the risk on ripfest
because the world was saved last night (EU bailout v. 9.0), big short cover rip in comms and currencies. Nice window dressing for end of month, end of quarter.
The problem seems to be in the detail- Germany reluctantly says OK but also says no mas and it isn't near enough. If you are a banker and have a client in trouble, the worst thing to do is say you'll give him half of what he needs. Or alternatively, they will cave further in the future having done so every time thus far. But they only cave when the market forces their hand so expect the market to continue to do so after some respite of somewhere between hours and a few weeks.
Anyway, grains are all weather and report today although worth noting if this weather scheme was unfolding in the middle of the '08 risk mania everything would already be in the umpteens and grainery doors would be welded shut worldwide.
Re: the risk on ripfest
I hate welding on gallivanted metal... Can I use a padlock?
I have a brand NEW one the Mycogen people sent me a few years ago, never had a reason to use it, till now?
If it stays up like this for a few more minutes and into the floor trade and the basis isn't hammered again ... 3 trailer loads are out of here next week.