Food CRISIS: This could be your last great chance to buy Advertisement Tuesday, December 07, 2010 Text Size: increase text size increase text size decrease text size decrease text size From OilPrice…

[John Lefoot]

Food CRISIS: This could be your last great chance to buy
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Tuesday, December 07, 2010
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From OilPrice.com:

... An impending global famine has not escaped the notice of major hedge funds. George Soros has snatched up 650,000 acres of land in Argentina and Brazil on the cheap, an area half the size of Rhode Island. Others are getting into the game, quietly building portfolios of farms in the Midwest and the South.

In 2009, one of the greatest crop yields in history, brought on by perfect summer weather, delivered one of the largest grain crops in history. Fall rains and an early frost meant that much of this bounty ended up rotting in the field, providing the backdrop for price rises of 30% across the board.

The U.S. Department of Agricultural January crop report then predicted that we are going to see a replay of record production this year, slamming prices once again, and delivering limit down moves in the futures markets. But the weather may not cooperate, as it did last year.

The net net of all of this is that food prices are going up, a lot...

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