It's All Kicking Off In Ukraine

Ukraine's Jan 1st wheat stocks stood at 7.6 MMT, down 2.6 MMT, or 25.4 percent on Jan 1st 2009, according to the State Statistics Committee. The USDA currently have them consuming 1 MMT/month domestically, that would leave them just 1.6 MMT to export in the entire first half of 2010 before they run out.

The cash-strapped country have, as you can see, been exporting grain like there's no tomorrow.

And for Prime Minister Yulia Tymoshenko, maybe there is no tomorrow.

The country has been locked in a bitter power struggle for years, with the pro-West Ms Tymoshenko fighting head-to-head against the pro-Russian Viktor Yanukovych. The latter got the nod by a tight 3.48% margin in a cliff-hanging vote, the final results of which were only announced yesterday.

But Tymoshenko is refusing to go, she's a woman, that's all the information you require. She's demanding a recount and accusing Yanukovych's camp of rigging the vote, whilst refusing to let anyone pack so much as a pair of shoes.

Pickford's Ukraine branch will be clocking up some demurrage on this one.