aussie crop roundup, page-11

Wheat will be the one to watch in 2012 as demand ratchets up to world record levels. Now corn is more expensive lots of substitution going on in terms of feed usage down animals throats and in terms of plantings biase toward corn and barley away from wheat.

Playing the spreads could reward nicely on trades along the lines of short corn, long wheat (especially high protein wheats).

Sorgs we are looking good here in WA, end of season rains arrived before too much spring drought damage appeared. Some frosts about two days ago which could take the edge off. The worry now is the rains are remaining on the forecast and we are heading into the staining window up north. Always something as you well know.