Not the first time I’ve been right about food. Oil prices topping $80. Our sales down 7% from last year. My son just got laid off at the aircraft plant he was working at.
Tough times for us broke dicks until the next stimulus package. Oh yeah, bet on it. The next boom will sky rocket out of sight.
I remember the first time the Commies bought out the grain market. Farmers and traders made out like bandits for a year or so, then collapse of the market and grain farmers disappeared from business. Not a problem right? Capitalism you know. Unless you were the one losing your ass, of course.
Next thing you know we start conquering the world for food. What else do we need our troops for? Killing brown people for oil?
Oba mama wouldn’t do that would he?
08/09/10 Gaithersburg, Maryland – In 1972, Russia’s wheat crop failed. Russia had to dip into the global grain markets to meet demand. Before Washington knew the plight of its Cold War adversary, Russia bought up all of the surplus wheat in the US. Dubbed “The Great Grain Robbery,” Russia’s purchases sent grain prices soaring around the world.
Grain prices soon hit 125-year highs in Chicago. In a 10-month span, soybeans went from $3.31 to $12.90 a bushel. Food prices around the world rose 50% in 1973.
Some of the old traders are wondering if it’s happening all over again.
On Thursday, wheat prices hit $7.25 a bushel, a 71% increase