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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (54177)	10/12/2004 7:55:29 PM
From: Snowshoe	Read Replies (1) \| Respond to of 74559

Record Corn, Soy, Cotton Crops to Sink Prices -USDA news.yahoo.com

To: Snowshoe who wrote (54177)	10/13/2004 2:29:13 AM
From: elmatador	Respond to of 74559

In the case of soy beans there's no Nigeria to disturb operations with fake strikes. No Iraqis on the payroll to blow pipelines. No Russian mafia involved. Prices collapse.

To: Snowshoe who wrote (54177)	10/13/2004 2:30:39 AM
From: elmatador	Respond to of 74559

Oil prices balloon, then shrivel by $1.13 Global supply concerns led the brief surge to above $54 a barrel before prices dropped. <<ELMAT'S COMMENTS: The effects of the 'strike' here in Nigeria is waning. Got to find another trick else where to pump up oil prices>> By Brad Foss Associated Press Oil prices fell sharply Tuesday after briefly surpassing $54 a barrel amid nagging concerns in the market that the global supply buffer is too thin to handle a significant output disruption. Light sweet crude for November delivery sank $1.13 to $52.51 per barrel on the New York Mercantile Exchange after rising as high as $54.45 earlier in the day. Nymex oil futures settled Monday at a record $53.64 per barrel. "You can't go up every day. Eventually you have to have some kind of correction," said Tom Bentz, a trader at BNP Paribas Futures in New York. Retail gas prices, meanwhile, rose for the fourth straight week to an average of $1.99 per gallon, the Energy Department reported Tuesday. Average nationwide prices peaked at $2.06 a gallon during the week ending May 22. Even with Tuesday's decline, crude futures are up nearly 20 percent over the past month, in large part because petroleum production in the Gulf of Mexico remains hindered by hurricane damage to pipelines and production platforms. Roughly 19 million barrels of crude, or 3 percent of annual production in the region, has been lost since Hurricane Ivan passed through and daily output is 471,000 barrels below normal. Because Gulf of Mexico crude tends to have a low-sulfur content, it is particularly desirable for refiners, analysts said, making its absence all the more troubling. "We're definitely in a challenged position right now with that very valuable product off the market," John Kilduff, senior analyst at Fimat USA in New York said. The threat of a supply dislocation in Nigeria, where a nationwide strike began Monday, is another source of tension in the markets. Nigeria's oil is also low in sulfur, or sweet crude. Repeated efforts by the Organization of Petroleum Exporting Countries to lower prices by boosting output have been largely ineffective because the oil they offer the market has a high-sulfur content. Traders said there was no particular reason for the selling — other than the lack of any new information to spur fresh buying.

To: Snowshoe who wrote (54177)	10/13/2004 4:10:08 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 74559

<Nov soybeans settled 26 cents lower at $5.13 a bushel, and Jan beans were 26 cents lower at $5.21 3/4 a bushel. Dec soymeal finished $7.90 lower at $155.40 a short ton, and Dec soyoil ended 97 points lower at 19.98 cents a pound. The USDA said the 2004-05 U.S. soybean crop, which is currently being harvested, will be a staggering 3.107 billion bushels, breaking the previous record of 2.89 billion harvested in 2001. Even more burdensome, world ending stocks this marketing year are expected to be an astounding 59.25 million metric tons - by far the biggest year-end soybean inventories figure the world has ever seen, market analysts said. "We've never been above 39 million metric tons," said Patrick Hayes, > Soy oil 40c a kilogram [or near enough to a litre] = $1.60 a gallon [more or less]. Diesel fuel now retails at over $2 a gallon across the USA, even in oil-capital Houston. chron.com People will start blending it into their diesel fuel in home brew systems. Soymeal at <$155.40 a short ton> = about 8c a pound, or 17c a kilogram in real measurement. Since kilograms of beans can be converted to litres of vehicle fuel with some chemistry and hardware and I guess output would be at about 40c a kilogram [or litre, near enough], then with crude oil at $54 a barrel = 150 litres [give or take] = 40c a litre, it's obvious that even soybeans are now a cheap enough feedstock to replace diesel and petrol. There are probably better crops than soybeans for fuel production, but that's a near-enough marker. But there's still a LOT of coal, and heavy crudes, that can be used before going to crops, which are more expensive to produce. Mqurice