The View This Morning

Posted by Nogger - a legend in his own mind at 10:13 | Categorized as

13/12/11 -- Egypt are tendering again for wheat today. It will be interesting to see how close French wheat can get to Black Sea and Argie offers, having narrowed the gap considerably of late. US wheat probably won't even get offered (again). Last week was the first time this marketing year that the world's largest wheat buyer bought anything from outside eastern Europe/the Black Sea.

Last night's Jan 12 London wheat close of GBP141.00/tonne was the lowest for a front month since July 2010.

Australia could be in for a wheat crop in excess of 29 MMT, according to this report: Strewth Cobber - the highest in history.

Having dropped their estimate to 23-24 MMT only a week ago, Ukraine's Ag Ministry now says that the country will export 27 MMT of grains in 2011/12. Having only exported 7.3 MMT so far, shifting another 20 MMT in less than 7 months would be nothing short of miraculous.

Consumer Prices Index (CPI) inflation here fell to 4.8% in November, from 5% in October, according to the Office for National Statistics.