We have a very high percent of wheat crop failure here in Texas due to the drouth here. My father is in the seed business and has had a total crop failure this year. Not freeze related, but because of record dry weather.
Condition only recently broke, with light rainfall.
Nothing this dry since 1952.
Regards,
Texas Fossil
This is a rather dire assessment from http://www.marketskeptics.com/ :
My reaction: Last week, I wrote about a hard freeze damaging wheat crops in southern plains. Now we have confirmation of the damage.
1) The Oklahoma Wheat Commission reports that the majority of the state’s crop is damaged.
2) Some fields suffered damage of up to 90 percent.
3) 40 percent of producers don’t have insurance to help cover their losses, which will add up to hundreds of thousands of dollars.
Conclusion: Oklahoma freeze damage should start moving wheat prices higher. Once confirmation of the damage caused to wheat crop by torrential rains in India, wheat prices should surge. That will silence much of the today’s talk of deflation.
If both state’s wheat crops are in bad shape, then exports will be way down I would think. It was really dry here but that freeze, snow, and rain broke that.
Wonder how the wheat crop survived in the TX/OK Panhandle with all the snow? Usually snow protects it unlike an outright freeze.
****Nothing this dry since 1952.***
That was the year my dad lost his wheat crop when it failed to rain. The year before it was hail.
We quit farming then and went into road construction and minng.
Drought is symptomatic of cooling, not warming.
In CA, the below-average rainfall has lasted longer than any other recorded dry period.
Most of the world's ruling class (which has bought into global warming) is suffering irreversible brain syndrome of the Kool-Aid-holic type.