In lieu of being able to ramp up my own production of food, time to make room for larger stores of bulk supplies of long-lasting staples, bought now before the price increases hit retail.
@darwinslair @Adam_Asmus @NerdKing52 @TheBrometheus @MorlockP
https://www.zerohedge.com/news/2019-03-30/midwest-apocalypse-satellite-data-show-least-1-million-acres-us-farmland-devastated …
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Replying to @KalkinTrivedi @Adam_Asmus and
well, I have to admit, the scale of this "disaster" is the reason such a large area is good for growing food. The flooding is good for soils, bad for infrastructure. And wait until the New Madrid fault starts moving again.
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Replying to @darwinslair @Adam_Asmus and
I have seen several think-tank documents claiming
in good shape for GSM, financial crises, &c, bc high ratio of arable land compared to population. Can also shift ag belts north & south. But obviously not failsafe. Particularly concerning the storage silos destroyed.1 reply 0 retweets 2 likes -
Replying to @KalkinTrivedi @darwinslair and
While a million acres seems like a lot, and it is a wide swath of territory, the USDA Planting intentions for 2019 came our thursday and there will be an estimated 92.8 million acres of corn alone. 84.6 million beans. It's still a disaster, no doubt.
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Replying to @Adam_Asmus @darwinslair and
As for the bankrupted farms, the land will surely be snapped up quickly, but I wouldn't count on all of it promptly getting put back into production, or staying that way. I wonder how capital investment trends in farming are going.
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Replying to @KalkinTrivedi @darwinslair and
Land prices are still extremely high from what I remember, but it's been a few months since I've checked.
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Replying to @Adam_Asmus @darwinslair and
Where? Iowa? The Chinese were bidding up prime soy & corn land. That money should be drying up soon if it hasn't already. "Extremely high" relative of course. Land prices in my part of world are high, even if economically useless. I was lucky to find my farm at $3.6K/acre.
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Replying to @KalkinTrivedi @darwinslair and
Good farmland in Iowa and Illinois will sell for $10k/acre, though usually itll be between $5-8k
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Replying to @OptimizingMe @KalkinTrivedi and
Vast majority of north and western corn belt is "dry" land. Essentially zero irrigation. Actually we tile our land to get the water away faster.
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same here
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