It frose again in argentina. Milling wheat not feed.
wicked frost in Argentina (-6C or 21F) did not getting much wire time until the wheat markets closed. Some analysts and weather services have called the lows from -1C to -3C on Wednesday night. Those on the ground there are calling it -6C with a 3-4 hour duration. For me, it is reminiscent of the Easter frost in Kansas this year and the August 19/20, 2004 frosts in western Canada except the “what me worry, syndrome” (this line borrowed from a friend) won’t cut it this year when the world is waiting for Argentine milling wheat to be harvested . Key word is MILLING - not feed wheat. Sunflower seed prices and some pulses will also be affected. Full effects will not be known for another 30 days. It has the potential to rock the market if 3-5 MMT of wheat is destined for the feed market. Best line of the week: You can start worrying if you show up at Tim's tomorrow and there's no line-up.
wicked frost in Argentina (-6C or 21F) did not getting much wire time until the wheat markets closed. Some analysts and weather services have called the lows from -1C to -3C on Wednesday night. Those on the ground there are calling it -6C with a 3-4 hour duration. For me, it is reminiscent of the Easter frost in Kansas this year and the August 19/20, 2004 frosts in western Canada except the “what me worry, syndrome” (this line borrowed from a friend) won’t cut it this year when the world is waiting for Argentine milling wheat to be harvested . Key word is MILLING - not feed wheat. Sunflower seed prices and some pulses will also be affected. Full effects will not be known for another 30 days. It has the potential to rock the market if 3-5 MMT of wheat is destined for the feed market. Best line of the week: You can start worrying if you show up at Tim's tomorrow and there's no line-up.
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