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Food price fears as US warns on crop yields
Financial Times ^ | 11-09-10 | Gregory Meyer / Jack Farchy

Posted on 11/10/2010 6:26:11 AM PST by Red Badger

The spectre of inflation loomed over agricultural markets after the US slashed key crop forecasts and warned of shortfalls in grains.

The agriculture department on Tuesday cut estimates of US corn yields for a third successive month, forecast record soyabean exports to China and warned of the slimmest cotton stocks since 1925.

(Excerpt) Read more at ft.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; US: Iowa; US: Nebraska
KEYWORDS: biofuel; corn; economy; energy; greenieweenies; obama; stuckonstupid
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Ethanol..........First rule of civilization: DON'T BURN YOUR FOOD....
1 posted on 11/10/2010 6:26:14 AM PST by Red Badger
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To: Red Badger

No food for oil.


2 posted on 11/10/2010 6:28:28 AM PST by a fool in paradise (The establishment clause isn't just against my OWN government establishing state religion in America)
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To: Red Badger

DUMB B@#$%^&*()@#$%^&*(


3 posted on 11/10/2010 6:28:45 AM PST by Sacajaweau
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To: Red Badger

Oh Noes, we won’t have enough grain for Ethanol 15%!


4 posted on 11/10/2010 6:30:08 AM PST by libertarian27 (Ingsoc: Department of Life, Department of Liberty, Department of Happiness)
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To: Red Badger

that and the gov’t paying farmers etc not to grow crops....control the food, control the people....


5 posted on 11/10/2010 6:31:34 AM PST by tatsinfla
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To: a fool in paradise
No food for oil.

California: No water for food.

6 posted on 11/10/2010 6:33:02 AM PST by ecomcon
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To: Red Badger

It’s water. We’ve been depleting the aquifers to fast too long.


7 posted on 11/10/2010 6:33:39 AM PST by sinanju
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To: Red Badger
Notice where the authors write from

By Gregory Meyer in New York, Jack Farchy in London and Javier Blas in Geneva

Ask yourself, what food is produced in New York, London or Geneva? My bet is that the writers know absolutely "Zero" about food production, distribution or processing. All they know is that they saw some graph that some Global Trading Group put together. It is time to stop listening to this mess and get on with the job of feeding our families and living our lives.

I do plan a bigger garden next year, but I am not afraid of being hungry. I don't have a lot of money, but I have good neighbors (but a number still vote Dem).

8 posted on 11/10/2010 6:38:00 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: Red Badger

Yep...and the envirowhackos and the nanny-staters won,t care about pesticides and GM crops when are eating shoe leather and boiling wool coats.

Damn all of them. We will rue the day we let them handle the levers of power. We already do...


9 posted on 11/10/2010 6:38:03 AM PST by rlmorel (When charity is mandatory, it becomes servitude.)
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To: Red Badger

Nothing the government does, at any level, can survive the constant meddling of bureaucrats year after year, decade after decade. We are one of the few counties in the world capable of feeding ourselves and a lot of the rest of the world. But a century plus of bureaucratic control of agriculture has placed us in a very precarious position.

I am not an overt isolationist, but darn it we should have first dibs on anything we produce. Especially things other countries can’t produce even if they try. And especially, especially when we have things they MUST have and they have things we MUST have. Take for instance, our food and their oil.

I am just absolutely fed up with government and every aspect of it at every level. It has been a house of cards far too long and it needs to be done away with completely and replaced with a fresh start.

I know it’s a pipe dream, but if we don’t do something it will be too late to do anything.


10 posted on 11/10/2010 6:44:21 AM PST by jwparkerjr (It's the Constitution, Stupid!)
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To: Red Badger

But the Purple spotted mouse is growing nicely. Time to put a bounty on enviroterrorists.

Pray for America


11 posted on 11/10/2010 6:49:23 AM PST by bray (A November to Remember)
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To: bray

Not just corn, but soybeans and cotton. We will be hungry and naked.............


12 posted on 11/10/2010 6:50:37 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: Red Badger

I’m holding out for the citrus crop report from Beeks.


13 posted on 11/10/2010 6:52:22 AM PST by Rebelbase (Palin/Christie 2012y)
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To: tatsinfla

End subsidies!
Republicans should have their own version of ‘welfare reform’! Corporate Welfare Reform. Most of theses subsidies go to Ginormous Agribusinesses instead of lowly farmers!


14 posted on 11/10/2010 6:52:41 AM PST by griswold3 (Employment is off-shored, away from govt. regulations, price pressure groups, and liabilities.)
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To: Texas Fossil
There isn't much food "produced" in Chicago, but the traders at the CBOT (some of whom may never have stepped on a farm) certainly know more about the commodities being traded-upon there then the farmer who grows them.

