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Matthias Chang I challenge anyone to prove me wrong that confiscation of bank deposits is legalized daylight robbery Bank depositors in the UK and USA may think that their bank deposits would not be confiscated as they are insured and no government would dare embark on such a drastic action to bail out insolvent banks. Before I explain why confiscation of bank deposits in the UK and US is a certainty [...] presstv.com The results of a new poll show that American citizens are still experiencing difficulty in affording food for themselves or their families, a sign which proves that the country’s economy is not on the road to recovery. A total of 177,662 adults from across the United States responded to the poll conducted by Gallup organization via phone from January through June 2012. According to the findings, which were made public [...] Corn prices continue to rise. At $8.30 per bushel, it is near an all-time high. Following a weak USDA crop report, prices briefly surged north of $8.40. Prices have been elevated as one of the worst droughts in history have caused crop yields to fall. Read more: http://www.businessinsider.com/corn-prices-23-2012-8#ixzz24Mic9842 AFP - US corn and soybean prices closed at new record highs Tuesday as a new survey showed worse-than-expected crop damage from a brutal drought across the country’s central breadbasket. The price of corn jumped 1.7 percent to $8.3875 a bushel, while soybeans finished at $17.3025 a bushel, up 2.8 percent from Tuesday. That left the corn price up 68 percent from June and soybeans 39 percent higher. http://www.france24.com/en/20120822-us-corn-soy-prices-hit-records-drought-lingers Corn yields are projected at 123.4, the USDA reports.
That’s devastating. If realized, this will be the lowest average yield since 1995. Analysts polled by Reuters expect 127.3 bushels per acre, a low stemming from the drought. Corn prices instantly jumped to a new all-time high of $8.437 per bushel, above the recent record of $8.2875 per bushel. Read more: http://www.businessinsider.com/usda-corn-crop-yield-2012-8#ixzz2399vc6zy http://www.twitter.com/lindayueh by Michael This week has provided two very clear examples of why it is so important to keep on prepping. In the United States, the historic drought ravaging the central part of the country is absolutely devastating our crops. According to the U.S. Department of Agriculture, drought is affecting nearly 90 percent of all corn crops in America at this point. This is pushing the price of corn to levels never seen before. [...] Corn prices surged to a new record high Monday, as the worst drought in more than 50 years continues to plague more than half the country. Almost 90% of the United States’ corn crops are in drought ravaged areas, according to the U.S. Department of Agriculture, and nearly 40% are situated in the hardest hit spots. Corn prices have soared more than 50% during the past six weeks as the crops continue to [...] Corn prices surged to a new record high Monday, as the worst drought in more than 50 years continues to plague more than half the country. Almost 90% of the United States’ corn crops are in drought ravaged areas, according to the U.S. Department of Agriculture, and nearly 40% are situated in the hardest hit spots. Corn prices have soared more than 50% during the past six weeks as the crops continue [...] by Michael Are you ready for the next major global food crisis? The price of corn hit an all-time record high on Thursday. So did the price of soybeans. The price of corn is up about 50 percent since the middle of last month, and the price of wheat has risen by about 50 percent over the past five weeks. On Thursday, corn for September delivery reached $8.166 per bushel, and [...] Record cereal prices are prompting fears of escalating food costs around the world and drawing comparisons with the 2007-08 crisis, when food riots broke out across the globe. While the UK is drowning in rain, the US has suffered one of the worst droughts in more than half a century, withering the country’s corn crop. The US is crucial to global food markets as the world’s largest exporter of corn, soya [...] Corn futures are heading to record highs on reports of wider crop devastation, and as forecasts show continued hot, dry weather threatening even more of this year’s crop. The latest U.S. Department of Agriculture data shows that just 31 percent of the corn crop is in good to excellent shape, a sharp drop from the 40 percent level last week. Soybean conditions also declined to 34 percent from 40 percent last week, but [...] This is the hottest bull market in the world: CORN! Thanks to the drought and the heat, corn prices are going through the roof, and in the opening of trading on this Sunday evening, prices per bushel are surging once again. Here’s a look at September Corn futures via the CME:
