Two food supply stories have been reported in the past couple of days that deserve a closer look. In both cases, extreme weather is the cause, and the implications are frightening when viewed in terms of climate change. The Financial Times of London reports that worldwide grain stockpiles are at a 25 year low. The major hit was seen in Australia where drought has reduced the crop yield by more than 50%. Ukraine has instituted quotas on grain and the USDA has revised, lower, the grain output of China, Brazil, and the EU.

The concern now is what happens next year. If we have poor conditions for growing wheat again, supplies could get very tight and we might see some demand rationing,” said Dan Cekander, grains analyst at Fimat.

The second food alarm is found in Florida, where the orange yield this year will be at its lowest point in 16 years, mostly attributed to recent severe storms. See the Providence Journal for that story.