Overnight recap before the MATIF open:
-Argentine strike at grain ports has blocked 57 vessels. Workers announced the end of strike. Another strike is due on March 19th.
-Argentine strike at grain ports has blocked 57 vessels. Workers announced the end of strike. Another strike is due on March 19th.
-The Algerian Agriculture Minister said Algeria will have “a
good to very good year” on the back of “significant” snow and rain, Bloomberg
reported. This should be bearish for
French wheat even though Morocco announced it would import 1 to 1.1 million
tons of Soft wheat by the end of May. Government suspended the import duties.
- COFCO, the state-owned grains trading company, said Chinese rapeseed output for
2011/2012 should be 13/14 million tons. A Reuters article reminds that German
analyst Oil World previously predicted output to be 11.6 million in 2011/12.