What Was Happening A Year Ago

Some things have changed a lot in twelve months, whilst others have hardly altered at all. Here's a brief summary of what was going on in the market during January 2009:

China buys 50,000 MT of UK wheat. BoE drops UK interest rates to 1.5% - the lowest since the central bank was founded in 1694. Britain’s trade gap hits 8.330 billion pounds, the largest since records began in 1697. Statistics finally prove that we are officially in a recession. Pound hits a 23-year low of $1.35 against the dollar, and threatens to go to parity with the euro hitting 1.0285. Shares in Royal Bank of Scotland tumble by almost two-thirds in one day after it announces the biggest loss in British corporate history. Russia cuts off gas to Europe via Ukraine. March Paris milling wheat ends the month worth EUR151.00/tonne, whilst London May feed wheat is at GBP119.50/tonne. March soybeans are worth USD9.80, March corn USD3.79 and March CBOT wheat USD5.68 a bushel.