Septic Peg Speaks

31/08/12 -- Septic Peg, my spirit guide from beyond the grave, has been in touch via the medium of dream to tell me that her flatmate Rasputin says that today's much awaited Russian meeting to discuss the grain markets WILL NOT lead to the announcement of an export ban, or even any form of formal export restrictions/duties. A Reuters assertion this morning that the meeting will "herald curbs to grain exports" is, according to Razz as she calls him, a load of old ballski.

All they will do is make some wishy-washy announcement that they are on the case, monitoring the situation and ready to act accordingly, if and when necessary, and within the rules of their newly acquired WTO membership, says Razz.

What they may then do behind the scenes is introduce some form of revised documentation requirements to accompany grain exports, which will be so difficult, complicated and slow to obtain that they will allow grain only to leave the country when, and to whom (eg Egypt), they see fit the Razzmeister reckons.

If further proof of his all knowing powers are required Peg tells me that Razz insists that Zhukov, named after Georgy Zhukov, a fellow son of peasants who went on to become the most successful Russian general in World War Two, is a nailed on certainty for the 3.00 at Bangor-on Dee this afternoon.

There we have it, a hot tip, a history lesson and the inside word on how Russia will tackle their grain export problems all in one go.*

* Please note, markets can go down as well as up, always read the label, no responsibility can be accepted for vehicles and/or their contents left in this car par, horses sometimes fall.