We apologize for the vagueness, but checkout the charts at the above link. A few short years ago we had agriculture shortages much of it owing to a huge drought. Cattlemen took their cows to market early because they couldn't afford the high costs of feed.
That later led to higher beef prices. California is still in the midst of an horrific drought. The ISIS in Iraq just seized control of much of that country's wheat. The Ukraine situation lingers on and Ukraine is a large producer of wheat.
Today's WSJ carried an article about corn and soybean record crops.
Soybean prices fell nearly 2% as government forecasters estimated this year's crop would be by far the largest in history.
Wheat also declined, while corn rose modestly after the U.S. Agriculture Department projected lower-than-expected yields.
The USDA's forecast for a bumper soybean crop
reflects near-perfect weather in the U.S. Midwest this season and an
11% increase in harvested acres of the oilseeds. As much as three times
the normal amount of rain has fallen in the past three months in the
Farm Belt, improving soil moisture and leading to the best conditions
for the soybean crop in a decade, according to federal data.
U.S.
soybean stockpiles in the 2014-15 season will more than triple from a
year earlier, the USDA estimated, alleviating concerns about low
inventories that have plagued food producers and other soybean buyers
for several years.
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