Grain markets at a pivot point, global food security could take years to return, as war and weather hurt supplies
Published Jul 3, 2022
Tridge summary
Bloomberg writers Kim Chipman, Eleanor Song, and Tarso Veloso Ribeiro reported yesterday that, “Global grain markets are at a pivot point, with prices finally starting to ease after a dizzying surge earlier this year.” The Bloomberg writers explained that, “Russia’s invasion of Ukraine has stifled exports from a region that’s known as the world’s breadbasket. The disruption has sent crop futures to near-record highs, with stockpiles extremely tight.
Original content
Bloomberg writers Kim Chipman, Eleanor Song, and Tarso Veloso Ribeiro reported yesterday that, “Global grain markets are at a pivot point, with prices finally starting to ease after a dizzying surge earlier this year.” The Bloomberg writers explained that, “Russia’s invasion of Ukraine has stifled exports from a region that’s known as the world’s breadbasket. The disruption has sent crop futures to near-record highs, with stockpiles extremely tight. That’s adding to rampant food inflation and raising fears of global grain shortages. “But in order to keep food inflation at bay, every bushel of US acre will need to see maximum yield potential. And every bushel of grain will count.” Chipman, Song, and Ribeiro added that, “There’s also concern over drought this summer for parts of Iowa and Illinois, a US government outlook shows. That could further endanger yields as climate change makes extreme weather events more likely to occur and more severe. “Already, scorching heat in parts of ...
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