Sunday, May 26, 2019

Are We Facing a Food Crop Crisis Soon?

This is the latest headline that I saw today that portends a possible food crisis by late this summer.

I'm not surprised because the corn commodity price accelerated higher last Friday. I wonder if this is a sign of things to come. I had hoped and expected that prices might reverse and go lower, but the price accelerated higher instead. Note the last few candlesticks on the right that were even longer and closed even higher on Friday this last week.And it's not just corn, either. Other food commodities are skyrocketing as well!
The main reason for this is that North America has been very wet this spring. Much of America's midwest farm land is flooded.
Why isn't this in the news headlines?