Don't think what is happening in the ferrous mining sector has...

Don't think what is happening in the ferrous mining sector has any bearing on planning for food security in the world's biggest grain producing country. The Chinese would be aware of the likely fall in global grain production coming as a result of this credit crunch. Iron ore may be critical for growth but it ain't critical for survival and social order.

Can't see it going much lower but am also surprised by the ferocity of selling ... Australia is setting pretty for grain production this year. 30 mmt for wheat not that unrealistic. WA is on track for a bumper, getting pretty wet now ...