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USDA Drops An Agricultural Bombshell!
By Mr Ethanol | October 17, 2007
Money and Markets:
The USDA dropped a bombshell last week — reporting that U.S. wheat stockpiles may fall to the lowest level in 59 years! As disturbing as that is, it is 100% bullish for grain prices, especially given soaring worldwide demand for agricultural products.
Global stockpiles have already fallen to 26-year lows. World stocks of grain — that is, the food held in reserve for times of emergency — are now sufficient for just over 50 days. This is already lighting a fire under prices on your grocer’s shelves. But if you think you’ve seen high prices, just wait … you ain’t seen nothin’ yet.
Our wheat stockpiles are being whittled away because of a combination of rapidly rising demand in emerging markets and terrible harvests that have been compounded by the effects of global warming.
Topics: Agriculture, Market, News |
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