Market Recap 18.12.09
The USD reacted strongly as concerns over how Greece is going to service its sovereign debt led money to flow back to a perceived 'safe haven'. USD Index closed up 75 points and the grains markets reacted as expected. Wheat, after flirting with some investment capital late in the previous session, just tanked 18.75usc/bu, corn hit double digits and beans fell 37.5 usc/bu. The strength in the USD also managed to shove the AUD sub 89, which is the great hope of the side to allow Aussie to compete on the world stage and provide a decent Aussie dollar number on the boards (well more decent than the Pacific Peso has allowed us to before). As usual, Big Aggie asked me what was happening in the markets this morning. I told her there was trouble in Greece, she said that she was "just happy that Danny and Sandy sorted it out in the end"... How do you answer that?
Date of Publication: 18 Dec 09 9:03am ACST
Source: ABB Grain
