Shocking USDA Report! Food Shortages: Wall Street 'Caught Off Guard' by Severity

The very likely possibility of a new food shortage scare is rising as crop conditions deteriorate across the world.

We are not just talking small potatos here, we are talking current events affecting food production right now.

The report, which cut the acreage for corn planting this year by 1 million from the 88 million projected on March 31, left traders using terms such as "game-changer" and "shocking"

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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.

Corn prices bolt up as USDA downsizes 2010 crop estimates

"If the USDA is right, then it turns out we don't have those big corn surpluses after all, and that leaves the market vulnerable to weather," said Don Roose, president of US Commodities in West Des Moines.

Wet weather was already worrying Iowa farmers. Iowa Secretary of Agriculture Bill Northey said Wednesday that June rains "actually caused more damage...Analyst Bryce Knorr of Farm Futures Magazine called the USDA report "shocking," adding that "the news basically suggests that new crop supplies could be up to a billion bushels smaller than previous estimates."

high temperatures are stunting crops' growth and turning pastures brown across the commonwealth

Pastures Turning Brown Accoss Commonweath

Thailand and Vietnam, the world's two largest rice exporters, face severe drought conditions that threaten to severely undermine this year's crops and global supplies.

Current Drought Threatens Worlds Global Rice Supply

Severe food shortage follows lack of rainfall in Syria - 27 Jun 2010

And these articles don't begin to address crops being damaged by the toxic rain from the Gulf oil disaster. Mounting evidence suggests that the oil dispersant, Corexit 9500, can phase transition and could be entering clouds to form a toxic rain over the region.
www.youtube.com...

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. ....

We are back to recession economics and rapidly heading toward a deeper, longer “Third Depression.” With all recent economic indicators setting new record lows and deficits at record highs, this ship is only going one way folks, down, down

www.blacklistednews.com...

We have seen this before, not that long ago in 2008.

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

source

Food Price Inflation: Causes and Impacts

Controlled-demolition of the U.S. economy has long been engineered by the banksters and will likely continue to collapse at the rate of free-fall gravity. With all of the media manufactured confusion its hard to see straight.

This idea stands out; if retail price of rice doubles as it did in 2008, then you the investor make 100% return in something that's immediately tangible. Invest in food now!



[edit on 3-7-2010 by burntheships]

And so it begins.....


You think thats bad wait another 15years.

Also if the food produced went straight to people rather than to industry cattle and business' we still have enough food to eat and still have surplus.
When will you people wake up its because of our laziness to cook and eat properly we are having to put our diets in the hands of others and subject to mass market buying. HOw many potatoes goes to making frozen chips etc etc I think you get the picture...

[edit on 3/7/2010 by loner007]

reply to post by loner007


Your right on with the lack of cooking and food preparation in this country. Recently I witnessed large quantities of "fast food" wasted, left over from an event just because it was "forgotten" and not refridgerated. Even though it was "fast food" it would have fed someone. People have NO idea what is about to come upon them.

Maybe they would still not behave differently, I really wonder at this point. I see the corn going to fuel production for hybids and just shake my head. Oil gushs from the ocean, it is all so twisted.

I have a doubt about the information in your post.

Is it about world of US supplies?

Thanks in advance.

Oh yay more fear mongering, self-fulfilling prophecy horror from the economy elite of the type that panics people and makes the entire situation worse. Now not only are there no jobs and no money but no food. Let's see...who might benefit from this particular little story....

reply to post by ArMaP


All the links are there, you can check them all. I checked each one, and all the dates are with in the last several days, the USDA report was just issued end of June 2010. I too was taken aback at the information, that is why I posted it. Please feel free to debunk if you can.

Edit to add: There were many more stories I could have linked in there, like this one: the-classic-liberal.com... and like this one: www.cnbc.com... but did not as I am just passing on the info. I do think it is a good idea to have a food supply on hand.



[edit on 3-7-2010 by burntheships]

Originally posted by ~Lucidity
Oh yay more fear mongering, self-fulfilling prophecy horror from the economy elite of the type that panics people and makes the entire situation worse. Now not only are there no jobs and no money but no food. Let's see...who might benefit from this particular little story....

I agree, its not good news. But, lets just say that you might want to read the articles, and prepare.

