News Snippets

The Baltic Dry Index was down again last night, it's now within spitting distance of crashing below 2000 - closing at 2018, for a sizable 109 point fall on the day. I think that makes it 30 not out.

The Commonwealth Bank of Australia say that this year's wheat harvest will total 22.2 MMT. I'm not convinced it will be that high given the current drought problems in Western Australia state.

Australian Plague Locust Commission director Chris Adriaansen says that good rains in northern Australia during summer had contributed to a "perfect storm" for locusts. Instead of an 80 percent mortality rate in locusts as they moved from the egg stage to adults, favourable conditions this year could mean that "80 percent of those eggs survived," he says.

The Ukraine Ag Ministry say that they may need to cut their grain production estimate by 1-1.5 MMT, as heavy rains continue to disrupt harvest activity.