Blame it on the Rain......Get ready for bread and corn products to really skyrocket in price.....

[marmar]

Who knew that Milli Vanilli lyrics would ever be useful?...."Blame it on the rain that was finally falling..." :silly:



from Bloomberg:



Corn Surges to Record on U.S. Crop Loss; Soybeans, Wheat Rally

By Jeff Wilson and Tony C. Dreibus

June 11 (Bloomberg) -- Corn topped $7 a bushel for the first time, while soybeans and wheat rallied, as Midwest rains and flooding damaged the U.S. crop, threatening to reduce supplies at a time of record demand.

More than 4 million acres of corn were left to be planted as of June 1, before Midwest fields received up to 12 inches (30 centimeters) of rain in the past week, government data show. Some fields in Iowa, the biggest corn-growing state, may receive 6 inches of rain in the next 24 hours, said Mike Tannura, a meteorologist for T-Storm Weather in Chicago.

``It's clearly a panic situation,'' said Gary Rhea, president of Risk Management Partners in Des Moines, Iowa. ``The problem is the market just doesn't know the extent of the acreage and yield losses from the rains.''

The U.S. Department of Agriculture cut its corn-crop forecast yesterday to 11.735 billion bushels, down 10 percent from last year's record. Before next year's harvest, inventories will plunge to a 13-year low. The price of corn, used mostly to make livestock feed and ethanol, jumped 78 percent in the past year and touched records in each of the past five sessions.

Corn futures for July delivery rose 30 cents, or 4.5 percent, to a record $7.0325 a bushel on the Chicago Board of Trade. The 30-cent gain was the maximum permitted by the exchange.

Farms in Iowa were drenched with 5.78 inches of rain last month, or 37 percent more than normal, according to state climatologist Harry Hillaker. The 22.23 inches that fell on Illinois from January through May was 45 percent above normal and the third-wettest on record, according to data compiled by the state. .......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=arH_jb_T7FpI&refer=home

[napi21]

1. I hate to break it to ya, but all grains already HAVR skyrocketed!

I've been making my own bread & buns for over a year...to try to save $$. I HATE the prepackaged stuff, and when the bakery loaf started to exceed $2, I refused to pay it. NOW the bakery charges almost $4! My problem now is that bags of flour that I used to pay .89 for are now almost $3.00!!!!!

Last week, I heard they were haveing a shortage of hops so the price of beer was going to go up!

I don't even want to think about how this flooding is going to impact the grain market!!!!!

[kestrel91316]

6. I try to bake most of my bread in the cooler months, but

in the summer I just CAN'T. It heats up the apartment way too much, and then I have to spend more money cooling it down (it can hit 119 in my area - AC is not optional). May as well just pay more for "store-boughten", and sort of lay off the bread so much (as I should anyway).

[napi21]

7. Did you ever consider a breadmaker? I bought one from Ebay

a couple of years ago for $20 and shipping was less than $10. It's been working GREAT, and it doesn't heat up the kitchen like the oven does.

[kestrel91316]

12. I don't like the way the bread turns out with them. Besides, I HAVE

a "breadmaker":

[TommyO]

15. Hey, I have a set of those also. I wonder if I could make bread?

[napi21]

16. I've tried using them! Failed every time! I even tried kneading the

dough sith my dough hook. I have no idea what I'm doing wrong, but the breadmaker does it right. Most of the time I use the dough cycle and bake either in the toaster oven (which doesn't generate as much heat) or in the oven, but bread or buns don't have to bake for very long, so I do it early in the morning, and the house doesn't get warmed that much.

[elocs]

8. I can and have baked my bread outside using a solar oven. Works great.

I have had people knock on my door to ask what that thing is out in my yard as they can smell bread or cookies baking, or maybe chicken or a pork roast. Baking that way does keep the house cooler on a hot summer's day plus it is free.

[kestrel91316]

13. I am in an apartment with a balcony that gets 2 hours of filtered sun in the late

afternoon......so NO solar oven capabilities.

[elocs]

14. I must admit, you do need sunshine for a solar oven to work,

but it may be an option for others who have never considered it and it is very green. The truth is, it still works in the dead of a Wisconsin winter--just takes longer.

[Tashca]

2. delete

[Indenturedebtor]

3. I will eat other stuff

Here in the US we have enough varieties of food that I can switch to other choices. We don't eat many carbs at my house anyways. People will just have to eat what's available.

[shanti]

4. yes

just live everyone else!

[Indenturedebtor]

9. Well yeah everything will get more expensive

But we will be fine. I don't eat much as it is.

When you make everything from scratch food is still dirt cheap. It's the processed crap that raises the food bill.

[Breeze54]

5. Bad for farmers but we could all use a lot less corn in ALL our food... it's in everything!

Making America fat. The farmers have a safety net. Didn't the Farm Bill just pass?

[TexasObserver]

10. I salute you for getting in the Milli Vanilli reference.

it was FABulous.

[OzarkDem]

11. I'm planting a garden

[Rex]

17. If we had a prosperous nation, we could survive this without much damage

but after 8 years of insane 'nation building' we will be lucky if we don't all end up in a soup line.