US Ag. Secretary - "We Have Never Been Less Secure About The Near-Term Future Of Wheat" - Forbes

[hatrack]

KANSAS CITY, Mo. - The world has "never been less secure" about the near-term future of wheat as crop failures and disease combine to threaten food supplies, U.S. Agriculture Secretary Edward Schafer told food aid groups Wednesday.

Schafer told the International Food Aid Conference meeting that crop failures have left global wheat stocks at their lowest point in 30 years and U.S. wheat stocks are at 60-year lows. Climate changes that have spawned unrelenting drought, floods and late freezes have all had an impact.

This has left the world at particular risk for a highly virulent wheat disease called African stem rust that is quickly spreading to places such as Uganda, Ethiopia, Yemen, India, Pakistan and Iran.

"We have never been less secure about the near term future of wheat," Schafer said. "With over 75 percent of U.S. wheat acres planted to varieties that are highly susceptible to this disease, the threat here at home is real and it is urgent." The disease, which is carried by wind spores, would be devastating to global food supplies if it affects the U.S. wheat crops, now valued at $16 billion.

EDIT

http://www.forbes.com/feeds/ap/2008/04/16/ap4898074.html

[Muttocracy]

1. Gates Foundation is funding a big project on the wheat rust.

http://www.news.cornell.edu/stories/April08/wheat.rust.lm.html

[kestrel91316]

2. (kestrel quietly sneaks off to buy another ten pounds of flour.....)

[GliderGuider]

3. No problem. The economists assure us that everything is infinitely substitutable

So if wheat gets scarce we'll just switch to rice.

What?
Bangladesh?
You're shitting me.

Well, never mind then. I can eat rusty wheat.

[phantom power]

4. jellyfish.

[GliderGuider]

5. Of course. How could I have forgotten about the jellyfish?

And they make friendly, well-behaved pets, too!

[NickB79]

6. Any word on how the Australian wheat crop is looking?

Have the recent rains been enough to break the drought?