Farmers Hoard Corn as Prices Drop
If yields are "anywhere close to normal, we will really be buried in corn," he says.
Adjusted for relatively modest overall consumer price inflation as reported by the government, exported corn is currently trading at early 1990s levels (as seen in the following chart).
Click to enlarge.
For what it is worth, I think corn prices could easily go either way from here. I have no opinion other than to say that the farmers hoarding corn are definitely betting big in the casino. Good luck on that.
However, storing corn for too long "definitely" poses risks for farmers, says Scott Stoller, a grain merchandiser at agricultural-advisory firm AgPerspective Inc. in Dixon, Ill.
You think? Ben Bernanke must be very pleased to see so much risk taking though. Corn prices only go up! Every corn kernel needs a place to live! They just aren't making any more corn! Okay, maybe that last one isn't quite true. I got caught up in the housing bubble mentality. Probably read too much David Lereah. Sorry about that!
December 11, 2010
John Williams of ShadowStats Warns Hyperinflation Will Start in the Next Couple Months!
Williams is a respected economist who has a high level understanding of the fundamental numbers behind our economy, so his forecasts and recommendations should not be taken lightly...
It's been 36 months so far. Took the predictions very lightly. Still am. Yawn. If anything, perhaps I should brush up on my Japanese in case we're stuck in ZIRP (like they have been) for the rest of my life. Seriously.
This is not investment advice.
See Also:
Bananas for Silver!
Hyperinflation Theories Poned Again
Source Data:
St. Louis Fed: Custom Chart
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Posted by: Tukiyooo
Where Is the Cornpocalypse? Updated at :
11:46 PM
Saturday, December 14, 2013
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