US crop prices continue to rise to multiyear highs, creating ripples across the globe. With Midwestern states’ planting seasons already concluded, or set to wrap up in the next few days, farmers remain drastically behind on their usual outlays. Flooding, which has not only drowned countless acres of wheat, corn, and soy fields, has also closed ports and halted river barge shipments across the region, backing up supply from Louisiana to Minnesota.
Further, the swine flu that has decimated China’s hog supply has pushed pork prices so high that consumers in the world’s most populous country are seeking substitutes and driving prices across multiple imported meat products. As a result, we are re-affirming our LONG Agricultural Commodities theme.
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