Assessment: Abdul Hameed, director of sales at Manzoor Trading in Lahore, Pakistan, said the edible oil is in “uncharted territory,” and prices could climb even higher. He said, “the global supply and demand situation is a very, very big concern.”
Edible oil prices soared this week, prompting fears that record-high food prices could be imminent. On Wednesday, soybean oil futures in Chicago hit their highest levels since 2008, and palm oil, the commodity used in thousands of food products, jumped to new highs.
Soybean prices increased 1.4% to 71 cents per pound, the highest level since 2008. US canola futures are also on the verge of an all-time high, and palm oil in Malaysia hit a new record high of $1,434 per ton.
“And do not harm the oil and wine” Re. 6:6
“Drought has crimped soybean crops across South America this season. Rival oilseeds like palm and canola have also suffered shortfalls from adverse weather and labor shortages. And escalating political tensions involving Ukraine and Russia pose a risk for sunflower oil exports, which the two countries dominate,” according to Bloomberg.
Ivy Ng, the regional head of plantations research at CGS-CIMB Securities, said,
“for the supply side, everything that could go wrong, went wrong; problems “hit all the key producing countries, whether it’s palm oil or a competing oil. There’s no reprieve in the short term, and people are reacting to that.”
Earlier this month, Goldman Sachs’ Jeff Currie warned that shortages across commodities could send higher prices. He said markets are “incredibly tight from a physical perspective” … “we are out of everything, I don’t care if its oil, gas, coal, copper, aluminum, you name it we’re out of it.”
Soaring edible oils could be the next catalyst that catapults the FAO (Food and Agriculture Organization) Food Price Index (FFPI), a measure of the monthly change in international prices of a basket of food commodities, to a new record high for February. New FFPI data is expected in early March. As for now, FFPI sits near a record high in terms of January prices.
Read More @ Zero Hedge HERE
Few things are more predictable than Israeli officials taking time out of their busy schedule to complain about Iran, with Prime Minister Naftali Bennett going in hard in condemning Iran’s nuclear talks lately.
Those talks are making progress expected to result in a deal, however, and likely anticipating a new salvo of Israeli comments, the State Department is criticizing Bennett’s comments, saying that coordination would be the best way to achieve their mutual goals.
“After many days you will be called to arms. In future years you will invade a land that has recovered from war, whose people were gathered from many nations to the mountains of Israel, which had long been desolate.” Ez. 38:8 NIV
“We cannot make the same mistake another time and put off another opportunity for diplomatic progress,” a Biden admin spokesperson said in response to Israeli criticism. The reference to “same mistake” was to Trump’s 2018 move to unilaterally pull the United States out of the JCPOA nuclear deal.
“We believe that diplomacy, alongside coordination with our allies in the region, is the best way to achieve our goal,” the official added. “We will not respond in the media about details from the talks.”
Officials say they are in contact with Israel on a daily basis, consulting on the process. Israeli officials are playing up the idea that the deal is regionally dangerous.
US interest would be in Israel keeping its mouth shut on the matter.
Read More @ Zero Hedge HERE
CBDC's, de-dollarization, digital ruble, digital yuan, dollar reserve status, world reserve currency
Assessment: To that end, the Convoy’s primary demand is that the declaration of a National Emergency Concerning the Coronavirus Disease (COVID-19) Pandemic be ended, rescinding all the extra, and supposedly temporary, emergency powers given to the executive branch …
“Let Freedom Roll” is the slogan of “The People’s Convoy” set to depart Wednesday morning from Adelanto, California, on its way to Washington, DC, to protest federal coronavirus mandates and call for an end to President Joe Biden’s emergency declaration.
Convoy organizers Marcus Sommers and Maureen Steele spoke to Breitbart News about their “peaceful” transcontinental movement to “defend our freedom” at a time when “our freedom is on the line and tyranny closing in.”
“When the righteous are in authority, the people rejoice;
But when a wicked man rules, the people groan.” Proverbs 29:2
“The freedom to choose is what our country is founded on, what our military has fought for, and died for, and bled for, and sacrificed everything,” Sommers, who has been a trucker for 34 years, told Breitbart News. “We must stand up, this is our duty. … I feel this is also a way, for myself personally, that I can fight for my country and its people.”
“The blue collar boys have historically always been the first to jump in and defend our freedom,” Steele, who is a paralegal, mother, and wife, and had no previous experience with truckers, explained. “Whatever war it’s been, throughout history, it’s always the blue collar boys that are the first in, they sacrifice the most, they’re the first to sign up, and they’re doing it again. I mean, here we are again, in 2022, with our freedoms on the line and tyranny closing in, and one more time, it’s the blue collar boys. So they’re the tip of the spear, and we owe them a world of gratitude.”
Both Sommers and Steele emphasized the importance of truckers to American society. “Without trucks, we are the lifeblood of America. I mean, everybody dies. There would not even be doctors or nurses. They couldn’t even continue on without trucks,” Sommers said, explaining that truckers are often the unseen, unsung heroes of society who allow for access to all things from basic necessities like food and clothing to whatever someone ordered on Amazon.
Read More @ Breitbart HERE
39; Daniel 11:40-45, Bashar al-Assad, Damascus, Ezekiel 38-39, Gog, Psalm 83, Vladimir Putin
