Market Recap 31.12.09
Wheat drifted higher on fumes and suffered a blip when some desk jockey fat fingered his sales orders and sold 8000 contracts instead of 800... oops. Look on the bright side, fella, next year can only get better. Egypt is in for anther 120K, half of which they have specified as North American. Russia bought another 125K at intervention, which is a tiny fraction of their total intervention stocks and when (if) those guys start to sell it, watch out... Markets drifting aimlessly, waiting for the strains of Auld Lang Syne. So we close off a year that has seen wheat hit some decent highs, some interesting weather stories and a USD stuttering down to the doldrums... To both of you who read this, have a great evening, and a safe, peaceful and prosperous New Year.
Date of Publication: 31 Dec 09 10:11am ACST
Source: ABB Grain
