October 28, 2023
Bad Weather And War Could Send Wheat Prices Skyrocketing
Forbes Money Investing Bad Weather And War Could Send Wheat Prices Skyrocketing Simon Constable Contributor Opinions expressed by Forbes Contributors are their own. Author | Broadcaster | Journalist | Commentator | Speaker. Following Oct 28, 2023, 01:12pm EDT | Press play to listen to this article! Got it! Share to Facebook Share to Twitter Share to Linkedin (Original Caption) 7/27/1955- Kharkov State Selection Station, U.S.S.R.: Members of the Americans ... [+] agricultural delegation to the Soviet Union examine the wheat harvest at the Kharkov State Selection Station during their visit to Russia. Giving an outdoor lecture is Professor V.Y. Yuryev, member of the Ukrainian Academy of Sciences (white hat, coat) Photo from an Official Soviet Source. Bettmann Archive It’s gonna get rough for wheat farmers and buyers this year. Suboptimal weather across key growing areas and potential disruptions emanating from the war in the Middle East are to blame. The weather problem has already begun. A dire combination of dry weather simultaneously occurring in four of the largest markets — Russia, Ukraine, the European Union, and the U.S. — will combine with lower than expected harvests in Argentina and Australia, according to a recent edition of the Hackett Money Flow Commodity Report newsletter. The newsletter sums up the situation as follows: “All of this suggests that global wheat production for the year ahead is going to be off considerably at a time that ending stocks in exporter hands relative to demand remain wistfully low.” Wheat prices have retreated massively this year so far this year. A bushel of wheat recently fetched $5.76 down from approximately $9 a year ago, according to data collated by the Trading Economics website . The unusually high price of $9 was solely connected with the fears surrounding the Russian invasion of Ukraine. The investor worries did not materialize to the level anticipated leading prices to drop. If Middle East Crisis Escalates Then Expect Market Disruptions But don’t expect the relatively normal prices to last long even if the weather turns out to be better than expected. MORE FOR YOU ‘South Park: Joining The Panderverse’ Review — Disney Satire At Its Finest WWE SmackDown Results: Winners And Grades On October 27, 2023 Shock Leak Reveals Elon Musk s Mind Blowing X Plan To Replace Banks And PayPal Sparking Wild Critical Mass Bitcoin And Crypto Price Speculation The crisis in the Middle East seems to have the potential to upset any sense normalcy in the wheat market. The Hackett Report explains this element in the following way: “A Middle-East geopolitical escalation with Israel and Hamas etc. the geopolitical risks surrounding food and energy are not going away anytime soon. Securing key supplies of food like wheat to a world in escalating turmoil and war is a must and will lead to significant stockpiling demand and a restriction of exports by those who have supplies as a risk buffer.” (My emphasis added.) That need to boost standby inventories of wheat, which is used to make pasta and bread among other things, will likely be high in the middle income countries in the middle east. Middle income is defined as a country having average per capita earnings of between $1,000 and $13,000 year . Leaders in many of the countries know only too well that lack of affordable food in Tunisia in 2011 sparked an uprising across multiple countries. The uprising became known as the Arab Spring. Leaders will no doubt be concerned about the potential for a repeat performance and will want avoid it if at all possible. Therefore they will likely start buying grain in anticipation of a widening conflict in the region. Already, the conflict has spread beyond just Israel and the Iranian-backed Hamas. Iran itself has started war games in an apparent display of strength . Iranian-backed Hezbolla has sent a rocket barrage into Israel. U.S. war planes have targeted Syrian-based ammunition inventories linked to Iran . The U.S. Navy managed to intercept missiles fired by Iranian-backed Houthi rebels that are based in Yemen . In addition, U.S. bases in Iraq have been targeted after threats from Iranian-backed forces . Put simply, if this level of violence is just the beginning then there could be a lot more disruption in the region. That could result in increasing numbers of displaced refugees, all of who will need to be fed, plus merchant ships carry grain may be targeted by one side or another. While so far, that hasn’t happened it is not out of the question and widespread disruptions in the region could likely lead to higher prices. Follow me on Twitter or LinkedIn . Check out my website or some of my other work here . Simon Constable Editorial Standards Print Reprints & Permissions
Related Stories
Latest News
Top news around the world
Israel at War

Israel has entered its fourth week of war against Hamas after the group infiltrated the country on October 7.

Israel conducted its most intense ground operation in Gaza overnight, attacking about 150 underground targets, according to IDF.

