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I could probably have got close to that a week or two ago was offered £170 for feed.Why so confident of £200/t for feb ‘21?
I could probably have got close to that a week or two ago was offered £170 for feed.Why so confident of £200/t for feb ‘21?
Don't have to be all that deep... nothing drilled means there isnt the usual demand for cash to pay for the crop that hasn't been drilled and will not need feeding and spraying... no rush to liquidate what is in the store into cash, its not worth owt sitting in the bank!You have deeper pockets than I...
Hats off to you sir...
I aspire to be in that position one day!!
Yes I agree on your points.Don't have to be all that deep... nothing drilled means there isnt the usual demand for cash to pay for the crop that hasn't been drilled and will not need feeding and spraying... no rush to liquidate what is in the store into cash, its not worth owt sitting in the bank!
I hope your wrong but given the crash of oil price bio fuel is unlikely to be needed but then again if the proverbial hits the fan could oil shipments be effected or could oil be restricted to bring the price up again?I believe harvest 20 wheat now has ZERO chance of making £200 a tonne.
Covid-19 is half the problem.
Russia is asserting its soft power by crashing the oil price - the permanent? destruction of US shale industry seems to be the objective, which might take 2 years.
Crashed oil price allied with broader recession / depression equals less, little or no incentive to throw taxpayer money into any sort of bio-fuel. Plus base demand will be on the floor awhile.
The $64000 question might be "Will US corn growers get the message before planting 100 million acres of the stuff, 30-40 % of which is destined for ethanol?"
Someone pls tell me i'm talking cobblers - i was mildly bullish long term a week ago...now i'm mildly bearish on prices even where they are now.
I don’t think £200/t was ever really on the cards without major production problems elsewhere in the world.I believe harvest 20 wheat now has ZERO chance of making £200 a tonne.
Covid-19 is half the problem.
Russia is asserting its soft power by crashing the oil price - the permanent? destruction of US shale industry seems to be the objective, which might take 2 years.
Crashed oil price allied with broader recession / depression equals less, little or no incentive to throw taxpayer money into any sort of bio-fuel. Plus base demand will be on the floor awhile.
The $64000 question might be "Will US corn growers get the message before planting 100 million acres of the stuff, 30-40 % of which is destined for ethanol?"
Someone pls tell me i'm talking cobblers - i was mildly bullish long term a week ago...now i'm mildly bearish on prices even where they are now.
I hope your wrong but given the crash of oil price bio fuel is unlikely to be needed but then again if the proverbial hits the fan could oil shipments be effected or could oil be restricted to bring the price up again?
I note that in the last few minutes Aramco shares have just dropped about 6% below their IPO,not what the GOSA were expecting at all.If you mean by corvid-19 then no. Vast amounts of oil move around based on the efforts of a handful of key personnel and a lot of automation / vast machines and infrastruscture.
If covid 19 got so bad as to affect this process then we are in the zombie apocalypse and it wont matter anyway.
We are not talking about the Straits of Hormuz being closed due to war and the resulting oil supply shock, rather that anyone can have all the oil they want at, probably any minute, sub $40 a barrel.
Breaking news...Saudi might be front-running Russia with steep discounts on forward oil sales ($7 below spot into USA) says Zerohedge...so that may or may not be right. Would make sense...saudi tried on its own to break shale in 14-15 but couldn't keep price low enough long enough....at that time if was Russia that needed a better oil price. But today Russia is considered the marginal producer....Moscow can cope with low oil price much better than Saudi / shale.
I believe harvest 20 wheat now has ZERO chance of making £200 a tonne.
Covid-19 is half the problem.
Russia is asserting its soft power by crashing the oil price - the permanent? destruction of US shale industry seems to be the objective, which might take 2 years.
Crashed oil price allied with broader recession / depression equals less, little or no incentive to throw taxpayer money into any sort of bio-fuel. Plus base demand will be on the floor awhile.
The $64000 question might be "Will US corn growers get the message before planting 100 million acres of the stuff, 30-40 % of which is destined for ethanol?"
Someone pls tell me i'm talking cobblers - i was mildly bullish long term a week ago...now i'm mildly bearish on prices even where they are now.
Great film"Sell, Mortimer, Sell !"
Zerohedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
Even my best wheat is suffering, this wet weather is certainly taking its toll. I'm just going to sit on everything unless I see £170.00 Rightly or wrongly
That's good cause there an' t much out there!Can’t see it happening, no one wants it.
I disagree, I know buyers who are very nervous about supply going forward.Can’t see it happening, no one wants it.