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Bird Flu, World Starvation, Put Options, Rain Days Update 5/8/22

Highlights


Bird flu is sweeping across the U.S. will soon be the country’s worst bird flu outbreak. More than 37 million chickens and turkeys have already been lost and more every day. That is a lot of corn and bean meal not going to be fed this spring.


Hungary and Slovakia refused to agree with the rest of the EU members to ban imports of Russian oil. The EU Charter states all members must agree 100% for an EU ban on imports or exports of anything to take effect.


Wayne Bacon is Hammersmith Marketing. At 80 years of age and a world grain trader, he has seen everything. Yesterday, in his weekly report to the world’s grain traders, he wrote:

Corn also was down last week due to faster spring planting in the US, but no one expects corn prices to go much lower ---- just too much demand for corn for both export markets and ethanol production.

The United Nations World Food Program (WFP) has warned yesterday that millions of people are "marching towards starvation" unless ports in Ukraine are reopened.

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