Death comes to us all. Life's but a walking shadow | China's corn production is what, 210 MMT or so? They have 100 MMT in reserves. So even if they lose 100 MMT they'll just be tight not short. Besides we've got lots and from the looks of it we will have even more shortly.
I think what is interesting is that the Chinese government had the policy of maintaining a very substantial reserve even at a considerable cost just because China has a history of just such weather events. There has been some criticism of the government for maintaining such large reserves but now they may look really smart. This means that the government may abandon their new policy of selling down their reserves.
You follow the Dalian commodities market correct. You'll probably see evidence of how this weather event is viewed there before long? |
I Don't Want to Be Hysterical or Anything...
