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A classic weather market

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  • 19-05-2011 12:11am
    #1
    nilhg
    Registered Users Posts: 5,145 ✭✭✭


    Over the last while the grain futures markets have been in classic weather market hopping up and down not only on actual weather events but on changes in the 10-15 day forecast, in today's Agrimoney markets page 4 out of the top 5 stories concern the weather.

    Today markets jumped sharply higher after two separate sets of analysts predicted lower harvests, up as much as 5% on the day.

    Not alone are food crops affected but your pint could also be dearer, malting barley, which is mainly a spring crop is predicted to be one of the worst affected

    Essentially many areas are either too wet or too dry, and the patterns keep repeating. Much of Western Europe, some of the US and Western Australia are too dry while the eastern corn belt of the US, much of Canada and parts of Eastern Australia are too wet.

    Incidently I saw a grain trader quoted somewhere the other day as saying that Spain is as green as Ireland this year.


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