The View This Morning
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgne-gz6XwSUUks9vwqunVBAcY2mlCCCOwfw-7O_TfgFVVEccZS3pr6KCsbkWQbLfJmgW2mR-_BCX8p0VbuUmZO2L2jFr_ag66wmJjOzFZz57M8gd70rKOAwy4hL_w0J0Y5KR2Iyg5tpSBG/s200/morning.png)
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.