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2008-02-19 International-UN-NGOs
South Africa: Shock for Food Prices As As Wheat Futures Rocket
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Posted by phil_b 2008-02-19 05:39|| || Front Page|| [11130 views ]  Top

#1 Time for Farmin B. Hard to weigh in on how long it will be before SAf looks like Zim.
Posted by Jomosing Bluetooth8431 2008-02-19 06:37||   2008-02-19 06:37|| Front Page Top

#2 Yeah, well.... Keep seizing those farms anyway. It worked for mugabe.
Posted by newc">newc  2008-02-19 06:52||   2008-02-19 06:52|| Front Page Top

#3 This ought to be viewed with optimism. Those poor african farmers should benefit from the higher prices and spur production. I would like to here Ox Fam's take on the higher prices since the US agriculture has blamed for all Africa's ills because of food programs and overproduction.
Posted by darrylq 2008-02-19 08:44||   2008-02-19 08:44|| Front Page Top

#4 Not too many I know are worried about wheat right now. The most sought after commodity at the moment is a "Green Card."
Posted by Besoeker 2008-02-19 08:56||   2008-02-19 08:56|| Front Page Top

#5 All the more argument for closing down all the American farms and outsourcing agriculture the same way we did manufacturing!
Posted by gromky 2008-02-19 10:42||   2008-02-19 10:42|| Front Page Top

#6 Wheat between $10 to $11.30 bushel on us exchanges.
Posted by 3dc 2008-02-19 11:14||   2008-02-19 11:14|| Front Page Top

#7 Has there been some HUGE upsurge in biofuels production? I don't think so. Yet the media keeps claiming this is having a significant impact.
Posted by Darrell 2008-02-19 11:59||   2008-02-19 11:59|| Front Page Top

#8 "Those poor african farmers should benefit from the higher prices and spur production"

thats true, BUT A. Its not South Africa, which is more of an industrial-mining economy.

And few countries in tropical africa grow wheat in any quantity.
Posted by liberalhawk 2008-02-19 12:16||   2008-02-19 12:16|| Front Page Top

#9 Next years wheat crop is not very promising here in western Ks.
Posted by bman 2008-02-19 12:23||   2008-02-19 12:23|| Front Page Top

#10 What effect are the heavy snowstorms having on winter wheat?
Posted by trailing wife ">trailing wife  2008-02-19 14:07||   2008-02-19 14:07|| Front Page Top

#11 Read a report from the BC Canadians this weekend; although expenses are up, the price for wheat is double from just a 'few' months ago; as a result, BC farmers are in a buying frenzy; replacing all sorts of equipment. The banks have stated that they are watching to ensure the farmers don't over-extend, and all in all, it sounds like the BC forecast for this year is positive. (spent the w/end in BC, read a lot of their papers)
Posted by USN,Ret. 2008-02-19 14:37||   2008-02-19 14:37|| Front Page Top

#12 Colorado has been cold, but not a bunch of snow. Just dribbles. In the mountains we are getting record setting snowfall so the reservoirs will be full for the farmers. The winter wheat crop has done well this year too so far.

I see a bumper crop this year for the farmers.
Posted by DarthVader">DarthVader  2008-02-19 14:53||   2008-02-19 14:53|| Front Page Top

#13 1/3 of the US corn crop is now used to make ethanol and the US produces 40% of the world's corn. The offset is that the mash is used as a feed. Less energy but higher protein.

The US doesn't use wheat to make ethanol. Europe does, but has to priced out of the market without extraordinary subsidies. Which they have. Euro farmers even get a subsidy for designating farmland for biofuel crops.

The other major driver is meat demand has more than doubled in China and India as their income rise. A rule of thumb is 8 pounds of grain produces 1 pound of beef.

Don't forget the new mantra: One barrel for one bushel.
Posted by ed 2008-02-19 20:27||   2008-02-19 20:27|| Front Page Top

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