http://www.bloomberg.com/news/2012-05-03/soy-traders-most-bullish-since-march-as-drought-cut-crops.html
USA soybean traders are clicking their heels...over a drought in South America that has withered-up supplies...and is driving-up prices for oilseeds.
This week...soybean futures hit $15.125...the highest since 2008...thanks to heat and poor rains in South America.
Brasil also is reportedly running low on stored seeds.
Traders predict China will be forced to buy soybeans...at high prices from the USA...after Brasil, Argentina and Paraguay report crop declines of 14%.
Some even predict prices will hit the 2008 high...$16.36.
Commodities traders are always their happiest...when 'beans are in the teens'.
Popular Posts
- POLAND: Warsaw Lauds LOT Pilot Wrona For Safe Crash Landing.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- HONDURAS : 4 Nov. UPDATE: 176 Police Arrested For Corruption; Lobo Sacks His Top Cops...Sends Troops Into Sula, Tegucigalpa.
- COLOMBIA: Corrupt Police Aided Bogota's Fake Torture Brothel.
- PERU: Chaos Reigns In Lima's Streets With Unregulated Taxis And Ancient Buses.
- CHILE / CANADA : Court Suspends Barrick Gold Pascua Lama Mine Production.
- SERBIA / KOSOVO / EU : President Nikolic Talks Tough About Pristina.
- ITALY / EUROZONE : New Greek Crisis Delays Berlusconi's Love Songs CD Release.
- MEXICO : Zetas Founder/ Leader "Lucky" Hernandez Lechuga Captured In Veracruz.
- USA : 07 May UPDATE: Famous Fat Cat Meow...Dies On Diet.