Posted on 02/26/2008 9:03:28 AM PST by bjs1779
Unbelievable.
Let’s plant more corn so we can burn our food and reduce our available land for wheat and other commodity production!! Good old ethanol. But I’m sure ADM’s stock is up!
The Law of Unintended Consequences rears its heartless self again......
Yep, ADM’s stock is closing in on its 52 week high.
Good time to be a farmer right now. Hopefully we can get rid of the bio-fuel subsidies scam soon.
It’s time to go after “Big Food.”
No, it’s time to shut down the ethanol scam.
Ah the joys of “Food for fuel”.
I imagine more wheat will be grown, the price comes down, etc. However - I imagine that there are all sorts of subsidies, tax breaks , etc. for corn/ethanol production so perhaps that offsets going back to wheat? It seems a bit goofy to me to take a year’s worth of corn for one person and use it to make one tank of gasoline if that often quoted statistic is true.
I wonder if all the wheat we sell to China is contaminated with lead? (Fair trade and all)
There are several articles out there re global food grain shortages:
http://www.allaboutfeed.net/news/id102-39808/india_minister_fears_grain_shortage.html
From the second link:
The leader of Britain’s largest opposition party has told British farmers that the current global shortage of grains is partly being caused by Chinese and Indians eating more meat than before.
David Cameron of the Conservative Party told farmers that Britain could feel the impact of a global ‘food crunch’ because of changes in people’s diets, climate change and the search for bio fuels.
People in China and India were eating more meat, which meant farmers were switching from producing grains to rearing livestock in order to meet surging demand, Cameron told the National Farmers’ Union’s centenary conference in London.
At the same time, he said, growing demand for bio fuels was adding pressure on global grain stocks because they required arable land for production, he said.
‘We face the potential prospect that the abundance of food that we all take for granted will come to a crashing end,’ he said.
Thanks, President Bush, for giving up on ANWR and nuclear power and going with ethanol.
Reason why I stocked up on flour two weeks ago. (Now if I could just find a decent place to store it)
No, it’s miracle wheat. Someone call Charles Taze Russell.
What is a good futures website with close to real time prices?
“ADM, Supermarket to the World” - lol.
Try CBOT futures,updates every 10 minutes.
As we all know from the Chinese dogfood scare wheat protein is nearly indistinguishble from melamine ~ which would probably mean that if you have a choice between buying plastic stocks (melamine) at an inflated price due to runaway oil prices, then you'll turn to other sources, e.g. wheat gluten ~ at $24 per bushel.
We need someone in the plastics industry to tell us what the precise outlines of this linkage is ~
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