Hi and welcome to this weeks Incitec Pivot
Fertilisers Grain Report While the world has been pointing to record
large wheat stocks for reasons to sustain low prices, the sleeping dragon of tight exporter
inventories has come home to roost. China’s share of global carryout has been on the rise
for a few years and they traditionally do not re-export. A slip-up in production from
the major exporters including Australia, Russia and the US has been enough to tighten available
supplies and get marketers and speculators alike on the bull bandwagon, with prices rallying
in excess of 30% in the last month. The Incited Pivot Fertilisers Grain Report – powered by igrain