"Buffers Running Down Quickly": HSBC Warns Next Global Food Shock Brewing

"Buffers Running Down Quickly": HSBC Warns Next Global Food Shock Brewing Warnings on Wall Street about a confluence of stressors building deep within global agricultural supply chains are growing louder by the week, raising the risk of a food crisis next year. JPMorgan analysts warned last week that the next global food crisis "won't be short-lived." HSBC analysts sounded a similar alarm, pointing to tightening grain supplies, El Niño, disruptions at maritime chokepoints, and a supply "squeeze" sending grain prices soaring. HSBC economist Jamie Culling, who covers Australia, New Zealand, and global commodities,...