Around the World

Celebrity News

> Latest News in Media

Media
Star Wars Director Says It's About Time A Woman Makes A Star Wars Movie
Jan 02, 2024
Oscar-winning documentary filmmaker Sharmeed Obaid-Chinoy is directing an upcoming Star Wars movie that brings back Daisy Ridley in the role of Rey. Obaid-Chinoy will become the first woman to direct a Star Wars film, dating back to the franchise's origins in the 1970s. Speaking about this, Obaid-Chinoy told CNN that she is "very thrilled" to make the movie and create something that is "very special.""We're in 2024 now, and I think it's about time we had a woman come forward to shape the story in a galaxy far, far away," she said.Obaid-Chinoy won Best Documentary, Short Subjects Academy Awards for Saving Face (2012) and A Girl in the River: The Price of Forgiveness (2015).In 2020, Lucasfilm boss Kathleen Kennedy told the BBC that a woman would eventually direct a Star Wars movie, saying that would "absolutely" happen, "without question." Victoria Mahoney was a second unit director on The Rise of Skywalker, but a woman has never claimed a top directing credit on a Star Wars movie.On the TV side of things, The Mandalorian has featured a number of female directors, including Deborah Chow and Bryce Dallas Howard. Chow went on to direct the Obi-Wan TV series, too.Another high-profile franchise that has never had a female director is James Bond. Producer Barbara Broccoli and Skyfall director Sam Mendes have both said they want to see a woman direct a future 007 film.As for Obaid-Chinoy's Star Wars movie, little is known about it apart from the fact that Ridley will come back to play Rey. It is expected that this film will be the first of the three new Star Wars films to come to theaters, possibly releasing in December 2025.According to a report, Peaky Blinders creator Steven Knight is writing the Rey movie, taking over for Damon Lindelof and Justin Britt-Gibson.
READ MORE
Watch It
Timothée Chalamet Addresses Date Night With Kylie Jenner at Beyoncé’s Concert | E! News
December 20, 2023
B3z63vdSZ6Q
How Cher REALLY Feels About Kelly Clarkson’s Cover of Her Song | E! News
December 20, 2023
kf7fwJHnaxU
Ryan Gosling Drops NEW Holiday Version of ‘I’m Just Ken' | E! News
December 20, 2023
FsBATnrFv6w
The Top 10 TV Shows of All Time | Variety
December 20, 2023
mwZnVmsQNAs
Ava DuVernay & Michael Mann l Directors on Directors
December 19, 2023
qBRTngfdqZ8
Ari Aster & Yorgos Lanthimos l Directors on Directors
December 18, 2023
BXYD3UISwCs
2023's Top TMZ Sports Interviews: Shaq, Gronk, Tyson, Derulo & More! | TMZ Sports Full Ep - 12/25/23
December 20, 2023
LuSEtAJ1Dms
Aaron Rodgers' Season Over and Lakers' Unique Banner Celebration! | TMZ Sports Full Ep - 12/19/23
December 20, 2023
_SZM5laBY1I
#SelenaGomez is standing by her man, #BennyBlanco, amid backlash from fans over their relationship
December 20, 2023
3OAOi6VvLnQ
Inside Brad Pitt’s whirlwind 60th birthday weekend with Ines de Ramon: Romantic Paris to festive LA
December 20, 2023
o9clvkwWVPI
Inside Brad Pitt’s whirlwind 60th birthday weekend with Ines de Ramon: Romantic Paris to festive LA
December 20, 2023
inNYH5LILUM
When Taylor Swift and Travis Kelce would likely get engaged, according to NFL WAG Hannah Ann Sluss
December 20, 2023
kFWOyZlTJFc
TV Schedule
Late Night Show
Watch the latest shows of U.S. top comedians

