Food Prices, Shortages & Inflation - The Trash Index

[k0xxx]

China has reached a deal with Argentina to buy somewhere in the neighborhood of 6 to 8 million metric tons of corn. Corn futures are on the rise again, so corn meal and feed (and then meat) will be rising even more.


China Makes Plans For A Big Purchase Of Corn...Prices Higher

 

[DuppyDo]

I'm still beefing up my grain storage everytime i can. I bought 450lb of field run corn today at $10.50 per 50#.I'm trying to score 500 lb of red soft wheat next week at 19.00 per 50#...can't find hard red or white wheat locally without paying through the nose...! Very little is grown on long island, and its the grain i really need to round out my long term food storage program.
Darn shipping from the bread basket states to ny is a killer...

 

[k0xxx]

Think $5 Corn Is Expensive? Some Are Betting On $10 Next Year

"Over the past week, trading firms including JPMorgan Chase & Co. and MF Global Holdings Ltd. bought call option contracts that would pay off if corn rose above $10 or $11 a bushel next spring."

These are some of the Big Boys and they are betting on $10+ corn next year, double the current price.

 

[DuppyDo]

Sure doesn't sound good koxxx...cereal, chicken feed, meat like you mentioned are all going to takea hit.The bad thing i think, is that i don't believe we will ever see these prices come back down.Their are to many hungry people and high demand for grains.I think they will be here to stay, higher prices...

 

[Denim Deb]

Are they still using corn to produce gasoline? I know the price of gas around here has been rising. It's gone up by about 20 cents a gallon this month. I try to ride my motorcycle if it's not too cold out.

 

[k0xxx]

Are they still using corn to produce gasoline? I know the price of gas around here has been rising. It's gone up by about 20 cents a gallon this month. I try to ride my motorcycle if it's not too cold out.

According to the USDA, about 40% of US corn production goes into making ethanol for fuel.

 

[i_am2bz]

According to the USDA, about 40% of US corn production goes into making ethanol for fuel.

 

[~gd]

I'm still beefing up my grain storage everytime i can. I bought 450lb of field run corn today at $10.50 per 50#.I'm trying to score 500 lb of red soft wheat next week at 19.00 per 50#...can't find hard red or white wheat locally without paying through the nose...! Very little is grown on long island, and its the grain i really need to round out my long term food storage program.
Darn shipping from the bread basket states to ny is a killer...

Take a trip to western NY, the part along side Lake Ontario is very productive, Lots of Fruits and Veggies for the NYC market, Milk also and where there are milk cows there will be grains grown. I don't know the types of wheat raised, but most of it is 'winter wheat' if that means anything to you. even upstate NY below the mountains is productive and Dairy is big. Scout by car or the internet then go pick it up with a trailer or a small rent a truck. If you can line up enough friends to fill a small truck the transport cost can be fairly low.~gd

 

[DuppyDo]

Thanks ~gd...thats something to consider,i wouldn't know what to look for online though..! lol..google western ny grains...? I give it a try...

 

[THEFAN]

Our good butter. Kates in now just under 5.00 a lb. The only way to make it worth buying is by bulk. I then save 1.00 a package.

Good loaf of store bought bread is 3.50 to 4.00 a loaf or I can buy local made at 5.00 to 5.50.