America’s drought pain is Argentina’s revenue gain as prices soar for soy, corn, wheat

WP ^ | 07/1912

[TigerLikesRooster]

America’s drought pain is Argentina’s revenue gain as prices soar for soy, corn, wheat

By Associated Press, Published: July 19

BUENOS AIRES, Argentina — America’s loss is Argentina’s gain. Record soy prices due to a punishing drought in the U.S. heartland are expected to create billions of dollars in new revenue for the South American country, which is the world’s third-largest soy producer behind the U.S. and Brazil.

Prices for soybeans for August delivery gained 50.25 cents, or 3 percent, to end at $17.3375 a bushel. Corn also beat its all-time high of a year ago, with September deliveries rising 12.75 cents to finish at $8.0775 per bushel. September wheat also rose a sharp 31.75 cents to close at $9.35 per bushel on the Chicago Board of Trade, its highest prices since 2008.

[jjotto]

B-B-But it is said right here on FR that drought grain loss is irreplaceable and we’re all gonna starve, or something...

[Steven Tyler]

Good, stop converting corn into ethanol

[TigerLikesRooster]

P!

[Just mythoughts]

B-B-But it is said right here on FR that drought grain loss is irreplaceable and we’re all gonna starve, or something...

Obviously you are NOT a farmer of any kind. AND have NO clue as to what is required year in and year out to plant crops. Farmers most especially the smaller ones are going to need TAXPAYER assistance IF they borrowed money to plant corn and there is NONE to harvest.

[Lurker]

Note to American farmers: America is broke. There is no more money. If you can’t pay your loans, hire a bankruptcy attorney.

There will be no bailouts.

That is all.

[jjotto]

Farmers most especially the smaller ones are going to need TAXPAYER assistance

You can't make this stuff up, folks! Right here on FR!

[Farmer Dean]

Just about everyone I know bought crop insurance.

[Just mythoughts]

Note to American farmers: America is broke. There is no more money. If you can’t pay your loans, hire a bankruptcy attorney. There will be no bailouts. That is all.

WHAT??? In the era of 'compassion' and an election year to boot? I cannot wait for the belly aching threads over the cost of meat of all kinds. Cereals, anything made with corn, wheat, and soy beans. I am smack dab in the middle of this drought and I am starting to see some of my old mature trees dying. Amazing how few 'bugs' of any kind can be found flying around lights at night.

Strange how people react when their livelihood is NOT getting destroyed.

[tet68]

Barak Obama.....”Shut up and eat your soybeans.”

[Just mythoughts]

Just about everyone I know bought crop insurance.

Sure there is crop insurance. However, with the vast widespread drought, how far is that insurance going to cover? What, first come first serve.... a run on the insurance vault?

Last I heard 80 some counties in Kansas have been declared a disaster... which means 'government' assistance in some form.

[BCW]

as consumers - we must walk away from Corn products - all of them...it’s feeding this huge govt. machine...

Watch: FOOD, INC on Netflix - it’s all there...

This nonsense and chaos has got to stop - and not participating in it is the only way it’s going to happen...govt leaders aren’t going to do it...just like tobacco — it just be a choice of the Citizen... and it has to start now...Don’t but CORN products - support local farmers and eat what is in season!

[Just mythoughts]

Farmers most especially the smaller ones are going to need TAXPAYER assistance.

You can't make this stuff up, folks! Right here on FR!

Try NOT to be so shortsighted. This is an election year and these politicians are NOT going to ignore the plight of so many states.

[Former Fetus]

America’s loss is Argentina’s gain. Record soy prices due to a punishing drought in the U.S. heartland are expected to create billions of dollars in new revenue for the South American country, which is the world’s third-largest soy producer

We can thank J. Carter for this. When he announced the grain boycott against the USSR in 1980, Japan felt the need to find a more "reliable" supplier and helped finance the cutting down of the rain forest in South America to plant soy beans. Ole Jimmy killed two birds with one stone!

[Tupelo]

From the ‘30s to ‘10s for damn near 90 years every socialist country has had crippling droughts. Funny how draughts are always worse in socialist countries. Usually after 5 or 6 years they cannot feed themselves. Back in the old days, the US always fed them. I wonder who will feed us. It is starting to look like the chickens really have come home to roost.
Last one out turn off ......oh hell they will be off long before that.

[Dosa26]

RE: From the ?30s to ?10s for damn near 90 years every socialist country has had crippling droughts.
Thank you sir. Actual proof of man made climate change. in the secundary at least

[TigerLikesRooster]

If they cannot feed everybody, they will show up with guns and confiscate grains from farmers, leaving farmers starved to death(Ukraine famine and N. Korea in 2011~12.) They will only feed their own constituency.

[nodakkid]

Don’t forget most farmland in the USA has tripled in value in the last 5 years so there is a tremendous amount of equity on the farms.

[JustaDumbBlonde]

"Last I heard 80 some counties in Kansas have been declared a disaster... which means 'government' assistance in some form."

Disaster declarations mean that farmers *may* be eligible for low-interest loans to get by. A farmer still has to apply and meet eligibility requirements, including an ability to repay the loan. That is pretty much the extent of "assistance".

[MichaelCorleone]

“I’m thinking of buying October wheat. What do you think, Valentine?”