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Food price fears as US warns on crop yields
Posted By admin On November 10, 2010 @ 4:46 am In World News | Comments Disabled
Gregory Meyer, Jack Farchy and Javier Blas
Nov 10, 2010
The spectre of inflation loomed over agricultural markets after the US slashed key crop forecasts and warned of shortfalls in grains.
The agriculture department on Tuesday cut estimates of US corn yields for a third successive month, forecast record soyabean exports to China and warned of the slimmest cotton stocks since 1925.
“The combined production shortfalls and dramatic potential stock drawdowns mean a much tighter supply picture than just a few months ago,” the agency said in a separate grains report.
Benchmark Chicago corn futures soared above $6 a bushel for the first time since August 2008, before ending lower. Soyabeans rose 4.3 per cent and New York cotton futures posted a record above $1.51 a pound. The price rises have revived fears of a repeat of the global food crisis  of 2007-08.
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URLs in this post:
 global food crisis: http://www.ft.com/foodprices
 Full article here: http://www.ft.com/cms/s/0/249211fc-ec1d-11df-9e11-00144feab49a.html?ftcamp=rss#axzz14sbZy47a
 Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43
 Image: http://infowars-shop.stores.yahoo.net/inemnewwoord.html
 Crop Stop: Food crisis fears as heat hits wheat: http://www.prisonplanet.com/crop-stop-food-crisis-fears-as-heat-hits-wheat.html
 Corn Prices Headed for Record Highs as Crop Shrinks: http://www.prisonplanet.com/corn-prices-headed-for-record-highs-as-crop-shrinks.html
 Food Price Inflation Threatens Global Security: http://www.prisonplanet.com/food-price-inflation-threatens-global-security.html
 The Price Of Oil Is Going Up, The Price Of Food Is Going Up And Now Here Comes Quantitative Easing: http://www.prisonplanet.com/the-price-of-oil-is-going-up-the-price-of-food-is-going-up-and-now-here-comes-quantitative-easing.html
 Organic rice farmer in India yields over 22 tons of crop on only two acres, proving the fraud of GMOs and Big Ag: http://www.prisonplanet.com/organic-rice-farmer-in-india-yields-over-22-tons-of-crop-on-only-two-acres-proving-the-fraud-of-gmos-and-big-ag.html
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