Looks like it's going to take a lot more than a $6 billion donation from Elon Musk to solve world hunger as edible commodities such as grains and meat become more expensive.
Grains continue to surge higher, with U.S. Corn, Wheat and Oats December 2021 futures rising 6.9%, 5.2% and 28% respectively in the past 30 days. A combination of harvest delays from extreme weathers, run-up in fertilizer prices and record ethanol demand has supported the rally. Funds invested in edible commodities futures such as Teucrium Corn and Wheat funds are up by 5.6% and 5.8% respectively in the past 30 days. The WisdomTree Corn and Wheat exchange-traded-commodities (ETCs) also rose by 6.5% and 5.7% respectively.
In the meat department, December 2021 live cattle rose by 7.0 % since the beginning of October, driven up by strong demand, supply chain disruptions, and high feed and other input costs. Consequently, WisdomTree Live Cattle, which invests in live cattle futures rose by 2.9% during the same period.
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