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Fresh Records For Price Of Wheat

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Wheat prices have hit record levels as supplies dwindle, raising concerns about growing food inflation.

Chicago Board of Trade (CBOT) wheat for delivery in March rose the maximum 90 cents allowed to $11.99 a bushel in electronic trading in Asia.

High protein spring wheat on the Minneapolis Grain Exchange rose by almost 25% to record levels on Monday.

Kazakhstan has become the latest country to put export restrictions on wheat as it battles against inflation.

Russia and Argentina have already imposed similar export restrictions.

Weather worries

High protein spring wheat on the Minneapolis Grain Exchange rose almost 25% on Monday after all trading restrictions were scrapped.

The March futures contract closed at up $4.75 at $24 a bushel, the record price for any US wheat contract.

The price of spring wheat has more than doubled since January.

Reports of a drought in Northern China, where most of the country's wheat is grown, also pushed prices higher.

Extreme weather has already damaged crops in other parts of the world and US wheat inventories are expected to fall to their lowest level for 60 years.

Good job we can hold off eating till prices drop

Considering the population has doubled in 60 years the stocks are even worse.Food panics have started in a few countries.

time to go to lidle and buy up they big bags of flour

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Homeless you will also be hungry soon

now is a good time to stack up on emergency food rations just in case things get out of hand

we have hit the limit on borrowing, taxes are going up, fuel is going up and my gess jobs are soon going to be going down so it all points to a very dificulte time ahead and wirth the way things are going we could be heading for a full scale meltdown if the $500tr derivatives market gets hit as i'm sure it will.

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Wheat has more than doubled in the last year !!!!

Gordon will have to take pizza,bread and biccies out of the CPI, so that we stay at a nice comfortable 2% in Gordon's imaginary reality, while in the real world inflation is 15%.

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AS a result of surfing around after reading about gold and silver on these boards, I discovered ETFs. With the aim of making a profit I have invested in an agricultural ETF.

What do people think of the morality of this? I am hoping to profit from the increasing price of food and am in my small way by buying causing the price to continue to rise.

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AS a result of surfing around after reading about gold and silver on these boards, I discovered ETFs. With the aim of making a profit I have invested in an agricultural ETF.

What do people think of the morality of this? I am hoping to profit from the increasing price of food and am in my small way by buying causing the price to continue to rise.

Well it wouldn't be wise to invest to make a loss even if it was morally righteous to do so.

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Dont worry to much its raining in OZ and the summer wheat crop is going to be a bumper, your morals may not have to be called into question.

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AS a result of surfing around after reading about gold and silver on these boards, I discovered ETFs. With the aim of making a profit I have invested in an agricultural ETF.

What do people think of the morality of this? I am hoping to profit from the increasing price of food and am in my small way by buying causing the price to continue to rise.

I don't see any ethical problem at all. Putting capital into a market which needs increased output helps it achieve that increased output. Or to put it another way the increased prices help and encourage farmers to produce more.

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What do people think of the morality of this? I am hoping to profit from the increasing price of food and am in my small way by buying causing the price to continue to rise.

I for one will not participate. Parents across the globe today will struggle to put basic foods in their childrens bowls - if you have spare cash count yourself lucky and find an alternative investment strategy.

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I don't see any ethical problem at all. Putting capital into a market which needs increased output helps it achieve that increased output. Or to put it another way the increased prices help and encourage farmers to produce more.

Investment Vs speculation.

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Central banks are printing the shit out of currencies around the world. This is the primary driver of inflation as people's wages cannot keep pace and neither can the productive elements of the world economy - this is all to produce the mirage of growth and success - which it is neither.

The individual issues are background effects, the prime problem at the moment is loose monetary policy to try and save face over previous lax lending policy mistakes. their policies are not only economically unsustainable they are physically unsustainable.

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I don't see any ethical problem at all. Putting capital into a market which needs increased output helps it achieve that increased output. Or to put it another way the increased prices help and encourage farmers to produce more.

Thank you for your kind reply. If it had been a BTL property would you have felt I was promoting an increase in housebuilding?

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agricultural commodities are still very cheap

a few months ago i was talking with a retired farmer i know about house prices, he agreed that they were vastly over priced.

we compared house prices to the price of other stuff, he suggested that in 1976 potatoes were about £3 for a 25kg/55lb bag. that year my parents bought their first house for £2,000.

now in 2008 that house would be worth £120,000 and a bag of spuds £6.

if the price of potatoes had increased inline with house prices - potatoes would now be £180 a bag!!!!

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Dont worry to much its raining in OZ and the summer wheat crop is going to be a bumper, your morals may not have to be called into question.

that's what I heard too. Everyone is growing wheat in OZ, both for biofuels and for food. They'll be glutted with the stuff. which is good.

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that's what I heard too. Everyone is growing wheat in OZ, both for biofuels and for food. They'll be glutted with the stuff. which is good.

But maybe not good for Bleakhouse

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Thank you for your kind reply. If it had been a BTL property would you have felt I was promoting an increase in housebuilding?
It might well have that effect, yes. And if there were a genuine shortage of adequate housing it wouldn't necessarily be a bad thing.

Of course, a lot of the newbie BTLers are going to get burnt, because they were speculating on increasing prices and borrowed to buy instead of with capital they already had. Those who bought recently bought into a bubble and will pay the price.

Whether food commodities are in a bubble, I don't know. I was just thinking of general principles under "normal" circumstances.

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agricultural commodities are still very cheap

a few months ago i was talking with a retired farmer i know about house prices, he agreed that they were vastly over priced.

we compared house prices to the price of other stuff, he suggested that in 1976 potatoes were about £3 for a 25kg/55lb bag. that year my parents bought their first house for £2,000.

now in 2008 that house would be worth £120,000 and a bag of spuds £6.

if the price of potatoes had increased inline with house prices - potatoes would now be £180 a bag!!!!

Feck me! You'd even be eating the mouldy ones at the bottom!

I agree, agricultural commodities are still very cheap. We have got used to dirt cheap food for decades in the west. This is going to change over the next decade. The agri boom will run and run.

I hope wheat doesn't get too much more expensive those as I am rather partial to a bowl of wheatos (chocolate flavour).

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does anyone know where we can find a long term chart? (i've had a look but i can't find one)

i found this though, it confirms what i said in post 13.

http://www.potato.org.uk/media_files/MIS_r...eydatanov07.pdf

You can find various prices on the Farmers Weekly website......goes back about 7 years.

http://www.fwi.co.uk/Prices/Prices.aspx?sP...amp;pList=front

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You can find various prices on the Farmers Weekly website......goes back about 7 years.

http://www.fwi.co.uk/Prices/Prices.aspx?sP...amp;pList=front

thanks scott.

basically wheat has been £70 to £90 per ton for the last 7 years, but has gone up to £190 a ton in the last year, so it does look expensive.

but i've also found this chart that suggest that wheat was 10% more in 1974 than in 2007.

it says non adjusted (does that mean not adjusted for inflation, and these figures are nominal?).... if it does - wheat is still very cheap.

http://www.futuresbuzz.com/wheatlt.html

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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