11-14-2010 04:25 PM - edited 11-14-2010 04:28 PM
China threatens to raise interest rates. World turmoil! Obama's our man. Markets plunge. China buys a whole lot of corn from Argentina at cheaper prices and does not raise interest after all. Busy weekend for someone.
11-14-2010 05:58 PM - edited 11-14-2010 06:28 PM
Ag Resource was writing about it in their Sunday news cap It being reported that the the deal is for 6-8 MMT and the previuos largest sale was in 95-86 for 4MMT. I hope I'm reading this right but that's the story
11-14-2010 06:20 PM
Nothing personal but CHINA is about a lot more than corn.
2 like you buying fertilizer, you locate the cheapest.
3 every bu SA sells is one less available for someone else.
4 China should rause rates, they are out of control in growth, needs to cool things.
Argentina grows less than 8& of what we grow.
China’s annual use of corn is ~30billion in an economy of 4,900 Billions
11-14-2010 06:45 PM
Well I found it as being notworthy. Not much else to report. Maybe we hVE FOUND ANOTHER LOW TO THE MARKET. Yes everything you say about Argatina's small export program is right. Maybe China is out of control. You would be to if I was to keep buying from you and throwing more and more dollars at you. Who is out of control?? MMMMMMMMMMMMMm?
11-14-2010 07:09 PM
I dont get many market text on sundays but as I got out of work tonight I see they are expanding limits for grains in overnight trade.
11-14-2010 08:40 PM
agreed Kinsman. I saw a quote saying look at all we buy from them and it all ends up in
landfills- why do so many buy junk, junk?
60s small town had a few stores, people got along fine, now WALMART and it looks like some go each wkend to buy something to get a high, why?
Who knows, do we have a big top in commodes? Or a deep shakeout?
11-14-2010 09:00 PM - edited 11-14-2010 09:08 PM
These markets have moved differantly than the past market moves from years ago, that most remember. Most Hot markets have been summer weather markets where prices move up and then gap down after a rain event and never come back until after harvest or mostly not until after the first of the year. This Supply/demand market gapped up when most weather markets fall back and has now corrected and left the gap open, which I view as a good thing, which will probably be negated as soon as I get done writing. Anyway the job of the market is slow usage by higher prices which has not been done yet. This is yet another chance for enduseres to secure their needs for next year. The ending stocks inventory of all the grains will require more acres to be planted. Are there enough acres open acres to be planted. And what if we have another crop just like this year? Too much demand for product and too much demand for increased acres for prices to turn South here. The markets have a job to do and it hasn't been done yet. I hope I'm not wrong, only time will tell.
11-14-2010 10:54 PM
It looks like China is considering Argentine corn, but not buying it yet. In fact, the story says Argentina and China have failed to come to an agreement on sanitary standards which would allow corn exports to China, but the two countries are working on that
Here's the link to the full story: http://tinyurl.com/29p75l8