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.
Confusion reigns. Chicago wheat dropped 3usc/bu, Kansas slid 5.5usc/bu and Minni settled 13usc/bu down. All three contracts were higher within sight of the line but found market on close selling. Matif wheat dropped EUR$2.00/mt and the Black Sea contract eased USD$1.75/mt. Corn managed to add 5.5usc/bu but beans dropped 26.75usc/bu. Meal increased USD$0.90/st but beanoil got smashed 2.47usc/lb. Matif canola dropped EUR$27.25/mt while Winnipeg dropped CAD$41.80/mt. The Dow finished down 41.12 points and the Aussie went home at 0.6924
Global Highlights If you ever need a reminder about Ag futures market structure – this is it. Getting capital into our futures contract is a relatively simple process – getting money out is a completely different proposition. It’s a slow, sometimes painful exercise. Last night saw markets rally on reports that both Bunge and Viterra’s port infrastructure in the port of Mykolaiv suffered damage after Russian rockets hit their infrastructure. Then, even after that, markets found selling on renewed talk of an export corridor being established between the Ukraine and Turkey. If we rolled back 1 month and presented the market with a port full of vegoil suffering rocket damage and bursting into flames it would have been a very different close