20 March 2022
THE MOST IMPORTANT NEWS — Food prices in the U.S. have already been soaring, and now we are on track for an absolutely horrible winter wheat harvest. Of course this comes at a time when the war on the other side of the globe is going to greatly reduce wheat exports from Russia and Ukraine. Over the last 12 months, the price of wheat has already risen 69 percent, and now this crisis threatens to go to an entirely new level. In all my years of writing, I have never seen anything like this, and I am deeply concerned about what the months ahead will bring.
Due to extreme drought, winter wheat is in very bad shape in states such as Kansas, Oklahoma and Texas. The following comes from one of the most prominent agricultural websites in the entire country…
Some farmers in southwestern Kansas, the top U.S. wheat producing state, have not received much measurable rain or snow since October. Winter wheat is planted in autumn, lays dormant in winter and begins sending up green shoots in spring. Proper soil moisture is critical at this stage for the crop to thrive.
More than half of Kansas was classified as under severe drought or worse as of March 8, the driest conditions since 2018, according to the National Drought Mitigation Center. Severe drought is also covering three-quarters of Oklahoma and more than two-thirds of Texas, both of which also are large wheat producers.
If that sounds really bad, that is because it is really bad. […]