Food Prices Heating Up Again

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The food price index of the United Nations Food and Agriculture Organization (FAO), which aggregates price movements for key agriculture products, climbed to 163 points in June. This is only 15 percent lower than the all-time high of 191 points in 2008, the year of the financial crisis

spiegel.de/international/business/0,1518,708765,00.html
 
josephdavid said:
The food price index of the United Nations Food and Agriculture Organization (FAO), which aggregates price movements for key agriculture products, climbed to 163 points in June. This is only 15 percent lower than the all-time high of 191 points in 2008, the year of the financial crisis.
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Wow, that’s really interesting. There’s a lot of money slushing around, looking for lucrative investments. It’s not a good thing if they’re speculating with food wholesale prices. As they note, people starved because of that, last time.
 
josephdavid said:
The food price index of the United Nations Food and Agriculture Organization (FAO), which aggregates price movements for key agriculture products, climbed to 163 points in June. This is only 15 percent lower than the all-time high of 191 points in 2008, the year of the financial crisis

spiegel.de/international/business/0,1518,708765,00.html
Click to expand...
That’s not too too surprising. 30% of the cropland in my province (accounting for almost 20% of Canada’s total) is unseeded or underwater, and I wouldn’t bet on any high yields in most areas that did get seeded. Many crops are behind where they should be at this point, and some fields that did get seeded got so bad (weeds or disease) that they were simply sprayed and cultivated away. Russia is also experiencing a massive heat wave which is killing a lot of their crops.

Sometimes supply does have something to do with the speculation.
 
curlycool89 said:
That’s not too too surprising. 30% of the cropland in my province (accounting for almost 20% of Canada’s total) is unseeded or underwater, and I wouldn’t bet on any high yields in most areas that did get seeded. Many crops are behind where they should be at this point, and some fields that did get seeded got so bad (weeds or disease) that they were simply sprayed and cultivated away. Russia is also experiencing a massive heat wave which is killing a lot of their crops.

Sometimes supply does have something to do with the speculation.
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Hmm… That’s true. There’s also a terrible stem rust (wheat fungus) epidemic in a growing number of countries. That will end up raising wheat prices, I fear. The last thing we need this year is a poor harvest!
 
Thank ethanol added gas.

Corn farmers are doing quite well, but when a lot of corn goes into gas, it means other grains will increase in price due to increase demand. Wheat, for example, took a big jump.
 
Luigi_Daniele said:
Thank ethanol added gas.

Corn farmers are doing quite well, but when a lot of corn goes into gas, it means other grains will increase in price due to increase demand. Wheat, for example, took a big jump.
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Perhaps that’s why cereals took a drop in price stateside, as gasoline prices are sinking. Less gasoline being sold, less cereal being turned into gasoline, less competition with food prices.

But now I’m just guessing.
 
I was watching an ag program on RFD-TV today on which they were discussing Oklahoma farms switching over to Canola as the latest cash crop. The scary part was that they right away started to talk about how it could be used as an enthanol source like corn and I suppose soy beans. Pretty soon we won’t be able to afford meat but it won’t matter we won’t be able to afford oil to cook it anyway!
 
Bob_Aliano said:
I was watching an ag program on RFD-TV today on which they were discussing Oklahoma farms switching over to Canola as the latest cash crop. The scary part was that they right away started to talk about how it could be used as an enthanol source like corn and I suppose soy beans. Pretty soon we won’t be able to afford meat but it won’t matter we won’t be able to afford oil to cook it anyway!
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That’s actually what farmers around here were planning to do, plant a lot of canola. I’m not really sure why though, I don’t follow agricultural trends around here beyond what the news reports.
 
curlycool89 said:
That’s actually what farmers around here were planning to do, plant a lot of canola. I’m not really sure why though, I don’t follow agricultural trends around here beyond what the news reports.
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But that doesn’t make any sense. Wheat prices will go up soon, and canola prices will decline.
 
Ugh! This is not good! I barely do well to get by on $200 worth of food stamps a month, now it is going to be even more difficult! 😦 May God bless all of those charities who help to feed the hungry, clothe the naked, and give drink to the thirsty.

(Matthew 25:31 NAB-A) When the Son of Man comes in his glory, and all the angels with him, he will sit upon his glorious throne,
(Matthew 25:32 NAB-A) and all the nations will be assembled before him. And he will separate them one from another, as a shepherd separates the sheep from the goats.
(Matthew 25:33 NAB-A) He will place the sheep on his right and the goats on his left.
(Matthew 25:34 NAB-A) Then the king will say to those on his right, ‘Come, you who are blessed by my Father. Inherit the kingdom prepared for you from the foundation of the world.
(Matthew 25:35 NAB-A) For I was hungry and you gave me food, I was thirsty and you gave me drink, a stranger and you welcomed me,
(Matthew 25:36 NAB-A) naked and you clothed me, ill and you cared for me, in prison and you visited me.’
(Matthew 25:37 NAB-A) Then the righteous will answer him and say, ‘Lord, when did we see you hungry and feed you, or thirsty and give you drink?
(Matthew 25:38 NAB-A) When did we see you a stranger and welcome you, or naked and clothe you?
(Matthew 25:39 NAB-A) When did we see you ill or in prison, and visit you?’
(Matthew 25:40 NAB-A) And the king will say to them in reply, ‘Amen, I say to you, whatever you did for one of these least brothers of mine, you did for me.’
(Matthew 25:41 NAB-A) Then he will say to those on his left, ‘Depart from me, you accursed, into the eternal fire prepared for the devil and his angels.
(Matthew 25:42 NAB-A) For I was hungry and you gave me no food, I was thirsty and you gave me no drink,
(Matthew 25:43 NAB-A) a stranger and you gave me no welcome, naked and you gave me no clothing, ill and in prison, and you did not care for me.’
(Matthew 25:44 NAB-A) Then they will answer and say, ‘Lord, when did we see you hungry or thirsty or a stranger or naked or ill or in prison, and not minister to your needs?’
(Matthew 25:45 NAB-A) He will answer them, ‘Amen, I say to you, what you did not do for one of these least ones, you did not do for me.’
(Matthew 25:46 NAB-A) And these will go off to eternal punishment, but the righteous to eternal life.
 
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