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USDA Reports Food Shortages: Wall Street 'Caught Off Guard' by Severity

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posted on Jul, 7 2010 @ 11:41 PM
Those keeping an eye on commodities might find this piece of interest. It predicts another global food shortage similar to the one that caused global food spikes in 2008, only worse:

USADA Reports Food Shortages: Wall Street 'Caught Off Guard' by Severity

Several recent headlines indicate that food prices will continue their swift climb upward. These troubling new reports show that agriculture production and stored grains are critically low and experts are now predicting food shortages on a grand scale...

...[The article] Corn prices bolt as USDA downsizes crop estimates...states that, "Commodity professionals were caught off guard Wednesday by a U.S. Department of Agriculture report showing 1 million fewer acres of corn planted this year than earlier projected, and almost 300 million fewer bushels of corn in storage." And these articles don't begin to address crops being damaged by the toxic rain from the Gulf oil disaster...

...We’ve seen this Beta test before when oil prices reached their peak of $147 in 2008 sending the price of food to the stratosphere. Food staples like rice nearly tripled in six months and at times increased 50% in just two weeks, primarily because of record oil prices and a weak dollar in 2008. During this run-up on prices, big box stores like Sam's Club and Costco were rationing the number of bags of rice customers could buy. You can bet that Food Crisis Beta 2.010 will be far more severe...

More at source.

If you are put off by the doom-y, blog-y nature of the source, consider the somewhat more well-known citations therein:
Drought threatens global rice supply
Corn prices bolt up as USDA downsizes 2010 crop estimates
Farmers say heat taking toll on crops

Additional doomb:

Worst drought in UK in 71 years
Heat wave scorches US

Looks like its gonna be a long, hot summer again. Much of the third world simply wouldn't be able to handle another massive runup like 2008. That year, I saw emptied shelves in Asia, shortages of basic goods like butter (at any price), and rice hoarding. Think I'll buy me a pallet of rice and multivitimins just to be on the safe side. Agri futures and derivatives might be worth closer scrutiny than at any time in the last 2 years or so, too.

[edit on 7/7/10 by silent thunder]

posted on Jul, 8 2010 @ 12:00 AM
This is troubling. Food is already expensive where I live, everything went up in price this year because of a new tax (that's supposed to be good for us of course) started recently, plus the way everything just gets more expensive every year.

I don't know how much more my family can take, and were supposed to be middle class. We certainly aren't rich, but we make enough money that we SHOULD be comfortable. Instead we'll be heading for the poor house soon with the way things are going up in price.

All I want is to not have to worry about feeding my kid. Is that too much to ask?

Edit to add: Maby I will follow suit and start stocking up on non-perishibles as well. Can't hurt, and will certainly help when and if prices do go through the roof.

[edit on 7/8/2010 by Hatcookie]

posted on Jul, 8 2010 @ 12:16 AM
reply to post by Hatcookie

Life in Canada has always been hard won
May I suggest learning to eat what grows in the wild?
I shave about a third from my food bill just harvesting what grows in the local green belt.
It is not nutritinally eroded like food grown on fertilized land is and some of the medicinal plants are much better cures then pharma offers.

A few books from a used bookstore and /or some internet time
are all it takes to get started.

posted on Jul, 8 2010 @ 12:54 AM
this story was posted last saturday

posted on Jul, 8 2010 @ 12:56 AM
reply to post by silent thunder

yup, I knew it. I hate when 'bad thoughts' pop into my head and then they come true. I have been canning fresh fruits grown locally because I have feared a food shortage. I do not, however, believe this is due to any 'oops, we didn't plant enough, and we gosh darn didn't add dat der corn up in storage cause we ain't smarter den no fif grader.' The gulf disaster can't help but affect crops. Hate to be cynical, but the media blackout might be hiding the true facts here regarding the impending shortage of grains. I mean, c'mon people... did they really miscalculate to such an extant as... "1 million fewer acres of corn planted this year than earlier projected, and almost 300 million fewer bushels of corn in storage." The timing of this discovery and dissemination of information to the public seems quite fishy, when you think about it.

Speaking of fish, I'm worried about the whole freaking food chain. Dead fish, and those that survive will suffer the cumulative effect of the toxic dispersants (then pass it further up the chain.)

My oh my. Then there's the water. I'm feeling a Y2K scare all over again. (By the way, I don't regret all the canning, survival stuff, etc. I packed away. We used it all, and planning for survival is never a bad thing.

Water... might need to stock up on that.

Be safe, people. Be happy. Have fun.
That's what I tell my kids to do, in that order.
I'm telling you all as well... and that's an order!

posted on Jul, 9 2010 @ 11:00 AM
The following is my opinion as a member participating in this discussion.

Here's a thread I authored Feb, 20th 2009:
Get Ready For Food Shortages

This next wave of the global economic crisis has been in the works since 2007. In due time this will pick up steam and people will die. There's no telling how the US will weather the storm, but I'm guessing some will starve here too. Keep a garden Going in your yard or build a community garden. The only way to stave off this crisis is to think and act locally, as global collectivism seems to be failing.

As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.

[edit on 9-7-2010 by projectvxn]

posted on Jul, 9 2010 @ 01:23 PM

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