Comments on: Rising Commodity Prices More Bad News for US Dollar http://www.dailyreckoning.com.au/rising-commodity-prices/2007/09/14/ An independent perspective on the Australian and global investment markets Sun, 21 Mar 2010 02:37:34 +0000 http://wordpress.org/?v=2.8 hourly 1 By: Coffee Addict http://www.dailyreckoning.com.au/rising-commodity-prices/2007/09/14/comment-page-1/#comment-3228 Coffee Addict Fri, 14 Sep 2007 04:58:58 +0000 http://www.dailyreckoning.com.au/rising-commodity-prices/2007/09/14/#comment-3228 There are still grounds to be bullish about the Australian wheat crop. Greg Canavan is overstating the risk. In other words he's wrong, although it is clearly in the interests of his clients that he talk up the wheat price. There has been reasonable rain over the past 3 months and there is, as a consequence, residual soil moisture. In addition there are a few minor fronts coming from the south. You don't have to rely on what I may say or my observation that unwatered lawns in the wheat belt are being mowed as I look out the window. Check out the Bureau of Meteorology 3 month rainfall map for Australia to the end of August 2007.http://www.bom.gov.au/cgi-bin/climate/rainmaps.cgi?page=map&variable=totals&period=3month&area=aus In a nutshell the crop may not be fantastic but it won't be a disaster either. There are still grounds to be bullish about the Australian wheat crop. Greg Canavan is overstating the risk. In other words he's wrong, although it is clearly in the interests of his clients that he talk up the wheat price.

There has been reasonable rain over the past 3 months and there is, as a consequence, residual soil moisture. In addition there are a few minor fronts coming from the south.

You don't have to rely on what I may say or my observation that unwatered lawns in the wheat belt are being mowed as I look out the window.

Check out the Bureau of Meteorology 3 month rainfall map for Australia to the end of August 2007.http://www.bom.gov.au/cgi-bin/climate/rainmaps.cgi?page=map&variable=totals&period=3month&area=aus

In a nutshell the crop may not be fantastic but it won't be a disaster either.

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