Help Very Urgently Required
What the hell is going on? Last week there was some consternation when Reuters and Dow Jones both released stories saying that the Argy wheat crop was down 18% on last year.
What's so confusing about that I hear you ask? Well, Reuters said that it was down from 9.2 MMT to 7.55 MMT, according to the Buenos Aires Grains Exchange.
DJ said it was down 18% to 7.1 MMT, according to the the Buenos Aires Grains Exchange without specifying from what figure last year, although that would imply down from 8.4 MMT.
Today Reuters report that the Buenos Aires Grains Exchange have dropped their estimate this week from 7.55 MMT to 7.50 MMT.
Also today DJ report that the Buenos Aires Grains Exchange's FIRST estimate of the season pegs the crop at 7.5 MMT, down 18.5% from last year.
Now first off, the Argy crop for 2008/09 has been widely reported for months and months at 8.3-8.4 MMT, depending on who's figures you run with. It was certainly not 9.2 MMT with anybody.
Secondly, how can DJ be reporting on the Buenos Aires Grains Exchange's FIRST estimate of the season when they reported an estimate last week?
Thirdly, how can that estimate have improved by 0.4 MMT according to DJ and decreased by 0.1 MMT according to Reuters????
Buggered if I know.
Fifthly, what happened to fourthly?
Sixthly, if they can't decide even now how big the 2008/09 crop that was cut almost twelve months ago, how the flippin Nora can we put any faith in their estimate for 2009/10??
What's so confusing about that I hear you ask? Well, Reuters said that it was down from 9.2 MMT to 7.55 MMT, according to the Buenos Aires Grains Exchange.
DJ said it was down 18% to 7.1 MMT, according to the the Buenos Aires Grains Exchange without specifying from what figure last year, although that would imply down from 8.4 MMT.
Today Reuters report that the Buenos Aires Grains Exchange have dropped their estimate this week from 7.55 MMT to 7.50 MMT.
Also today DJ report that the Buenos Aires Grains Exchange's FIRST estimate of the season pegs the crop at 7.5 MMT, down 18.5% from last year.
Now first off, the Argy crop for 2008/09 has been widely reported for months and months at 8.3-8.4 MMT, depending on who's figures you run with. It was certainly not 9.2 MMT with anybody.
Secondly, how can DJ be reporting on the Buenos Aires Grains Exchange's FIRST estimate of the season when they reported an estimate last week?
Thirdly, how can that estimate have improved by 0.4 MMT according to DJ and decreased by 0.1 MMT according to Reuters????
Buggered if I know.
Fifthly, what happened to fourthly?
Sixthly, if they can't decide even now how big the 2008/09 crop that was cut almost twelve months ago, how the flippin Nora can we put any faith in their estimate for 2009/10??
