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.