That being said, a smart farmer looks to the CBOT traders for guidance, just like the CBOT traders look to the farmer.

15 posted on 11/10/2010 6:53:52 AM PST by 1rudeboy
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To: Red Badger

Creating more crisis situations.


16 posted on 11/10/2010 7:01:20 AM PST by Reagan69 (Let me know when those health insurance premiums go down.)
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To: 1rudeboy
the traders at the CBOT (somemost of whom may never have stepped on a farm) certainly know more about the commodities being traded-upon there then the farmer who grows them.

The CBT has for over 160 years had a "reputation" of manipulation. I am sure there are "honest" traders, but "trader" by norm implies something totally different. I have a relative who worked there for a while before she decided there were better things to do for a living.

just like the CBOT traders look to the farmer.

I see no evidence of that, other than reading the USDA planting and production reports. (my family has owned/operated farms in this county for 110+ years) My opinion of the CBOT is that you have a better chance of winning in Las Vegas than at the CBOT.

17 posted on 11/10/2010 7:10:52 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: jwparkerjr
But a century plus of bureaucratic control of agriculture has placed us in a very precarious position.

100% Correct. -see my tag line.

18 posted on 11/10/2010 7:13:17 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: Rebelbase

“TURN THOSE MACHINES BACK ON!”


19 posted on 11/10/2010 7:14:39 AM PST by dfwgator (Texas Rangers -Thanks for a great season.)
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To: Texas Fossil

Do you use the CBOT to hedge your risk? How do you reconcile your complaint that CBOT traders are not farmers, when you are a farmer and not a CBOT trader?


20 posted on 11/10/2010 7:14:53 AM PST by 1rudeboy
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To: Red Badger
The agriculture department on Tuesday cut estimates of US corn yields for a third successive month,

Yeah? What is the Energy Dept.'s estimates of US corn yields.

Ahem!

21 posted on 11/10/2010 7:16:25 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Red Badger
Ethanol..........First rule of civilization: DON'T BURN YOUR FOOD....

Amen, bro.

That's why I'm already boycotting the 2011 NASCAR season.

I'll be damned if I'm going to sit there and watch cars fueled by corn for three hours and then be told countless times how wonderful it is while people are starving around the world.

That's right! I'm blaming NASCAR for world starvation! HA!

22 posted on 11/10/2010 7:19:02 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Red Badger

It’s called supply and demand although it’s the Feds who are cutting the supply. With preppers stocking up on grains, the government found a way to mess over the taxpayer.


23 posted on 11/10/2010 7:20:03 AM PST by bgill (K Parliament- how could a young man born in Kenya who is not even a native American become the POTUS)
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To: Rebelbase

Orange you glad!
We should not go off on a tangerine!
The marketed will be pommeloed!.......


24 posted on 11/10/2010 7:21:39 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: 1rudeboy

I would trust a man with cow poop on his boots before a man with Bruno Maglis on his feet.......


25 posted on 11/10/2010 7:27:49 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: 1rudeboy
Do you use the CBOT to hedge your risk?

NO, we never have. (110+ years)

26 posted on 11/10/2010 7:28:00 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: Texas Eagle

So, I can blame Richard Petty?...............


27 posted on 11/10/2010 7:28:45 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: Red Badger

***Ethanol..........First rule of civilization: DON’T BURN YOUR FOOD....****

Pellet stoves got their start by burning....corn.


28 posted on 11/10/2010 7:28:51 AM PST by Ruy Dias de Bivar (I visited GEN TOMMY FRANKS Military Museum in HOBART, OKLAHOMA! Well worth it!)
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To: Texas Fossil
My opinion of the CBOT is that you have a better chance of winning in Las Vegas than at the CBOT.

The CBOT is magic. They make the long and short side of the same contract lose money /sarc

29 posted on 11/10/2010 7:29:06 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Ruy Dias de Bivar

Stovers...........


30 posted on 11/10/2010 7:30:00 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: Red Badger
So, I can blame Richard Petty?...............

I'm not 100% sure but I think Richard Petty Enterprises may have folded up shop.

All I'm saying is get ready for the brainwashing.

31 posted on 11/10/2010 7:30:20 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Red Badger
I would trust a man with cow poop on his boots before a man with Bruno Maglis on his feet.......

BUMP

32 posted on 11/10/2010 7:30:27 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: dfwgator
Where's Beeks? Where in hell is Beeks?


