Just When You Thought All The Bearish News Was Already In The Market
The USDA report 207,000mt wheat sold for export last week, well below trade expectations for 350,000 to 550,000mt.
The USDA put corn exports last week at 391,900 tonnes, near the low end of trade estimates, and soybean exports at a only 359,800 tonnes, a marketing-year low and also well below estimates.
Stats Canada come out with some monster numbers on wheat, barley and canola. The 2008 Canadian wheat crop was forecast at 28.611 million tonnes, up 42.7 percent from last year.
The Canadian canola crop shows an increase of more than 3mmt on the 2007/08 crop of 9.529mmt, at 12.642mmt it is easily the largest in Canadian history.
China says it's southern provinces are to increase winter grain and oilseed planted area by 700.000 hectares, saying it has 9.3 million acres of unused land in the region that could be used for agricultural purposes.
Chinese soybean and rapeseed futures both hit limit down Friday.
Crude closes last night at a 47-month low of $43.67 a barrel, down $3.12 or 6.7%. Remember all the Septics moaning when gas prices hit $4/gallon, now it sells for as little as $1.35/gallon.
Australian wheat closes A$11/tonne down Jan '09, with some deferred months down as much as 7% or $20.40/tonne.
As of 1 November, grain stocks in Russia increased by 42% compared to the previous year – to the level of 61.8 mln tonnes, according to the Federal Service of State Statistics of Russia. The increase comes despite having exported 10 mln tonnes of grain already this marketing year.
The USDA put corn exports last week at 391,900 tonnes, near the low end of trade estimates, and soybean exports at a only 359,800 tonnes, a marketing-year low and also well below estimates.
Stats Canada come out with some monster numbers on wheat, barley and canola. The 2008 Canadian wheat crop was forecast at 28.611 million tonnes, up 42.7 percent from last year.
The Canadian canola crop shows an increase of more than 3mmt on the 2007/08 crop of 9.529mmt, at 12.642mmt it is easily the largest in Canadian history.
China says it's southern provinces are to increase winter grain and oilseed planted area by 700.000 hectares, saying it has 9.3 million acres of unused land in the region that could be used for agricultural purposes.
Chinese soybean and rapeseed futures both hit limit down Friday.
Crude closes last night at a 47-month low of $43.67 a barrel, down $3.12 or 6.7%. Remember all the Septics moaning when gas prices hit $4/gallon, now it sells for as little as $1.35/gallon.
Australian wheat closes A$11/tonne down Jan '09, with some deferred months down as much as 7% or $20.40/tonne.
As of 1 November, grain stocks in Russia increased by 42% compared to the previous year – to the level of 61.8 mln tonnes, according to the Federal Service of State Statistics of Russia. The increase comes despite having exported 10 mln tonnes of grain already this marketing year.
