"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Friday, February 08, 2008

Wheat trading goes crazy on low USDA stocks - Synthetics take over

Wheat price surge raises inflation fears By Chris Flood Financial Times London
A fall in US inventories of wheat - February’s USDA ending stocks were 272 million bushels vs. estimates of 274 million and January estimates of 292 million; low end estimates 237 million and high end is 292 million. which represents a 60-year low drove prices of grain sharply higher on Friday to a fresh record, intensifying fears of rising global food price inflation.

US wheat futures jumped by their daily trading limit every day this week. Prices for benchmark flour making Minneapolis , (MGEX) rose 10.7 % on the week, extending its price surge since the beginning of 2008 to 50%.

The markets opened lock limit up and stayed there the entire session.Synthetically ( ie informal contracts) the market traded up to US$21 in the March (actual close US$15.53 and US$17.50 (close US$14.24) in the May....Synthetics are the name of the game for

To cope with the raised prices MGEX Contracts Committee (CFTC) approved raising wheat contract daily price limits from 30 cents to 40 cents effective with the Feb. 12 trading session. This weekend the CFTC are being asked to raise that to 60 cents.

Kansas City and Chicago followed Minneapolis.

This is serious. record low inventories, poor crops .. see Australia and soaring demand.

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(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish