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View Full Version : So Russia banned Grain exports...


royalfan5
8/5/2010, 08:23 AM
**** just got real in the commodity markets. We are going to see the market do some crazy stuff here in the near term.
captain_surly
8/5/2010, 09:59 AM
ahem......


http://www.soonerfans.com/forums/showpost.php?p=2909551&postcount=19
texaspokieokie
8/5/2010, 10:02 AM
ethanol sucks. less emissions, but fuel mileage not nearly so good.
plus all the stuff that it does to the economy.
royalfan5
8/5/2010, 10:16 AM
ahem......


http://www.soonerfans.com/forums/showpost.php?p=2909551&postcount=19
Considering that Russia was still booking nearby exports as of yesterday, it really caught a lot the trade off guard. However, there are still plentiful wheat supplies world wide, and this wheat market will get get burned down at somepoint. Also, don't look for any matieral increase in ethanol blend rate, and the continued renewal of the tax credit is in serious jeporardy. Also, Russia could come back in early really screw things up.
OklahomaTuba
8/5/2010, 11:18 AM
Think that rust things gonna be trouble?
captain_surly
8/5/2010, 01:08 PM
Considering that Russia was still booking nearby exports as of yesterday, it really caught a lot the trade off guard. However, there are still plentiful wheat supplies world wide, and this wheat market will get get burned down at somepoint. Also, don't look for any matieral increase in ethanol blend rate, and the continued renewal of the tax credit is in serious jeporardy. Also, Russia could come back in early really screw things up.

About a third of the world wide wheat carryout is in China and they won't be selling any of theirs either. Take that out of the equation and U.S wheat is going to be needed overseas. The carry is at $.10 a month so the market will have to stay elevated to induce anyone to sell wheat. I don't see it getting burned down much.

I hope you're right about ethanol, the price of meat is going to be high enough based on corn, wheat and soybean supply and demand alone.
royalfan5
8/5/2010, 01:08 PM
Think that rust things gonna be trouble?

drought is a much bigger deal if La Nina settles in.
royalfan5
8/6/2010, 12:37 PM
So far today we have limited wheat up on the overnight, and are currently locked limit down. You don't see that everyday.