Food is becoming the new gold. Helps to have the soil & enough water to grow it.
<COLD FORECAST DASHES U.S. CROP PLANTING HOPES
MAY 13, 2022
CAP ALLON
Likewise in the U.S. (and indeed Canada), the onset of anomalous May cold looks set to dash any remaining hopes of even an average grain harvest, yet alone a bountiful one.
The USDA released its sixth Crop Progress report earlier in the week.
The agency, which is tasked with stabilizing the markets rather than painting a true picture, reported that corn planted stands at just 22% compared with the previous five-year average of 50%. Also, just 5% has ’emerged’ compared with the average of 15%.
Soybeans are also in trouble: 12% have been planted, compared with the five-year average of 24%.
Spring wheat planted is at 27% compared with the average of 47%; while just 9% has emerged compared with the norm of 15%. Winter wheat ‘headed’ came in at 33% vs the 40% average. More concerning, though, winter wheat condition was rated 29% good/excellent and 39% poor/very poor, compared with the previous year of 49% good/excellent and 18% poor/very poor.
And not forgetting oats, the planted area was reported at 55% vs the five-year average of 71%; while just 36% of oats have emerged compared with the 50% norm by this time of the year.
I don’t need to tell you, but these numbers –particularly in light of the incoming cold (shown below) plus the shortfalls noted elsewhere (such as in Brazil/Argentina/Ukraine/Russia/Kazakhstan)– is nothing short of a disaster. Additionally, you also have a shortage of inputs to factor in: any seeds that do end up in the ground will still suffer due to a lack of fertilizers, pesticides and herbicides (reduced fertilizer application = lower yields).
GFS 2m Temperature Anomalies (C) May 16 – May 28 [ tropicaltidbits.com].
GFS Total Snowfall (inches) May 13 – May 29 [ tropicaltidbits.com].>
(Excerpted from long article, url below)
electroverse.net |
