Agriculture's Big Picture
AgWeb Editor Greg Vincent takes a big-picture look at agriculture and current events.
Animal Abuse Update; Where Will China Fall in Korean Conflict
May 27, 2010
The Nikkei 225 closed 1.23% higher overnight.
The FTSE 100 in London is trading higher this morning and the DAX 30 in Germany is also posting gains.
BP’s attempt at a "top kill" of the oil spill is under way. So far so good, but it’s way too early to tell if it will actually happen. The Associated Press is reporting this morning that the Obama administration will announce an extension to the moratorium on deepwater drilling.
There’s a showdown coming on the Korean peninsula and North and South Korea aren’t the only countries involved. China may keep its support the North and the U.S. is standing firm with the South. China says it’s concerned that if it falls into the camp with the South, the U.S. and other countries to blame the North for sinking a South Korean warship, it will escalate to a shooting war.
The Bloomberg/Businessweek Web site reports that Brazilian farmers are starting to hold soybean stocks as the Brazilian real weakens compared to the dollar. The country buys its input in reais, but sells soybeans in U.S. dollar terms. A weaker real and stronger dollar is very beneficial to these farmers.
The guy shown in much of the animal rights video depicting animal abuse at an Ohio dairy farm has been charged with 12 counts of animal cruelty.
The professor best-known for accurately predicting hurricane seasons says 2010 could be a “hell of a year”, says an AP story. A shift in wind patterns on the Atlantic and the dissipation of El Niño are joining together to create the perfect conditions for a strong season.