"Now the market's in a situation where you're gonna have very low inventory levels, very slim plantings and by next spring it could be a real issue," Peter Boockvar, chief investment officer of Bleakley Advisory Group, told CNBC'sCorn futures are up more than 20% this month, while soybean futures have risen more than 2% in May and wheat futures are up more than 18% this month.
In a record-breaking wet spring, flooding in key farming regions have caused unprecedented delays to planting, causing lower-than-expected inventory levels. In corn, 58% of the intended planting has been done, compared to 90% at this point historically. For soybeans, only about 30% has been planted, versus about 65% normally, said Boockvar.
Alongside bad weather, the U.S.-China trade war is further complicating the planting picture. Before trade tensions heightened, China was responsible for more than 60% of soybean exports.to help farmers, a group that played a major role in Trump's 2016 victory, who have been hit by the trade war. The farm aid legislation will compensate farmers, mainly in cash payments, for about 10-months of trade war loses.
Saya mau lihat apakah harga jagung futures berdampak ke Indonesia yang di claim sudah swasembada kementan Kemendag
Glad someone is happy about the destruction of our stuff up here.
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