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Austrailian drought near Castrophic for Wheat

 
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Author Austrailian drought near Castrophic for Wheat
rffrydr
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PostPosted: Mon Oct 09, 2006 9:28 am    Post subject: Austrailian drought near Castrophic for Wheat Reply with quote
http://www.theage.com.au/news/tim-colebatch/living-with-the-big-dry/2006/10/09/1160246067683.html

6 million MT for own use 10 MT harvest will have global impact.

225,000 shorts on the CBOE getting clocked everyday and the Funds are in the party 28000 contracts.
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HenryTo
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PostPosted: Wed Mar 05, 2008 9:40 am    Post subject: Reply with quote
No more drought weather this year in Australia, as La Nina comes to town (Sydney):

http://www.bloomberg.com/apps/news?pid=20601109&sid=ae6GlcvBtldY&refer=home

Quote:
Dam levels [in Sydney] rose to 64.4 percent at the end of February from 37.1 percent a year ago. Rain fall reached 439 millimeters this summer, compared with an average of 298 millimeters.

``We're not whinging about the rain,'' said Ben Fargaher, chief executive officer of the National Farmers' Federation in Canberra, Australia's capital city. ``Good living weather is not good farming weather.''
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rffrydr
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PostPosted: Sat Jan 13, 2007 12:06 pm    Post subject: Reply with quote
In the ashes lies much "smart money." Floor traders for decades on the Chicago Board have disappeared. Index Funds have become their own fundamental:

http://www.futuresmag.com/cms/futures/monthly%20issues/Issues/2006/11/Editorial/Editors%20Note/Nov06editnote
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rffrydr
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PostPosted: Tue Oct 10, 2006 5:49 pm    Post subject: Reply with quote
Record highs and the squeze is on:

http://www.ft.com/cms/s/045d7d8e-5844-11db-b70f-0000779e2340.html

Ironically this will pull off Aussie's first move to trade surplus right at peak of commodity boom. Expansion in basic materials has taken a long, long time.

Aussie has more room to the downside.
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