Originally posted by Landdownunder
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We will have 1/2 a crop in western Canada again if it don’t rain in 2/3 of Alberta and Sask within 10 days
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Originally posted by furrowtickler View PostWe will have 1/2 a crop in western Canada again if it don’t rain in 2/3 of Alberta and Sask within 10 days
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Originally posted by VK58 View PostOr quit raining here in Manitoba and warm up, f**king drain tile won't thaw out to let the fields dry out, June the 5th, last year it was 41c this year 41f
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Another puzzling day on the markets.
In response to the missile strike on the #2 Ukrainian port for wheat and #1 for sunflower oil, and reports that it was basically destroyed. Likely full of product considering the difficulty in exporting anything currently, wheat prices were way up starting last night, and soy oil prices down ( nearby) and soybeans/ canola lackluster.
Lots of participants in the market, but it seems that those who trade headlines think that Ukraine is only an exporter of wheat, not sunflower oil and products. I still maintain that the oil is the bigger story out of Ukraine. Wheat is grown all over the world, at all times of the year. Vegetable oils, specifically sunflowers don't have that luxury.
Ukraine produces more vegetable oil than all of Canada.
Ukraine and Russia together produce the vast majority of all sunflower/oil in the world.
Sunflower oil accounting for either side of 10% of all world veg oil production.
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