Commerzbank Pulls out of Food Price Speculation

Aug 13, 2012

Commerzbank’s Moral Move

The 2012 drought that’s hammering the Corn Belt regions in the U.S. and parts of Canada has been stirring up chaos in the food price debate with every major bank and agriculture economics expert speculating on what food prices are going to do in response to the drought. It’s been a circus of speculating opinions, instilling fear among farmers and consumers alike. For one bank speculating on food prices is a moral statement, Commerzbank one of the biggest banks in Germany has said that they will stop speculating on basic food prices as they will not play a role in artificially pushing up food prices.

"If a bank can't be sure which damage such speculation may cause, it should not offer such funds to be on the safe side," Foodwatch Germany Managing Director Thilo Bode said in a statement.

Commerzbank has eliminated all agricultural products from its Commodity fund, to ensure that their agricultural funds don’t artificially spur food prices contributing to possible hunger in some parts of the world. This is an admirable move made by Commerzbank and they should be commended on their leadership and signalling to the world that they don’t plan on exacerbating the food price scenario.

Video: Spring Planting Prep Just Got Serious… We NEED This!

Getting closer to planting season means one thing… it’s time to get EVERYTHING ready.

Today didn’t go exactly as planned—we thought we’d be hauling potatoes again, but instead we spent the day digging equipment out of the cellar, hooking up the grain drill, and getting tractors ready to roll. With wheat planting just around the corner, every piece of equipment matters.

Of course, it wouldn’t be a normal day without a few problems… dead batteries, hydraulic issues, and a truck tire that absolutely refused to cooperate. We tried everything—jump packs, bead bazooka, ratchet straps… and eventually had to bring out the “big guns” just to get things moving again.

But that’s farm life—adapt, fix, and keep moving forward.

We’re getting close to go-time. Wheat seed is coming soon, and planting season is right around the corner