World economy talk

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USD index

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euro spike

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risk on!

European close: FTSE100 5666.13 +1.03%, DAX 6557.10 +2.15%, AEX 314.60 +1.02%, CAC40 3180.81 +1.46%, SMI 6181.81 +0.56%, FTSE MIB 13714.68 +0.96%, IBEX 35 6645.60 +0.23%

how's oil doing? hehe

http://tsikot.com/forums/politics-ec.../index136.html

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US close: DJIA 12777.09 +1.62%, SP500 1356.77 +1.65%, NASD_COMP 2908.47 +1.48%, NASD100 2584.97 +1.56%

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corn

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corn September futures

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good morning

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German 2 yr yield

German Government Bonds 2 Yr BKO Analysis - GDBR2 - Bloomberg

GDBR2:IND -0.05500
As of 02:15:00 ET on 07/16/2012.

[boybi]

Low supply in the US and panic buying by China.

good morning

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soybean meal

used in animal feed

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soybean meal

used in animal feed

[Monseratto]

Drought in America's bread basket...

A U.S. Department of Agriculture report released last week anticipates lower yields from the country's Corn Belt due to heat and drought. One-third of the crop has been graded by farmers as either "poor" or "very poor," Martell said.

Most of the U.S. corn harvest goes to make ethanol, which is added to gasoline or animal feed, Martell said. Much of the corn harvest is also exported.

It's impossible to quantify how much food prices will spike now, since the drought is still going on, said Richard Volpe, a USDA economist. Data show that for every 50 percent increase in the price of a bushel of corn, consumer food bills go up 1 percent over the course of a year, he said.

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in a previous post i mentioned the effect of the ECB cutting interest it pays on excess reserves from 0.25% to 0%

that forced money to look for other places to park

strong demand for quality euro govt bonds drove yields down to zero

http://ftalphaville.tumblr.com/post/...tem-looks-like

Reports from Brokertec’s euro govt bond platform in recent days have highlighted a “scramble for front-end paper in Austria, Belgium, France and Holland”. Demand for ultra-short French govt paper has pushed yields out to Dec 14 maturity to zero.

And in the repo markets, the fall in EONIA overnight rates has pushed repo rates, to sub zero levels in for French and German govt debt, all the way out to a year, for the first time ever. The Belgian repo curve, regarded in ‘term-territory’ (anything from a week to a year) as a benchmark liquid core repo curve (with less of the squeeziness of Germany/France) is at zero all the way out to a year.

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PM Netanyahu's Remarks Following the Terror Attack in Bulgaria

Prime Minister Benjamin Netanyahu is holding security consultations following the terror attack in Bulgaria.

The Prime Minister said: “All signs point towards Iran. Over the last few months we have seen Iran’s attempts to attack Israelis in Thailand, India, Georgia, Kenya, Cyprus and other countries. Exactly 18 years to the day after the horrendous attack on the Jewish Community Center in Argentina, deadly Iranian terrorism continues to strike at innocent people. This is a global Iranian terror onslaught and Israel will react firmly to it.”

The Prime Minister sends his condolences to the families of the victims and wishes a speedy recovery to the wounded.

[Monseratto]

Most probably they'll bomb Iran proxy Hezbollah in Lebanon in retaliation.

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rising grain prices will affect developing countries more where people spend up to 3/4 of their income on food

remember 07-08 when soaring food prices caused social and political instability in developing countries

another repeat coming

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rising grain prices affect developing countries more where people spend up to 3/4 of their income on food

remember soaring food prices in 07-08 caused social and political instability in developing countries

another repeat coming