If not, why not?
If they did foresee the price spike did they share this information with the Biden Administration and our Western allies?
These questions come to mind looking at a couple posts from the last few months:
January 6, 2022
December 30, 2021
On December 11 we posted "China snaps up large volumes of French, Ukrainian feed grain" with the comment:I'm not sure what to make of this beyond the obvious, that China hasn't been able to feed itself for a while now. They are going into the markets large-by-large.Well, after cogitating on this for three weeks and more importantly, asking some bright people what is going on, I'm still not sure what has prompted the Chinese to go into hyper-hoarder mode but something is up.....
We do have historical evidence of incompetence:
November 11, 2021
That Time The CIA Completely Missed A Soviet Crop Failure And Allowed The Sovs To Buy American Wheat On The Cheap
In which case we should probably just shut the CIA down.
On the other hand, if the Administration was informed, and decided not to tell the American people what they forecast, they may have some explaining to do.
Today wheat hast traded between 1363.50 (new record high) and 1202.00.
1287.75 last, down 6 1/4 cents.
