Catastrophic Flooding Could Drive Up Food Prices

By: Curtis Wayne   3/21/2019

There are many breaking stories about catastrophic flooding in the Midwest that could last for months, and destroy much of the crops stored on farms.

Michael Snyder posted a collection of reports about this massive flooding.

“…most of the Great Plains and Upper Midwest is currently covered by more than 10 inches of snow, and all of that water has to go somewhere.  As all of that snow melts, we are going to witness an agricultural disaster that is far beyond anything that we have ever seen before in modern American history.”

“And thanks to the ongoing trade war with China, farmers had a staggering amount of wheat, corn and soybeans stored on their farms right now…”

Quoting a reuters.com article

“As of Dec. 1, producers in states with flooding – including South Dakota, Nebraska, Kansas, Minnesota, Iowa, Missouri, Wisconsin and Illinois – had 6.75 billion bushels of corn, soybeans and wheat stored on their farms – 38 percent of the total U.S. supplies available at that time, according to U.S. Department of Agriculture data.”

 “Even before the flooding, farm bankruptcies had hit the highest level since the Great Recession, and now those numbers are going to explode much, much higher.”

This natural disaster could destroy a large percent of US crop supply because of the China trade war it is sitting on the farms.  Many farmers are already carrying massive debts and are on the verge of bankruptcy if they cannot make their debt payments.

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