Overnight grains - well that bailout's worked a treat, cheers
Sorted, not. Overnight grains are heavily lower on what is rapidly becoming a crisis. Reality is hitting home and the great rescue plan is already yesterday's news.
Crude has extended last week's heavy loss & Asian stocks, beans, corn and wheat are all taking an early bath as money pours out of commodities.
Crude is almost $4 lower at 9.30am, with November standing at $90.03/barrel, Dec and Jan are now both below the $90/barrel mark.
Soybeans are around $55c lower, with corn down around 23c and wheat circa 28c lower.
Fundamentals are going out of the window, much the same as they did on the rally to all-time highs earlier in the year, as funds stampede for the exit. Commodity markets are now heading for the biggest annual decline since 2001.
Crude has extended last week's heavy loss & Asian stocks, beans, corn and wheat are all taking an early bath as money pours out of commodities.
Crude is almost $4 lower at 9.30am, with November standing at $90.03/barrel, Dec and Jan are now both below the $90/barrel mark.
Soybeans are around $55c lower, with corn down around 23c and wheat circa 28c lower.
Fundamentals are going out of the window, much the same as they did on the rally to all-time highs earlier in the year, as funds stampede for the exit. Commodity markets are now heading for the biggest annual decline since 2001.
