Very sad day in Japan. Earthquake in Japan will have repercussions for our markets.
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Here's a page with 36 pics, scrole down about 2/3's of the page to the larger pic(has thumb nails on the left margine.
http://www.msnbc.msn.com/id/42025882/ns/world_news-asiapacific
with canola down $25.00, I wonder if they lost some canola crushing capacity, one of the 36 pics shows a malt plant in ruin.
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I would imagine that the condition of the ports and the ability to take delivery will be most important. Very sad day. But it is amazing to see the difference between Japan and Haiti, at least Japan has been preparing for and has the ability to deal with such a disaster. I often wonder how Vancouver and the Coast would fare if such a disaster hit us.
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I was at the ctv news site. Read the comments. One person wondered if the tsunami would be hitting newfoundland. Another was worried about her boyfriend in Mozambique. Seriousness aside, I can not imagine living in a place which is so prone to disaster. Much of the world lives in floodplains, earthquake zones, hurricane areas, etc.
We can count our blessings of landlockedness, and nothing too extreme other than this long winter. Best wishes for Japan. If canola crashes because of their peril, who cares, It'll come back, and we are all alive and well at least.
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We will have to watch for damage to ports. Japan is a just in time importer with limited storage. They require regular ship unloads to meet their needs.
Damage to canola crushing plants, flour mills, maltsters, etc, will have to be accessed. There may be more need to provide processed product versus seed short term but again, will need to accessed.
A sad day for a very important trading partner.
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