33 posted on 11/10/2010 7:31:21 AM PST by Rebelbase (Palin/Christie 2012y)
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To: tatsinfla
"that and the gov’t paying farmers etc not to grow crops"

What government program is paying farmers not to grow crops?

34 posted on 11/10/2010 7:31:59 AM PST by JustaDumbBlonde (Don't wish doom on your enemies. Plan it.)
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To: Red Badger
Let me try that again.

I'm just sayin'. Get ready for the brainwashing.

35 posted on 11/10/2010 7:32:13 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Texas Eagle

My brain is clean.............


36 posted on 11/10/2010 7:32:24 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: Red Badger
My brain is clean............

I'm just sayin'.

37 posted on 11/10/2010 7:33:44 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Red Badger

No worries, Michelle’s garden will feed us all.


38 posted on 11/10/2010 7:35:59 AM PST by NonValueAdded (Palin 2012)
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To: sinanju

No it’s lack of rain. Dryest summer in 40 years in southern Indiana.


39 posted on 11/10/2010 7:36:15 AM PST by CholeraJoe (Dude, your I-pod isn't a karaoke machine.)
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To: Ruy Dias de Bivar
"Pellet stoves got their start by burning....corn."

We burn corn in our fireplace ... burns very hot. Corn stoves are becoming very popular according to the man at a local dealer.

40 posted on 11/10/2010 7:36:30 AM PST by JustaDumbBlonde (Don't wish doom on your enemies. Plan it.)
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To: griswold3
While there are definately ginormous agribusinesses out there, the lowly farmer is disappearing. Here's why. If, as in this area, you have to farm a lot of acreage to pay for the equipment you need (10+ square miles is not uncommon), and the parcels of land have been bought over generations, the net worth of your means of production is so large that even the equipment alone will kick in the death tax upon your demise.

You can't just pass the farm on to your kid. You can only keep it together by making a business out of it and transferring ownership of the business.

41 posted on 11/10/2010 7:42:52 AM PST by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
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To: CholeraJoe

We have had more rain in the past year in this part of Texas in my father’s memory. He is 85.

BUT, we appear to be just coming out of the bottom of a very long sunspot cycle. We have known for over 100 years that weather is more variable during sunspot minimums and maximums.

Things will remain unpredictable but more back to normal in the future.

“The Sky is not falling”

AND we Kicked the Dems butt on Nov. 2nd. Waaahwhoo


42 posted on 11/10/2010 7:45:07 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: Texas Eagle

My liver is clean, too.
I wash it in alcohol every night!..........


43 posted on 11/10/2010 7:48:56 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: NonValueAdded

Not if she gets to it first..........


44 posted on 11/10/2010 7:49:46 AM PST by Red Badger (The House finally fell on Nancy Pelosi..........)
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To: CholeraJoe

Here in Minnesota it is one of the best harvests in beans and corn for awhile. Just enough rain, just enough heat and then a good and dry fall for harvest. I like to see the farmers do well.


45 posted on 11/10/2010 7:50:07 AM PST by Sawdring
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To: Red Badger

What if that guy that had cow poop on his boots liked to party in Eunemclaw?


46 posted on 11/10/2010 7:51:52 AM PST by Sawdring
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To: JustaDumbBlonde

An agricultural subsidy is a governmental subsidy paid to farmers and agribusinesses to supplement their income, manage the supply of agricultural commodities, and influence the cost and supply of such commodities. Examples of such commodities include wheat, feed grains (grain used as fodder, such as maize or corn, sorghum, barley, and oats), cotton, milk, rice, peanuts, sugar, tobacco, and oilseeds such as soybeans.


47 posted on 11/10/2010 7:54:00 AM PST by tatsinfla
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To: Smokin' Joe

Farm transfer.

You are correct and the consumer will be the net looser.

It is also on the operations side since PVPA and the monopoly of university research under the corporate umbrella of AgriPro.

We all loose loose loose.


48 posted on 11/10/2010 7:54:51 AM PST by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one.)
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To: JustaDumbBlonde

here is another link to a story for you....

http://www2.tbo.com/content/2008/jul/11/na-usda-urged-to-end-paying-farmers-not-to-grow-cr/


49 posted on 11/10/2010 7:58:23 AM PST by tatsinfla
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To: Red Badger
Not just corn, but soybeans and cotton. We will be hungry and naked.............

Seesh you worry mongers have no idea what the American Farmer can do.

See my tagline, it's been as true this year as it has been for the last 50, and will be far into the future.

Now, sitdown, shutup, and eat your food, 'cuz there's a mountain of surplus food needing to be used up.

50 posted on 11/10/2010 8:11:38 AM PST by Balding_Eagle (Overproduction, one of the top five worries of the American Farmer each and every year..)
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