Sports

Latest sport results, news, videos, interviews and comments
NBA Names Clare Akamanzi CEO Of NBA Africa
Jan 02, 2024 15:29
The NBA named Clare Akamanzi – an accomplished business executive and international trade and investment lawyer – as CEO of NBA Africa. Akamanzi will start her position on Jan. 23, 2024, and report to NBA Deputy Commissioner and Chief Operating Officer Mark Tatum. In this role, Akamanzi will oversee the NBA’s business and basketball development efforts in Africa and will be responsible for continuing to grow the popularity of basketball, the NBA and the Basketball Africa League (BAL) across the continent, including through grassroots basketball development, media distribution, corporate partnerships, and social responsibility initiatives that improve the livelihoods of African youth and families. For the last six and a half years, Akamanzi was CEO of Rwanda Development Board (RDB), where she spearheaded Rwanda’s economic development by enabling private sector growth. Under Akamanzi’s leadership, RDB implemented several business policy reforms and initiatives that led to significant investment and development for the country, including through partnerships with the BAL, Arsenal FC, Paris Saint-Germain FC, FC Bayern Munich and TIME Magazine, among others. “Clare’s business acumen, international experience and familiarity with basketball and the NBA make her the ideal executive to lead our business in Africa,” says Tatum. “NBA Africa and the Basketball Africa League are well-positioned for continued growth, and under Clare’s leadership we believe these initiatives will transform economies, communities and lives across the continent.” “I’ve seen firsthand how sports can positively impact businesses, families and communities in Africa, and the NBA and the BAL are a perfect example of that,” says Akamanzi. “The NBA has done an incredible job growing basketball and the economy around it across the continent, and I’m excited about the enormous opportunities ahead to build on that momentum.” Previously, Akamanzi was Chief Operating Officer of RDB and Head of Strategy and Policy Unit, Office of the President of the Republic of Rwanda. She has extensive international trade, business and diplomatic experience, having previously worked for the Rwandan Government at the World Trade Organization in Geneva, Switzerland and at the Rwandan Embassy in London, England. Akamanzi has worked or studied in seven different countries and holds an honorary LLD from Concordia University in Montreal, Canada, in recognition of her work in Rwanda. She earned a master’s degree in public administration from Harvard University’s Kennedy School of Government in Cambridge, Massachusetts, where she was the recipient of three prestigious awards for academic excellence and distinguished contribution to the community: the Lucius N. Littauer Fellows Award, the Raymond & Josephine Vernon Award and the Robert Kennedy Public Service Award. In addition, Akamanzi holds a Master of Laws degree in international trade and investments from the University of Pretoria in South Africa, and a Bachelor of Laws degree from Makerere University in Kampala, Uganda. Akamanzi has served on several company boards, including the World Health Organization (WHO) Foundation, ECOBANK and Aviation, Travel and Logistics (ATL) company. She was recognized by Forbes as one of Africa’s Top 50 Powerful Women in 2020.
Latest Events
02
Jan
SPAIN: La Liga
Real Sociedad - Alaves
02
Jan
SPAIN: La Liga
Getafe - Rayo Vallecano
01
Jan
ENGLAND: Premier League
Liverpool - Newcastle United
01
Jan
ENGLAND: Championship
Blackburn - Rotherham
01
Jan
ENGLAND: Championship
QPR - Cardiff City
01
Jan
ENGLAND: Championship
Middlesbrough - Coventry
01
Jan
ENGLAND: Championship
Swansea City - West Bromwich Albion
01
Jan
ENGLAND: Championship
Stoke City - Ipswich Town
01
Jan
ENGLAND: Championship
Sheffield Wednesday - Hull City
01
Jan
ENGLAND: Championship
Norwich City - Southampton
01
Jan
ENGLAND: Championship
Leicester City - Huddersfield
01
Jan
ENGLAND: Championship
Bristol City - Millwall
01
Jan
ENGLAND: Championship
Plymouth - Watford
01
Jan
ENGLAND: Championship
Leeds - Birmingham
01
Jan
ENGLAND: Championship
Sunderland - Preston NE
31
Dec
ENGLAND: Premier League
Tottenham Hotspur - Bournemouth
31
Dec
ENGLAND: Premier League
Fulham - Arsenal
30
Dec
ITALY: Serie A
Juventus - Roma
30
Dec
ENGLAND: Premier League
Nottingham Forest - Manchester United
30
Dec
ENGLAND: Premier League
Luton - Chelsea
30
Dec
ENGLAND: Premier League
Manchester City - Sheffield United
30
Dec
ITALY: Serie A
AC Milan - Sassuolo
30
Dec
ENGLAND: Premier League
Crystal Palace - Brentford
30
Dec
ENGLAND: Premier League
Wolves - Everton
30
Dec
ITALY: Serie A
Verona - Salernitana
30
Dec
ENGLAND: Premier League
Aston Villa - Burnley
30
Dec
ITALY: Serie A
Atalanta - Lecce
30
Dec
ITALY: Serie A
Udinese - Bologna
30
Dec
ITALY: Serie A
Cagliari - Empoli
29
Dec
ITALY: Serie A
Genoa - Inter Milan
29
Dec
ITALY: Serie A
Napoli - Monza
28
Dec
ENGLAND: Premier League
Arsenal - West Ham United
28
Dec
ENGLAND: Premier League
Brighton - Tottenham Hotspur
27
Dec
ENGLAND: Premier League
Chelsea - Crystal Palace
27
Dec
ENGLAND: Premier League
Everton - Manchester City
26
Dec
ENGLAND: Premier League
Manchester United - Aston Villa
26
Dec
ENGLAND: Premier League
Burnley - Liverpool
24
Dec
ENGLAND: Premier League
Wolves - Chelsea
23
Dec
ENGLAND: Premier League
Liverpool - Arsenal
23
Dec
ITALY: Serie A
Roma - Napoli
23
Dec
ENGLAND: Premier League
Tottenham Hotspur - Everton
23
Dec
ENGLAND: Premier League
West Ham United - Manchester United
23
Dec
SPAIN: La Liga
Atletico Madrid - Sevilla
23
Dec
ITALY: Serie A
Inter Milan - Lecce
23
Dec
ITALY: Serie A
Frosinone - Juventus
22
Dec
ITALY: Serie A
Salernitana - AC Milan
21
Dec
SPAIN: La Liga
Alaves - Real Madrid
Find us on Instagram
at @feedimo to stay up to date with the latest.
Featured Video You Might Like
zWJ3MxW_HWA L1eLanNeZKg i1XRgbyUtOo -g9Qziqbif8 0vmRhiLHE2U JFCZUoa6MYE UfN5PCF5EUo 2PV55f3-UAg W3y9zuI_F64 -7qCxIccihU pQ9gcOoH9R8 g5MRDEXRk4k
Copyright © 2020 Feedimo. All Rights Reserved.