The demand side is going to explode this year due to
-extensive flooding in China (once in a hundred year old flood) for the last 50 days and still in crisis with the 3 Gorges Dam overflowing. Dam has to released water due to excess rainwater at the top of the dam AND nearly full capacity at the lower Yangtze River. This cause flooding to South and southeast China. Southwest China is also flooded. ATM the crisis is ongoing.
There is even fear of the 3 Gorges Dam failing.
- Indian also has floods AND locusts plague at the moment.
- Russian and Indonesia also has floods occuring.
- North Africa, Pakistan, middle east and China has swarms of locusts marching through their lands.
All these high populous regions will need to find feeds . Cost of grains will feel prices pressure.
DYOR
ELD Price at posting:
$10.52 Sentiment: Buy Disclosure: Held
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