Posted on 03/22/2022 7:48:57 AM PDT by Red Badger
CHICAGO (Reuters) - After Russia's invasion of Ukraine sent global wheat futures soaring, U.S. farmer Vance Ehmke was eager to sell his grain.
Local prices shot up roughly 30% to nearly $12 a bushel, about the highest Ehmke could recall in 45 years of farming near the western Kansas town of Healy.
Instead of reaping a windfall, Ehmke found a commodities market turned upside down. He and his wife Louise told Reuters they couldn't sell a nickel of their upcoming summer wheat harvest for future delivery. Futures prices for corn and wheat had rocketed so abruptly that many along the complex chain of grain handling - local farm cooperatives, grain elevators, flour millers and exporters - stopped buying for fear they couldn't resell at a profit.
Stay ahead of the market Others couldn't afford an industry-wide risk-management strategy known as hedging that keeps global commodities markets moving. Missiles falling in Ukraine had rocked that system, sending middlemen scrambling to shore up positions in the futures market that were costing them millions of dollars per day.
"More than anything, the market is just in a panic," Andrew Jackson, a Kentucky grain merchandiser, told Reuters.
Many of these players continue to hold back on purchases to see how the Eastern European conflict shakes out: Russia is the world's top wheat exporter and Ukraine is a major global supplier of both wheat and corn.
While some North American millers have said they have enough grain on hand from past harvests to continue producing for several months, prolonged or repeated disruptions to grain trading could eventually contribute to already-inflated food prices.
(Excerpt) Read more at finance.yahoo.com ...
An old Reagan era joke:
The Communist party chairman gets up and announces to the Politburo that the United States has surrendered and Communism now reigns supreme. The members all stand up to applaud except for one who has a sober look on his face.
"What's wrong, comrade," didn't you hear the good news?"
"Yes," he answers nervously, "but I was just wondering who is going to sell us the wheat we need to survive."
Sounds like an opportunity for someone who has a brain.
Which leaves out Yahoo and Reuters.
Bugs, “it’s what’s for dinner”.
The globalists have been crowing for sometime how you’ll be eating crap and bugs. While they enjoy T-bones. It’s for the earth...
“Let them eat bugs.”
— Marie Antoinette
Even more money for the Russians with oil, natural gas and wheat soaring in prices.
It would have been nice if an opposition party or inquiring press existed to demand a President, any President, explain what his actions, particularly the sanctioning and banning of a Country like Russia, truely meant to the average citizens daily life.
Instead we get the grift of Freedom in far away lands, amplified by algorithmic fake news cycles. All of this by the same clowns who brought us the Iraq and Afghanistan carnage.
This will make Covid look like a blip
This seems like a great opportunity for smart US farmers, truckers, and farming cooperatives to create a market-bypass mechanism and set up relationships with the big buyers directly. They have the commodity. Prices are high. I wish them a great windfall.
Developing contango event. Tough situation for a farm commodity.
“The Communist party chairman gets up and announces to the Politburo that the United States has surrendered and Communism now reigns supreme.”
Doesn’t sound very funny to me...
I remember as a child in the 80’s riding in the car between Seattle and Spokane, WA, and 60 miles from Spokane there were huge mountains in the middle of the flat land. The mountains were actually made of wheat, I think some of it was sold to the Soviets. It doesn’t seem like they have had excess wheat in Ritzville, WA for a long time.
“Even more money for the Russians with oil, natural gas and wheat soaring in prices.”
Nice of the West to enrich them, but I guess their priority is Ukraine winning, so they can carry on with their Great Reset.
Wheat, oil, gas, all these commodities should be produced in America and we should be self sufficient.
“Developing contango event. Tough situation for a farm commodity.”
True, the war could end tomorrow (although very unlikely), and when the West finds that Putin isn’t sending every Ukrainian to concentration camps, they’ll figure out that the wheat scare was overblown.
Not during the Joe Xiden regime, but it was a lot funnier when Reagan was president because people knew it was a joke.
Revelation 6:6
Then I heard what sounded like a voice among the four living creatures, saying, “Two pounds of wheat for a day’s wages, and six pounds of barley for a day’s wages, and do not damage the oil and the wine!”
“Who is old enough to remember that when Ukraine was part of the U.S.S.R., they had to buy wheat from the United States?…”
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As did the Russian part of the USSR. Both Russia and Ukraine are no longer communist agriculturally.
I am of the opinion that the Tribulation began in October, so this is not surprising to me. We are in for a very bumpy ride....
Leviticus 11:22
"These you may eat: the locust after its kind, the destroying locust after its kind, the cricket after its kind, and the grasshopper after its kind."
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