Midwest farmland flooded - what will be the impact on food prices?

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absinthe beginner
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Midwest farmland flooded - what will be the impact on food prices?

Post by absinthe beginner » Sat Mar 30, 2019 10:43 am

https://www.zerohedge.com/news/2019-03- ... devastated

Michael Snyder: "According to satellite data that was just released by Reuters, “at least 1 million acres of U.S. farmland” were covered by water for at least seven days this month. That is an agricultural disaster without equal in modern American history, and yet the mainstream media is treating this like it is some sort of second class story. It isn’t. This is the biggest news story of 2019 so far, and people want to know what is going on."

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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by ZMace » Sat Mar 30, 2019 11:15 am

There are almost one billion acres of farmland active in the US. Flooding this time of year is expected and generally a non-issue as fields are not planted. It really sucks for those specific people who are affected, but it's not a problem for most.

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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by grennels » Sat Mar 30, 2019 11:39 am

I read that maybe as many a one million head of cattle drowned in NE.

This is expected to greatly increase beef prices. In our capitalist system
expectation = reality.
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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by RonnyRonin » Sat Mar 30, 2019 12:53 pm

My wife works for a small national grocery chain, people she works with are expecting this to matter, especially in regards to corn.
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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by Stercutus » Sun Mar 31, 2019 12:59 am

Here is the rub:

- A lot of the effected area is focused on growing corn.
- In order to plant corn they have to clear the fields of flood debris as well as silt.
- The soil has to be tested to make sure it is still good for corn and then amendments made as needed
- The rainy season is starting that will be certain to slow and delay all of this
- It takes a long time to grow corn, probably too long to get a good crop this year


Now if we were to quit growing idiotic corn ethanol and adding it to gas this would be a non-issue. Fuel would be cheaper and food would be cheaper and less tax money to would get transferred to farmers and energy companies. Energy companies would be a little poorer.


(maybe also merge the flood threads together?)
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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by woodsghost » Sun Mar 31, 2019 6:47 am

grennels wrote:
Sat Mar 30, 2019 11:39 am
I read that maybe as many a one million head of cattle drowned in NE.

This is expected to greatly increase beef prices. In our capitalist system
expectation = reality.
I saw this headline and this has me confused. If a million cows died I would expect to see a lot more dead cows lying around. But maybe it is true. We will see.

And expectation can create *temporary* reality, but eventually the market balances out.
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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by majorhavoc » Sun Mar 31, 2019 8:39 am

grennels wrote:
Sat Mar 30, 2019 11:39 am
I read that maybe as many a one million head of cattle drowned in NE.

This is expected to greatly increase beef prices. In our capitalist system the ammo market
expectation = reality.
FIFY. Sorry, couldn't resist. Other markets sometimes show a surprising lack of price elasticity. But every supply chain has a tipping point; it remains to be seen how much the current disaster will impact beef and other agricultural prices.

FWIW, this story is gaining traction in the news media. From the front page of today's NYTimes:

https://www.nytimes.com/2019/03/31/us/m ... evees.html

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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by woodsghost » Sun Mar 31, 2019 11:16 am

I'm pretty sure there will be negative effects. The difficulty of lives devestated right now is real. The panicky headlines are cropping up, IMO, because news agencies have less bad news to talk about right now. They need to drum up some clicks. But this is not the first flood to hit this region.
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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by absinthe beginner » Wed Jun 12, 2019 11:29 am

Farmers across the US are using a Twitter hashtag to document historic flooding tied to climate change

https://markets.businessinsider.com/com ... 1028273205

As historic flooding continues to affect regions across the US, farmers are taking to Twitter to document the challenges they face.

Months of torrential downpours have made the last 12 months the wettest on record, wreaking havoc on farmlands and leaving growers unable to plant major crops like corn and soybeans.

With the window for planting closing in, producers in the Midwest and Southeast have grown increasingly concerned about the harvest. And they're making it known online, with dozens of tweets with the hashtag "NoPlant19" posted each week.

"Could have it worse but not being able to plant 60+% of our soybeans after two weeks of sunshine, because of #flood19 and mud is depressing with several days of rain in the forecast #noplant19," Matt Ivy, a farmer in Blackwater, Missouri, wrote on Twitter on Tuesday.

In March, the National Oceanic and Atmospheric Administration warned that nearly two-thirds of the country was at risk of flooding. About half of those states faced the potential for major or moderate flooding, situations that were slated to affect nearly 200 million Americans this season.

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Re: Midwest farmland flooded - what will be the impact on food prices?

Post by Stercutus » Wed Jun 12, 2019 12:34 pm

Its just as well. Given the ongoing trade war markets have shrunk accordingly. The big problem this year might be overproduction of soy beans.
These days of dust
Which we've known
Will blow away with this new Son

But I'll kneel down wait for now
And I'll kneel down
Know my ground

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