Lachstock | Daily Report on Grains
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Lachstock Consulting was founded in 2007 in Australia and specialized in the grain market. Using accurate research & market analysis, they produce grain market reports that aim to reduce your costs and increase profitability.
Chicago wheat fell 37.5usc/bu, Kansas dropped 33.75usc/bu and Minni eased 26usc/bu Matif wheat fell EUR$11.50/mt and the Black Sea fell USD$7.75/mt. Corn got belted 35.5usc/bu and soybeans followed suit, dropping 57.25usc/bu. Meal dropped USD$12.30/st while beanoil settled 3.72usc/lb. Matif Canola dropped EUR$33.75/mt and Winnipeg was belted CAD$67.35/mt. The Dow managed to scratch out another up day, finishing 194 points higher while the AUD went home largely unchanged at 0.6900
Global Highlights
More of the same. The reason for the removal of nearly all the war risk premium built into Ag markets is almost unimportant. Once the charts sustain enough damage the move becomes cause and effect. A self fulfilling prophecy. There are reasons, don’t get me wrong. Year 10 economics tells you to buy commods when rates are low and dump them when this reverses. Global inflation has all countries extremely focused on food inflation and everything that can provide relief is back on the table, including bio-fuel mandates. Chinese macro health has long been a barometer for fair value in Agricultural markets – and with lock downs set to continue into the October elections, things look sluggish at best. However, there are also reasons the move has over shot.
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