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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: russwinter who started this subject4/25/2004 11:29:59 AM
From: russwinter   of 110194
 
April 19 – PRNewswire: “Trucking fleets may face a budget-busting surprise in the next few weeks. High gasoline prices have received attention as we approach the summer drive season, but wholesale diesel prices are also soaring and those advances have yet to be passed down to the pump. According to Ben Brockwell, senior analyst at Oil Price Information Service, distillate demand has been phenomenal at a time when it should be waning. ‘We’re coming off of a winter of record consumption. Part of the problem stems from sky-high natural gas prices,' Brockwell added. ‘It was more economical for utilities to switch to diesel and that put a giant dent in distillate inventories.’ The start of the planting season has put even more stress on supply. California and Midwest diesel inventories are at alarming levels. This month, wholesale prices at the Group 3 spot market increased 21% from $0.94/gal to $1.14/gal, and Los Angeles wholesale prices are up 50% to $1.50/gal.”

April 19– Bloomberg (Rob Delaney): “China’s prices for rice, corn, wheat and other staple grains rose 30 percent in March from a year earlier, pushing overall food prices up by 7.9 percent, the government said. China’s edible oil prices rose 26 percent last month while meat prices rose 15 percent and eggs rose 19 percent, the National Bureau of Statistics said… Grain production in China has fallen four consecutive years to a 15-year low of about 431 million metric tons in 2003…”
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