Edit to add: LOL I am not selling food either. I doubt that the small voices by trusted people saying buy food are trying to prop up the market...LOL. Save Wall St by buying fertilizer and seeds, and food? LOL. Many of the honest anylsts have been saying that there is a coming food shortage. This will be like 2007, when some tried to warn us about the dangers of the market (like Celente), and few listened, until after Oct 2008 when the Bail Out was created to keep the entire economy from crashing.



[edit on 3-7-2010 by burntheships]

reply to post by burntheships

thank you for bringing this info to our readers.
It is essential for all people to make decisions based
upon sound information, and thus you have
succeeded in that respect.

reply to post by burntheships

Oh I have, and I didn't mean that I don't appreciate you posting this. I believe in being prepared whether they tell me to panic or not though.

I wasn't being disrespectful. It's just that I tend to be skeptical and am of f the opinion that we are all being manipulated 100 ways to Sunday for someone's gain with this entire economic situation. The fact, for example, that Wall Street was surprised doesn't mean a thing to me other than they're pissed off nobody told them.

Someone's going to benefit here. Be that Monsanto or whoever remains to be seen. In a system that has methodically destroyed what used to be a crop rich world (for the most part) and small farms, one can't expect good intentions from anywhere.


[edit on 3-7-2010 by ~Lucidity]

reply to post by burntheships

I only asked if this was worldwide or just in the US, can't you answer a simple question like that?

reply to post by ArMaP

Just a guess but the headlines in the OP alone mention the global rice supply and Syria?

reply to post by boondock-saint


freind!

reply to post by ~Lucidity


No worrries I can see your point on the Wall Street being "shocked". I am assuming that the anylsts that were suprised were not quite paying attention or that somewhere there may be a need to manipulate corn prices? I dont know yet as this is recent info.

However, rice is a key component also, and that info is only from July 2nd.

reply to post by ArMaP


Sorry, I must have misunderstood. It appears that there is a food shortage brewing accross the world, and that here in the U.S. Wall Street Analysts were shocked by depleted corn stores, and also that less corn has been planted to bolster those stores than previously thought.

Edit to add this might shed more light on the subject.

Wheat Rises as Investors Bet Demand Will Gain on Corn Shortage
July 01, 2010, 4:09 PM

July 1 (Bloomberg) -- Wheat rose to a seven-week high as speculative investors bet demand will increase because U.S. production of corn, a competing grain used to feed livestock, may not be as big as expected.

Farmers sowed 87.872 million acres (35.6 million hectares) with corn, less than forecast in March, the U.S. Department of Agriculture said yesterday. Corn rose 8.6 percent yesterday, fueling expectations that feedlot managers will use more wheat to fatten cattle. Speculative investors who were net-short 48,883 wheat contracts as of June 22 may be buying futures and liquidating bets that prices would fall.

“The wheat had built up quite a bit of shorts, and there’s a sense that if the corn market rallies, that’ll run the wheat market up,” said Jason Britt, the president of Central States Commodities Inc. in Kansas City, Missouri. “The report caught traders leaning to the short side.”

www.businessweek.com...

[edit on 3-7-2010 by burntheships]

reply to post by burntheships


This (food shortages) was a big "web bot" prediction.

Yeah, yeah, most people on here don't believe in the web bot predictions, but go back and check their last few data set analysis reports, and you'll see it on there.

According to the web bot data, massive crop failures are set to happen this summer.

[edit on 3-7-2010 by nikiano]

reply to post by burntheships


Thanks.

As I haven't followed these events, does anyone know if this is something that has never happened, that happens with some frequency or if it happens frequently? That would give us (the ignorants about this subject, like me ) an idea of what may happen.

reply to post by ArMaP


www.marketskeptics.com...

www.globalresearch.ca...

www.globalresearch.ca...

www.cbc.ca...

reply to post by loner007


Thanks, but I doubt that I can "digest" all that information.

reply to post by ArMaP


Think I wish I had not looked further.
July 2, 2010: Deadly fungus threatens global wheat crop

www.ft.com...

www.physorg.com...

[edit on 3-7-2010 by burntheships]

This is not good news at all.

I can't help but wonder how the folks at Goldman Sachs will make out? They seem to have made out on every other disaster that has occurred in recent memory.

Food shortages,.. No kidding I went to the grocery store today and they were all out of HOT DOG BUNS. I said wow,.. I just couldn't believe it.I started to panic and had to settle for some healthy organic multi grain buns instead..

I see your point,.. but were not in trouble yet. Not for qiute a while.