Soyabeans to stoke food price inflation

[profette_IHB]

<p><a href="http://www.ft.com/cms/s/0/0e683494-9def-11dc-9f68-0000779fd2ac.html">"Policymakers already concerned about the relentless rise in global food inflation are facing more bad news in the shape of soaring soyabean prices. </a></p>

<p>Soyabean prices have risen to their highest level in 34 years, boosted by strong Chinese demand and fears that current prices are not high enough to swing acreage from corn to soyabeans in the US, the world’s largest producer. </p>

<p>In Chicago, soyabean prices this week hit $11.14 a bushel, the highest level since July 1973, helped by rising demand from the biofuel industry as crude oil prices approached $100 a barrel and also by worries about the Brazilian crop – the world’s second largest – after dry weather in Mato Graso state, the key producing area. Soyabeans traded on Wednesday at $10.85½ a bushel. </p>

<p>The price jump threatens to resonate through the supply chain, boosting meat and poultry prices because soyabean is used largely for animal feed, analysts warned."</p>

<p><strong>Veggie Burger, anyone?</strong></p>

<p><img id="_x0000_i1057" height="221" width="181" border="0" alt="" src="http://www.bocaburger.com/images/Burgers.jpg" /></p>

 

[GoIllini_IHB]

If you 'rise and shine' really, REALLY early on Saturday mornings, you can watch "U.S. Farm Reports" on Channel 5, KTLA in Los Angeles. It runs at 4:00 A.M. Yes, the midwestern farmers are bustin' out of their overalls over the additional demand for their crops. Acres that were formerly planted in soybeans were switched to corn for ethanol fuel, and thus a risk of shortage of beans and similar crops. However, our government still pays farmers not to farm all their land. And they have put a surcharge on imported ethanol, to encourage domestic production. It's enough to make a free-market capitalist cry. It sort of matches with the current news that the government is somehow going to bail out the poor, clueless borrower with his zero-down, neg. amortization loan. Who is John Galt?

 

[Trooper_IHB]

<p>"Since everyone across the country is repeating the phrase, "Who is John Galt?", it is natural that many people have attempted to answer that question. The phrase becomes an expression of helplessness and despair at the current state of the world".</p>

<p>He's the one with the right idea.</p>