Healthy soil and sustainable growing

["TradingPostPaul" <tradingpost@riseup.net>]

Concerns over food inflation as harvests fail
By Javier Blas and Chris Flood in London
http://www.ft.com/cms/s/0/ca3846d0-a81e-11dc-9485-0000779fd2ac.html
Published: December 11 2007 19:49
Financial Times.

The global economy is facing a second wave of food inflation after the US 
agriculture department on Tuesday warned of significant falls in stocks of 
corn, wheat and soyabean and heavy demand.

Officials forecast US wheat stocks would shrink to their lowest level in 60

years, dropping from 312m bushels to 280m by the end of the 2007-08 crop 
year.

The US is the world's biggest exporter of wheat and importing countries are

bidding heavily for its crops as other exporters cut supplies.

Cold weather damaged crops in Argentina and drought affected Australia's 
wheat production. Flooding also damaged European crops.

Michael Lewis, of Deutsche Bank in London, said the decline in stocks and 
rising shortages in large parts of Asia suggested 2008 "could deliver 
another year of  price shocks".