Farmers Weekly, dated 21st April 07, reported that EU grain stocks are very tight. David Sheppard, managing director of Gledell Agriculture explained, “We’ve had significant volumes of grain in Intervention stores for the last few years, but the commission has effectively sold its safety valve.” This is a very dangerous situation because stocks are low worldwide and if we had a poor harvest for the next one or two years, panic buying would clear the shelves.
Should we be worried?