On The Verge Of A Global Crisis: One Bank Warns Of A “Biblical” Surge In Food Prices

• On The Verge Of A Global Crisis: One Bank Warns Of A “Biblical” Surge In Food Prices
  by Michael Every of Rabobank, https://www.zerohedge.com/
  ….Summary
  * Key feed and food prices have been pulled to 9-month and 7-year highs
  * We explore the ‘dream’ of Biblical scarcity; its origins and impacts; and draw comparisons with Joseph, the trader and central planner who avoided starvation for ancient Egypt
  * One point is clear: global food insecurity falls heaviest on lower income, importing nations, who spend a far greater share of their income on food than the richer ones
  * The Fed would play an ironic role in this process even as it embraces fighting poverty and inequality alongside inflation
  * This could exacerbate (geo)political risk – potentially even regarding institutional architecture
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  Our Base Commodity Call
  At time of writing, our forecasts for three of the world’s key agri commodities, soybeans, corn, and wheat are as follows:
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  read more.

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