http://endoftheamericandream.com
‘It is
too early to panic, but if there is not a major change in the weather very soon
we could be looking at widespread crop failures throughout the United States
this summer. Record heat and crippling drought are absolutely devastating
crops from coast to coast. Unfortunately, this unprecedented heat wave
just continues to keep going and record high temperatures
continue to scorch much of the central
Right
now is an absolutely crucial period for corn. It is time for pollination
and rainfall is desperately needed. The following is from an article
recently posted on agweb.com....
With
some parts of
The
Sadly,
the corn in some areas of the country may already have been permanently damaged
according to the Washington Post....
Some
growers are already reporting damage to corn, which is at a critical
pollination stage. In some areas, the corn already has been damaged to the point
that rain may not be enough to salvage the crop, Telvent
DTN analyst John Sanow said.
He
and other analysts have lowered their yield estimates to an average of about
150 bushels per acre or less. That compares with the
Meanwhile,
corn supplies are dropping at a rate not seen in many years. The
following is from croplife.com....
Corn
supplies in the U.S. are declining at the fastest pace since 1996 as a Midwest heat wave
damages the world's largest harvest for a third consecutive year.
Bloomberg
News reports that stockpiles were probably 3.168 billion bushels (80.47 million
metric tons) on June 1, 47% less than on March 1
So
what does all of this mean?
It
means that food prices are going to rise.
Over
the last month, the price of corn is up about 27 percent.
The
price of wheat is also soaring. The price of September wheat is up about 26 percent since the beginning of June.
So is
there hope that things can be turned around?
Unfortunately,
things look quite bleak at this point. According to the Washington Post, the
outlook for the rest of the growing season is very ominous....
“Based
on the drought outlook, the potential for further degradation is very high, and
the potential to reach exceptional levels of drought — where there are major
crop failures — is very high,” said Matthew Rosencrans,
a Weather Service meteorologist. “The climate signals we are looking at right
now don’t correlate with wetness in that region.”
Jay
Armstrong, owner and operator of Armstong Farms in
Kansas, flew his small plane over a portion of the affected area and landed
with the impression that the potential damage is far worse than is commonly
understood.
“At
this time of year, when you look down in a place like
Those
are frightening words.
Nobody
wants to hear about the possibility of "major crop failures" or that
"the market has no ideas what's coming".
Ranchers
are being absolutely devastated by this hot, dry weather as well. The
following comes from a comment that was posted on one of my recent articles by a reader
identified as Cinderella Man who works in the business....
As
of 6/27/12 at the
If
this continues, we won't just see corn and wheat become much more expensive.
We
will also see the price of meat go through the roof as well.
This
is not welcome news at a time when the economy is already in really bad shape and millions of families are barely making it from month to month.
So
what do you think about all of this? Do you live in an area of the
country that has been affected by this weather? What do you think will
happen if we see widespread crop failures throughout the
Please
feel free to post a comment with your thoughts below....