Oil, Fuel, Corn, Wheat, Rice prices off the chart....Whew! I'm glad we don't use these things.....

[marmar]

I'm sure the :sarcasm: icon isn't necessary.



from the Bloomberg:



Commodities Rise Most in 2 Weeks; Oil, Fuel, Corn Hit Records

By Millie Munshi

April 9 (Bloomberg) -- Commodities jumped the most in two weeks as crude oil, gasoline and corn surged to records following U.S. government reports signaling demand for energy and grain still outpacing supplies.

The UBS Bloomberg Constant Maturity Index of 26 commodities rose 2.7 percent to 1,519.18, marking the biggest gain since March 25. The gauge reached a record 1,573.84 on Feb. 29.

Rising food and fuel costs have triggered protests in countries around the world. Crude oil jumped as high as $112.21 a barrel today as a Department of Energy report showed petroleum inventories unexpectedly fell last week. Corn rose to a record $6.16 a bushel as stockpiles dropped more than anticipated.

``Supplies for a lot of different commodities are dwindling as demand has gained globally,'' said Michael Pento, a senior market strategist at Delta Global Advisors in Huntington Beach, California, which manages about $1.5 billion. ``I'm bullish on all commodities.''

Protests may spread as falling supplies caused by crop failures and greater use of grains for biofuels stoke inflation globally, the United Nations Food and Agriculture Organization said today. The World Bank says 33 countries from Mexico to Yemen may face social unrest because of surging food prices.

``We have seen riots around the world, and there's risk that these will spread because of rising prices in countries where 50 percent to 60 percent of incomes go to foods,'' FAO Director General Jacques Diouf said in New Delhi today. ``The problem is serious.''

Rice, Wheat Double

Rice and wheat prices have doubled in the past year. Global food prices jumped 57 percent in March, according to the FOA. Higher energy prices also will stoke inflation, analysts said.

``Demand around the world is not slowing down,'' said Zachary Oxman, a senior trader at Wisdom Financial Inc. in Newport Beach, California. ``The world has proven that even with a slowdown in the U.S., there's still a huge demand for all commodities.'' .......(more)

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

[librechik]

1. of course not! why that would be inflationary! it might even effect the economy!

thank goodness President Bush doesn't allow such nonsense!

[Kittycat]

2. Hemp has gone up 75%

I know it's not food - but I sell cloth diapers, and have just been notified that hemp used in the products I carry is going up 75% just in raw goods. Mostly due to the falling dollar. So we can expect many imported items to be dramatically increased over the coming year. Cloth diapering is one area some families are really trying to save. It will be hard to help some of my customers understand why even that is becoming a luxury.

[marmar]

3. Hemp is really good clothing material.....

..... I have a T-Shirt made of hemp that I absolutely love!

[Kittycat]

7. Yep. It's highly absorbent as well. The only thing I like better is bamboo.

but bamboo isn't as durable - just holds more liquid and is lighter weight/softer.

I am working a company now to try and get hemp jersey diaper flats (probably much like your t-shirt). Then the consumer can fold them on the baby in any form, or use them as doublers in the diaper. It's supposed to be just as absorbent, but thinner and softer.

[Mojorabbit]

4. Do you have a website?

I do wildlife rehab and the wild babies I raise are hard on cotton diapers which is what I use as bedding for the neonates.
Edited because my sentence made no sense.

[DCKit]

6. There you go. If we were allowed to raise hemp, our problems would be solved. n/t

[madrchsod]

5. they tapped out the housing market

so now they are doing the same to commodities market

[marmar]

8. True that....

n/t

[conflictgirl]

9. This makes me think about the Shock Doctrine again

I swear, that book got me to start viewing current events even more critically than before. Bad economic news is starting to seem deliberate. Sometimes when I think about it more, I realize it's not all conspiracy or deliberate, but what scares me are the number of times when it is. :tinfoilhat:

[uppityperson]

10. I'm planting extra stuff this yr in garden for my chickens.

Cut down on feed cost and all.

[gulfcoastliberal]

11. Life is interesting in a post-peak world.

Agricultural production has peaked and demand outpaced production for the last 3-4 years, same with oil.

These woes (including global warming) are of course the side-effects of gross human overpopulation.