Today is the last day bread will be made in Lebanon. The wheat stocks have run out and the banks will not extend credit for new supplies
Ukraine is the major supplier but the last boat load of wheat from Ukraine has been used by the wheat/bread/flour making industry
So Lebanon is looking for new supplies but most available wheat will now have to come from USA or SA. With price of oil and extra distance to travel this makes wheat very expensive landed in Lebanon
Now if all that wasn't bad enough the USA ambassador to Lebanon has some influence on sovereign affairs, none of which seem good
Why does the USA have to throw sand in the gears when a country is having a hard time with out the extra sand in the gears
Thanks Wayne!
Low stocks of global C, W and S make this a very risky time for those who depend on those crops coming from other countries.
some commentators are saying that a lot of countries depend on wheat from ukraine and russia. so this war might mean higher prices and less food available for lots of people around the globe.
and another related problem... when food is more expensive, and in short supply, we are more likely to see political turmoil, and social revolt.
I have a really, really dumb idea!
With less food like this....... some of the lowest global wheat, corn and soybean stocks than we've had for awhile with problems in Ukraine/Russia..........let's use up even more corn for ethanol as a political tool to pretend to lower gas mileage.....when it will do the complete opposite by ripping off consumers with lower gas mileage AND use up more food(corn) at a time when we are running out of food.
E15 gas this Summer
Started by metmike - April 12, 2022, 4:04 p.m.
https://www.marketforum.com/forum/topic/83265/
https://gro-intelligence.com/insights/gro-predicts-us-corn-stocks-will-drop-sharply-in-2022-23
4 April 2022
US corn stocks, already the second lowest in eight years, will shrink further in 2022/23. That will fuel further price increases in a broad range of food products, from soda pop to chicken wings.
US farmers intend to plant 4 million fewer acres of corn this year, for a total of 89.6 million acres, because of soaring fertilizer costs. The low planting intentions number, which could change before seeds actually go in the ground, would mean a smaller corn harvest this year even if growing conditions are ideal. The acreage report marks only the second time in history that US farmers have planted more soybeans than corn.
In addition, US corn exports are increasing due to stalled shipments from war-ravaged Ukraine and declines in South American production. US corn total sales commitments are currently the second highest in history, and new crop sales also remain strong. The US is the No. 1 exporter of corn worldwide.
December corn futures prices are posting new contract highs. US corn ending stocks for the current year are forecast at 36.6 million tonnes. Gro predicts 2022/23 corn ending stocks will decline by a double-digit percentage.
The impact of higher corn prices is likely to be broad based given corn’s versatility. Corn touches a large number of products, from cornmeal and corn flour to high fructose corn syrup. Further, corn is the primary feed grain in the U.S. feeding chicken, hogs and cattle, likely prompting higher prices across the protein supply chain as well as for dairy products.
metmike: If you wanted to do something to make inflation worse, then to absurdly spin it into an action that will fight inflation DO THIS:
E15 gas this Summer
Started by metmike - April 12, 2022, 4:04 p.m.
The outlook for more HRWheat supply from the US is very grim:
https://www.marketforum.com/forum/topic/83262/#83315
TX crop was 79% P/VP a week ago!
https://release.nass.usda.gov/reports/prog1622.txt
Texas ..........: 56 23 14 7 -
In the quarterly Grain Stocks report, all wheat stored as of March 1, 2022, was 1.02 billion bushels (27.7 MMT), down 22% from a year ago and the lowest in 14 years. On-farm stocks were estimated to fall 39% to 174 million bushels (4.7 MMT).
In North Dakota, the largest spring wheat producer, stocks were down 33%. In Kansas, the largest winter wheat producer, stocks were down 16%. Durum wheat, last updated on December 1, 2021, was reported to fall 30% year-over-year to 43 million bushels (1.1 MMT).