Monday, March 21, 2022

202022.

A grim year is going to get grimmer as it drags on. 

To wit, American farmers can't take advantage of soaring wheat prices because commodity markets are spooked.  

After Russia's invasion of Ukraine sent global wheat futures soaring, U.S. farmer Vance Ehmke was eager to sell his grain.

Local prices shot up roughly 30% to nearly $12 a bushel, about the highest Ehmke could recall in 45 years of farming near the western Kansas town of Healy.

Instead of reaping a windfall, Ehmke found a commodities market turned upside down. He and his wife Louise told Reuters they couldn't sell a nickel of their upcoming summer wheat harvest for future delivery. Futures prices for corn and wheat had rocketed so abruptly that many along the complex chain of grain handling - local farm cooperatives, grain elevators, flour millers and exporters - stopped buying for fear they couldn't resell at a profit.

On the other hand, agricultural profit projections are extra-murky as diesel prices soar into the stratosphere.

First pestilence and death, now another war, perhaps famine

 

I have taken to cramming together the last three years into one super-horrible one with six numbers--hence the title. A safe bet I'm going to have 202023 in the hopper.

Fret not, Americans who earn less than $300,000 per year! Mike Bloomberg's digital steno pad has some advice for getting through the latest twist in the anni horribili.

Now, the article itself is not that bad--apart from the "let them eat lentils" bit. But someone at Bloomberg's Twitter account added the tag line of "nobody said this would be fun." 

Hoo, boy. 

And while I like lentils, they are persnickety, requiring hours of careful soaking and repeated washing to avoid the gritty "I just ate a lot of chaff" aftertaste

Anyway, it's going to get worse and worse, so prepare as best you can.

 


 

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