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Way Too Many Potatoes, Farmers Find Ways to Dump Their Crops

Due to the COVID-19 pandemic, there are an over abundance of potatoes in Canada and worldwide.  According to the United Potato Growers of Canada, approximately 200 million pounds of potatoes are in limbo.
 
Processors in our province are full as many restaurants that would typically purchase french fries are closed or are purchasing substantially lower amounts.  Some farmers in Idaho have such extreme surpluses of potatoes, they're dumping crops and dairy farms have started feeding potatoes to their cattle. Despite a growing demand in grocery stores, potato prices have plummeted in the last few weeks due to social distancing and a lack of demand in restaurants and the food industry. Only a few weeks prior, the industry was looking at the best prices in recent memory with even a projection of a summer shortage of spuds.
 
There has been an initiative in Canada and around the world to help potato farmers, eat more french fries.  French fries account for approximately 65% of the total potato crop in Canada.  So, to help our Alberta potato farmers, maybe have french fries as a side more often.  
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Iran War = “Trend is Your Friend” Short-Term BUT……

Video: Iran War = “Trend is Your Friend” Short-Term BUT……


Historically wars like the 2026 Iran war are bullish hard assets like grains, metals and energy! The funds are spooked and do not want to be short, but do they price in the news over time, similar to the Ukraine/Russian war that started on Feb. 24, 2022? A closure of the Strait of Hormuz is the key to the surge in crude oil, natural gas prices and fertilizer prices.  Grains are breaking out to new contract highs as a hedge against inflation.