Friday, March 7, 2014

"Corn hits $5, wheat soars on Crimea, dryness fears"

This is pleasing.
From Agrimoney:
Corn futures regained $5 a bushel, and wheat prices jumped on both sides of the Atlantic, spurred by concerns of the Ukraine crisis driving import demand to Europe and the US, with Brazil dryness adding to buying pressure.
Corn futures for May delivery, the best-traded lot, touched $5.02 ½ a bushel in Chicago, topping $5 a bushel for the first time for a nearest-but-one contract since August last year.

Wheat for May soared 2.6% to $6.63 a bushel in Chicago, a three-month high, while in Paris jumping 3% to E212.75 a tonne, a level not seen in a nearest-but-one contract in 10 months.
The gains came amid ideas of continuing unease in Ukraine, whose southern Crimea region will on March 16 vote on joining Russia in a poll condemned in Kiev, and which has been seen as fuelling east-west tensions over the crisis.
Export worries
Although there is little evidence so far of disruption to grain export logistics in Ukraine, the third-ranked corn exporter and sixth-biggest wheat shipper, the crisis is seen as likely to prompt buyers to switch orders to other origins....MORE 
$4.275 up $0.0275.
 
And  every damn week since then, out in public, dancing naked.
So yes, it pleases.
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