CME
Source: businessinsider From Bloomberg: The U.S. cut its corn-harvestestimate 12 percent and said inventories next year will be smaller thanforecast in June as the worst Midwest drought since 1988 erodes prospects for arecord crop. Farmers will harvest 12.97 billionbushels (329.45 million metric tons), down from a June prediction of 14.79billion, the U.S. Department of Agriculture said today in a report. Analystsexpected 13.534 billion, based on the average of 14 estimates in a Bloombergsurvey. Inventories [...] Drought Grows Nationally Even As Florida Gets Soaked Extreme rainfall from Tropical Storm Debby virtually wiped out long-standing drought across Florida, but continued dry weather across the rest of the contiguous U.S. led to the most widespread area of abnormal dryness in the 12-year history of the U.S. Drought Monitor report. http://www.weather.com/news/drought-worsens-except-florida-20120628 Drought Threatens U.S. Food Prices A drought in the Corn Belt and elsewhere in the Midwest has pushed the bushel price of [...] By Martin Katusa of Casey Research Which Stocks Will Lose the Most in the Coming Energy Bloodbath Yesterday, I made a prediction that should scare a lot of investors. I predicted a massive loss in market valuation for some of North America’s largest energy producers. You might own some of these names yourself. I’ll share some specific names with you in a moment… But before we cover them, it’s important you know the dynamics that will drive [...] As harvests across the globe expand, prices could fall 30% to $4.305/bushel next year, according to analyst estimates. http://usda01.library.cornell.edu/usda/current/FDS/FDS-12-13-2011.pdf From Bloomberg: The U.S. is reaping its smallest corn harvest in three years after a drought damaged what was a record crop as recently as July, driving annual prices to an all-time high and curbing an expansion in global food supplies. The government will forecast production of 314.7 million metric tons tomorrow, 27.4 million tons less than four months ago, the average estimate of 30 analysts surveyed by Bloomberg showed. The cut [...] What Would You Bring To The White House: 5/31 GE Prophesizes Solar Power May Be Cheaper Than Traditional Power In 5 Years http://ewireinformer.com/ge-prophesizes-… Wheat Fields Wilt in Drought as Parched Earth Spreads From China to Kansas http://www.bloomberg.com/news/2011-06-05… Wheat prices jumped on Wednesday, taking the week’s gains to 17%, an ascent that threatens to put fresh pressure on fragile Middle East governments that import the grain to feed their people. Wet weather in the U.S. and dryness in Western Europe are driving the recent rise. Wheat futures jumped 53 cents, or 7%, to $8.17 per bushel Wednesday, the biggest single-day dollar gain in more than seven months, and are [...] From FT: Oil at $175 a barrel; copper at $12,000 a tonne and corn at $10 a bushel. As commodity prices rally, the world’s largest trading houses have been busy ‘stress testing’ to be sure their finances can withstand a “super spike”. The levels are not a forecast – indeed, executives tell me they do not expect such hefty prices – but do signal a “worse case [...] Feb. 17 (Bloomberg) — Federal Reserve Bank of Kansas City President Thomas Hoenig said soaring farmland prices may be the result of an unsustainable bubble that could damage the U.S. economy when it bursts. “My nagging concern remains that current distortions in financial markets are increasing the risk that imbalances in asset markets will catch agriculture — and the U.S. economy more generally — by surprise [...] by ZH Cotton, wheat, rice, and now corn. If revised Chinese import estimates by the US Grain Council are even remotely correct, look for corn prices of $6.80 a bushel at last check to jump by at least 15% in a very short amount of time. As the FT reports, “Corn prices – and with them, the price of meat – are set to explode if the latest [...] An article today in The Wall Street Journal highlights the latest rise in the price of wheat. Blaming bad weather, it notes that the “global wheat market is caught between freezing winds and a sirocco.†The WSJ therefore warns that “investors should beware of whiplash as weather normalizes.â€Â Given that wheat is “up 13% since the start of Decemberâ€, it is good advice – if weather were [...] What with all the relocations to iron out their megahydro dreams….squashing old huts and building high rises…we are talking a never ending economic boom! Not to mention all the smart factors - China is self-sufficient in wheat-growing 115m tonnes of the grain last season-and Beijing considers food self-sufficiency a matter of national security. The country also holds more than one-third of the world’s wheat reserves, with some [...] |
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