The Rising Influence of Rising Affluence

[wow_happens28]

I don't buy it. Corn and soy should do better than wheat. But, drought affects all food prices in the end. The Dakotas, Montana and now parts of Nebraska and Iowa are having droughts, not as bad as some years.

Des Moines Iowa,rainfall June through August 10th is down 64% from normal.
https://www.wunderground.com/history/airport/KDSM/2017/8/10/MonthlyCalendar.html?req_city=Des%20Moines&req_state=IA&req_statename=&reqdb.zip=50301&reqdb.magic=1&reqdb.wmo=99999

Other areas as well. But yes there is always a drought somewhere, but more world wide this year than last, and a BUMPER CROP, I don't buy it.

http://droughtmonitor.unl.edu/

Southern Europe is having what they are calling "The Lucifer Heat Wave, comment in story "Farmers are also warning that the intense heat will have a significant impact on crops."

But most of this area was already in drought before the latest heatwave.
http://news.sky.com/story/lucifer-heatwave-poses-major-risk-to-parts-of-europe-10974804

https://gis.ncdc.noaa.gov/maps/ncei/drought/global

Dicamba has affected 2.5 million acres, known. That is not as much as it sounds. In square miles it is 3906, or an area 62.5 miles by 62.5 miles. But, that is like a drought area 3 times the size of Rhode Island.

https://www.ecowatch.com/monsanto-dicamba-2468298141.html

Cyber attacks that began in the Ukraine spread across Europe disrupting shipping. Some companies had major losses. If these hackers had a lot of fun, why not disrupt the whole world? OK this point is a stretch, but disrupted shipping could result in much high food prices.

https://www.reuters.com/article/us-cyber-results-idUSKBN1AI2CQ

The dollar? If it keeps falling most everything relatively will go up in the USA in food, since most food trades world wide. I see no reason for the dollar to go up.

http://www.finviz.com/futures_charts.ashx?t=DX&p=m1

And let's not forget the super weeds immune to Roundup>>>
http://www.desmoinesregister.com/story/money/2016/12/15/invasive-super-weed-spreads-through-iowa/95037406/

Myself I see this as nearing a triple bottom and I don't see RJA closing below the June low. I don't trust government figures and estimates. We have all seen how they are continuously revised. I also believe in major manipulation at many levels. We have all read stories. of it. I may add tomorrow after I see the open. This is a sucker punch to the bulls, IMO and not reliable forecasting with my info above. News is always bearish at a bottom and very bullish at the top?

http://stockcharts.com/h-sc/ui?s=RJA&p=D&yr=1&mn=7&dy=0&id=p94637490354