We've Never Seen Anything Like This Before

At least not since the last time we saw something like this. Blimey London wheat up a fifteen quid, Chicago wheat up the 60 cent limit on the overnight market and Paris wheat up 19 euros.

Where are all the "burdensome stocks" brigade now then? The danger is that this now leaves the door open for the "the world is going to starve to death, I told you this was coming" loons to come crawling out.

Russian PM Putin will support a "temporary" ban on grain exports to take effect from August 15th and last for the remainder of 2010 is the story currently doing the rounds.

That shouldn't pose too many problems, Ukraine have plenty of wheat to sell at these prices now that they've just cancelled all their old contracts!

Egypt's GASC chairman Nomani Nomani really will be sweating like a gerbil in a gay bar now. He'll suddenly be willing to accept any wheat from anywhere via any mode of transport. I might start a tractor and trailer ferry up from Romania at this rate. Or maybe he'll start buying wheat delivered via freepost on eBay?