The above chart shows the Teucrium Corn Fund (CORN). The price has popped in recent days due to new data coming out of corn growing areas in the Midwest of the US. The corn crop is way behind in planting due to abnormal amounts of rain that continue to fall in these growing areas.
This map is updated every Monday at the following site. Putting these numbers into context makes the situation even more concerning.
If one looks at the 5 year average one notes that overall the US is 30 % behind where they should be at this point in time with respect to planting. This is significant because farmers I talked to Illinois have told me that everyday past 5/15 that they are not planted they are potentially losing up to 2% yield on the back end.
In addition, there are decisions to be made vis-a-vis crop insurance and timing around whether to even plant a crop at all this year. At least in parts of Illinois there is not point in planting a crop after 6/5.
Now this potential crop disaster is anecdotal information and does not confirm my thesis about a cooling earth and not a warming earth as most people believe (or shall I say programmed to believe).
I believe the climate does in fact change (this is a historical and geological fact). There is no doubt about that. My view, and the data I continue to observe, continue to lead me to believe that the earth is heading for a period of cooling not warming.
If I am correct we will see more and more evidence around weather outliers like late springs, early falls, crop failures, more snow and more ice. If this does occur than it will happen over time (decades) and will not be linear.
In my 5-25-19 “Weekly Market Update” I discuss my views regarding the coming cooling.
You can check it out here.
We need to keep an eye on this developing situation in agriculture. The media is invested in the AGW narrative. They rarely if ever report on these items. There is a potential for crop failure which would feed through to meat prices (animals are fed corn) and possibly higher gasoline prices (ethanol consumes almost 40% of us corn)
One man’s pain can be anothers gain.
If you are interested in the history of past cooling phases in earths recent past and how it shaped events I recommend Brian Fagan’s book; “The Little Ice Age; How Climate Made History 1300-1850”.