wheat futures went up last night, page-6

chibrown

The only reason it rallied last September was in expectation of a larger Australian wheat crop, hence the anticipation that AWB and likewise all grain traders would have a larger share each to market. It really does not matter what wheat futures are doing on the world scene as grain traders will take their cut whether the price is $200/tonne or $400/tonne.

I am here to tell you that a poor finish to the growing season, in fact a diasterous one in the west (that is WA) where I am quickly put paid to that.

As I stated before it takes a while for climatic happenings to flow through to AWB. You have to keep looking in the rear view mirror as much as you do ahead.