And coffee futures are up partly due to frost damage in Brazil
From the “Paul Ehrlich is still spectacularly wrong” department:
Malthus Chokes on Bumper Wheat Crop
A generation after leading scientists and experts warned the world of an escalating series of horrendous famines, the crop gluts continue. The latest kick in the pants to the Malthusian doomsayers is a bumper global wheat harvest. Defying not only the Club of Rome doomsayers, but also the climate Chicken Littles who have been warning about damage from rising temperatures to world agriculture, food production is booming even as meteorologists call July 2016 the hottest month ever.
The FT reports:
Extensive planting and benign weather have forced analysts to repeatedly raise crop outlooks. The International Grains Council last week increased its global wheat production forecast to a record 743m tonnes, up 1 per cent from last year. […]
The recent US winter wheat harvest was 45m tonnes, up 21 per cent from 2015, according…
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