tag:blogger.com,1999:blog-502356674750161309.post2455583672310377041..comments2009-06-30T11:15:30.070-07:00Eric deCarbonnelhttp://www.blogger.com/profile/08023745289801416061noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-502356674750161309.post-8608393931472140642009-06-30T11:15:30.070-07:002009-06-30T11:15:30.070-07:00Nothing of such kind has happened in any other agri-food market.<br /><br />ICE cotton, even had OI markedly down. But cotton&#39;s been a &quot;commodity step-child&quot; and a nightmare for years..<br /><br />Wheat appears to be in a bottoming process, and KCBT has still more room to reach an important support level at 540 compared to what&#39;s happpening on CBOT. So I think someone has calculated that this support MUST be tested, and thus the new shorts.<br /><br />I guess there&#39;s enough evidence to pin down majors intervening in the gold market on behalf of the NY Fed. And I really feel sorry for Bernie Madoff who&#39;s in deep trouble just because HIS Ponzi scheme wasn&#39;t being SUBSIDIZED by US Govt, not like the majors who are naked-shorting gold &amp; treasuries at will.<br /><br />And who are tose &#39;loonies&#39; buying up high-cap stocks every Friday afternoon? Ain&#39;t they the same guys, hahaha?<br /><br />But you really have to come up with something MUCH BETTER if you want to show wheat futures manipulation.<br /><br />There is no shortage of wheat in the world, and you shouldn&#39;t expect it this year at least.<br /><br />BUT I think you are right USDA is talking the market down. Their S/D figures don&#39;t seem to be making much sense.Paknoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-5869867967797883852009-06-30T06:02:46.786-07:002009-06-30T06:02:46.786-07:00Bad news from India:<br /> <br />India wilts as monsoon fears grow<br />By Santwana Bhattacharya <br />Asia Times online<br />http://www.atimes.com/atimes/South_Asia/KF30Df02.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-78753015103272214742009-06-30T05:46:52.599-07:002009-06-30T05:46:52.599-07:00Anonymous said... <br /><i>Although there probably is clear manipulation in wheat I would rather have manipulation than the brutal truth that may lead to world panic, economic disintergration and more people in the world going hungry. I don&#39;t think it makes sense to promote bad news about food supplies fact is there is f all we can do about it why stir a frenzy?<br /><br /></i>Here is why it makes sense: Underpricing spurs overconsumption and encourages underproduction. Now the world is facing a food shortage this year no matter how much manipulation the US does. However, by keeping prices too low, the US is encouraging everyone to consume more and discouraging farmers producing more (they will cut back on fertilizer for example). This will make the eventual food shortage far worst than it would have been otherwise.<br /><br />The best thing would be if prices rose now. Farmers spend more money to grow more because of higher prices (better seeds, more land planted, more fertilizer, etc…), and the world would start cutting back on consumption. The eventual shortage would be less severe and last less long as a result. Less people would die (one sixth of the world is starving right now, and it will grow worse).Eric deCarbonnelhttp://www.blogger.com/profile/08023745289801416061noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-14959618170674070552009-06-30T00:48:19.964-07:002009-06-30T00:48:19.964-07:00Although there probably is clear manipulation in wheat I would rather have manipulation than the brutal truth that may lead to world panic, economic disintergration and more people in the world going hungry. I don&#39;t think it makes sense to promote bad news about food supplies fact is there is f all we can do about it why stir a frenzy?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-62748376885356421512009-06-29T22:36:01.311-07:002009-06-29T22:36:01.311-07:00Reposting message because link was breaking webpage layout.<br /><br /><br /><i>Anonymous said... <br />have you seen this:<br /><br /><a href="http://www.canada.com/news/Fungus+threat+hangs+over+world+wheat+production/1728850/story.html" rel="nofollow">http://www.canada.com/news/Fungus...production/1728850/story.html</a><br /><br />80%!?<br /><br />June 29, 2009 7:09 AM <br /></i>Eric deCarbonnelhttp://www.blogger.com/profile/08023745289801416061noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-47373057813585602392009-06-29T20:09:24.133-07:002009-06-29T20:09:24.133-07:00I&#39;m beginning to think I lose no matter what I do. *sigh*Tyronehttp://www.blogger.com/profile/04226876002855072090noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-1794818783917151912009-06-29T19:52:38.976-07:002009-06-29T19:52:38.976-07:00Argentina Drought May Halt Wheat Exports for 1st Time<br />-----<br />http://www.bloomberg.com/apps/news?pid=20601086&amp;sid=acXLbbY1XcxEPaulnoreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-45627451780409057072009-06-29T09:06:41.534-07:002009-06-29T09:06:41.534-07:00@Anon<br /><br />Wow, that&#39;s a rather bizarre story. I&#39;m not specialist enough to have an opinion, but this could be major!Martijnhttp://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-502356674750161309.post-57306675838221896282009-06-29T06:49:51.686-07:002009-06-29T06:49:51.686-07:00Good post Eric, it does indeed answer somewhat to <a href="http://www.youtube.com/watch?v=ffPny9Aestg" rel="nofollow">this</a> video I posted in the previous post.<br /><br />If crops are really going to be down that much we may just be in for quite a surprise with all the cash standing on the line waiting to get back in the market when things brighten. At this moment, this cash can flow into anything and is seemingly dripping back into the general stock market, but should food supply really tighten it might change course and enter the food market.Martijnhttp://www.blogger.com/profile/10691085642452851905noreply@blogger.com