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Low-Price Food Tremor

Touch the Soil News #465 Wheat farmers in America rise and fall on the USDA’s reports of production. If the USDA reports production is up, speculators say there is an oversupply and farm prices often collapse. The USDA’s August 2016 World Supply Report reveals that the world will produce 743 million metric tonnes of wheat this season. This is 4 percent more than what was produced in the 2013 season. Since 2013, wheat prices and profitability of wheat farming have plummeted. The seal of the USDA. Unfortunately, the production estimates of the USDA often are the basis for speculation that can artificially drive prices down (hurting farmers) or drive prices…

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