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Grain Markets Errol?
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Central bankers continue to live in the Land-of-Oz . . . Economies are in stall mode. China stock market now at a 5-year low.
A steady dose of reality is about to hit bankers as consumers completely tapped out.
And a U.S. stock market rally fueled by greed. Commodities have sent a stern warning that hasn’t even been quoted in the equity world. Errol’s Commodity Wire on substack.com
Oil Selloff Continues: WTI oil now threatening to break $70 per barrel on record U.S. oil production. Alberta WCS oil now approaching $49 per barrel. OPEC feeling-the-heat. Trend remains down.
Key support for WTI appears technically near $63.50 per barrel on continued selldown. This suggests WCS may slide into a $40 to $45 per barrel range. Fuel prices appear heading lower (IMO) . . . .
YEs. We have a 1000 gallon and 4000 gallon that we can use for winter fuel.
We fill the 4000 gallon tank from the 750 BBL tank inorder to be able to track our use. Really hard to understand what is left in the tank otherwise.
We bought 60000 L last spring and had fuel left over. on 5800 acres. With a larger crop we would likely need a bit more fuel but interesting to know the L/acre of our farm. A little over $10/acre.
Our first year we filled at 50 cents/L. Been a guessing game ever since but seems like we save about $3000 per year on delivery costs on 60000 L.
Was quoted $1.34 this morning delivered, thought that was too high.
Rack pricing today is about $1.05 for superbee loads plus 5-6 cents for delivery. So i would say 1.34 is extremely high. But the spread isnt normally that great. usually 6-8 cents/L
Rack pricing today is about $1.05 for superbee loads plus 5-6 cents for delivery. So i would say 1.34 is extremely high. But the spread isnt normally that great. usually 6-8 cents/L
Where do you find the Rack pricing and where is the FOB?
Root of this price weakness is fallout in China's financial / banking system. China's debt crisis imploding as real estate / building collapses.
Expect Alberta WCS oil to break below $45 per barrel shortly. Will try to place alerts out on my info service as market events unfold. errolanderson@substack.com
investors last Friday were sold a bag of bs as great job numbers from returning strike workers would motivate the FED to not only hold rates for longer but possibly raise them.
The market got ahead of itself by expecting the fed to cut.
China is in serious financial trouble. Created a false economy.
Over a 100 million condo vacancies, every private developer has declared bankruptcy.
4 trillion dollars lost in the real estate market which makes up 30% of China's GDP.
Youth unemployment somewhere between 20-40% in fact China stopped reporting it as it's gotten so bad.
Haven't been hearing very much from the Agrivller's yapping about BRICS lately, wonder why.
For their sake I hope they didn't put their money where their mouths were, as investing in countries ruled by Totalitarian governments is a taboo and is covered in Economics 101.
For their sake I hope they didn't put their money where their mouths were, as investing in countries ruled by Totalitarian governments is a taboo and is covered in Economics 101.
That is exactly what the investment world has been telling us. There is a reason why the Canadian government had to use tax dollars to build a pipeline, and to lure EV battery plants.
Investment wants nothing to do with a country which jails opposition, locks bank accounts, controls the media, locks down its citizens and restricts their rights based on class, weaponizes the police, etc.
Investment wants nothing to do with a country which jails opposition, locks bank accounts, controls the media, locks down its citizens and restricts their rights based on class, weaponizes the police, etc.
Yet when it came to Putin's unjustified invasion of Ukraine, you never once posted anything condemning the obvious that this what Putin's dictatorship is all about.
If investment doesn't want to put their money in the hands of commie's where was your opposition to Putin, seeing that your a Libertarian and Capitalist.
Putin was invading Ukraine which is a democratically elected country open for business with unbelievable economic potential. Agriculture, resources, culture, education, etc etc. which all relates back to investment.
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