OT - What are you doing right now?

nolaegghead

We could as @alaskanassasin if he's ok selling his grain well below market price to keep domestic bread prices down. 

CPFC1905

Reading obituaries for Shane Warne.  Sad day for cricket.

I put a thread here : https://eggheadforum.com/discussion/1229666/shane-warne-rip-a-life-well-lived#latest 

JohnInCarolina

Ozzie_Isaac said:

nolaegghead said:

"but, if we are a net grain exporter and we make more grain than we could possibly use, aren't we self-sufficient and shouldn't we not be relying on Russian grain exports?"

Asks someone who doesn't understand global market prices.

Unfortunately, when prices spike in other markets, the grain sellers will shift their product to those higher profit margin locations.

Also, it is not just that simple because you have to factor in the cost to transport and in todays current supply chain nightmare even just the availability of transportation.  Then tariffs, taxes, etc, etc.

Global commodities markets are not that simple, and they definitely impact us whether we are net exporter or not.

You don’t say!

nolaegghead

Ozzie_Isaac said:

nolaegghead said:

"but, if we are a net grain exporter and we make more grain than we could possibly use, aren't we self-sufficient and shouldn't we not be relying on Russian grain exports?"

Asks someone who doesn't understand global market prices.

Unfortunately, when prices spike in other markets, the grain sellers will shift their product to those higher profit margin locations.

Also, it is not just that simple because you have to factor in the cost to transport and in todays current supply chain nightmare even just the availability of transportation.  Then tariffs, taxes, etc, etc.

Global commodities markets are not that simple, and they definitely impact us whether we are net exporter or not.

My point was they aren't simple, specifically targeting people who claim gas prices are high because we (the US) aren't doing as much exploration/drilling, specifically to the point that *net* production/usage ratios don't really mean much.  There's no shifting to get better prices, after the distributors meet their futures contract obligations, their product is sold on the open market, regardless of who is buying it or where it's shipped to. Supply and demand take over at that point, and the demand is global.

Whoever buys it has to figure in the shipping costs, it's not built in to the market price, at least until it hits a foreign market.

ColbyLang

Russia and Ukraine account for 31% of the global wheat market. They’ve suspended all exports. Wheat reports due out soon but planted acreage expected to be lower than previous years due to price of soybeans in the market. Flour prices are higher than they’ve ever been in my career. Get ready for $8 sliced bread in the grocery stores 

JohnInCarolina

Getting ready to throw this bad boy on:

WeberWho

A family friend just received her 12K work bonus. 

lousubcap

JohnInCarolina said:

Getting ready to throw this bad boy on:

I'm eagerly awaiting the review as I am primed to grab one from SRF.  Special occasion or "It's time?"

nolaegghead

The end of the world is as good reason as anything to blow off the diet and chow down on a huge chunk of pig fat.....delicious pig fat....

alaskanassasin

nolaegghead said:

"but, if we are a net grain exporter and we make more grain than we could possibly use, aren't we self-sufficient and shouldn't we not be relying on Russian grain exports?"

Asks someone who doesn't understand global market prices.

Do we buy wheat from Russia?

Ozzie_Isaac

ColbyLang said:

Russia and Ukraine account for 31% of the global wheat market. They’ve suspended all exports. Wheat reports due out soon but planted acreage expected to be lower than previous years due to price of soybeans in the market. Flour prices are higher than they’ve ever been in my career. Get ready for $8 sliced bread in the grocery stores 

I plan you use Wagyu steaks as the bread.

alaskanassasin

Farmers will grow more wheat until the price goes down.  You can’t just plant more oil. Uncle joe allows more drilling USA will produce more oil and price will go down. It’s really not that complicated. If Saudi Arabia goes to war fuel prices will go up no matter what the USA produces in the short term duh.

alaskanassasin

It’s supply and demand cmon don’t over think it

nolaegghead

alaskanassasin said:

nolaegghead said:

"but, if we are a net grain exporter and we make more grain than we could possibly use, aren't we self-sufficient and shouldn't we not be relying on Russian grain exports?"

Asks someone who doesn't understand global market prices.

Do we buy wheat from Russia?

No.  Most of the wheat exported from Russia goes to countries that can't grow enough wheat.

nolaegghead

alaskanassasin said:

Farmers will grow more wheat until the price goes down.  You can’t just plant more oil. Uncle joe allows more drilling USA will produce more oil and price will go down. It’s really not that complicated. If Saudi Arabia goes to war fuel prices will go up no matter what the USA produces in the short term duh.

nope.  It's not.

ColbyLang

alaskanassasin said:

Farmers will grow more wheat until the price goes down.  You can’t just plant more oil. Uncle joe allows more drilling USA will produce more oil and price will go down. It’s really not that complicated. If Saudi Arabia goes to war fuel prices will go up no matter what the USA produces in the short term duh.

Agreed. The price of soybeans will be down due to acreage planted and yield whole wheat will be high for the foreseeable future. Next year things will reverse as more wheat is planted while the price per bushel remains high for you farmers out there 

nolaegghead

We grow way more wheat than we use.  Prices are still going up because global supply just took a dump (and other reasons like bad weather for wheat growers around the world).  Just like any world-traded commodity, people are going to sell it to whoever pays the most.

alaskanassasin

Trump put tarrifs on trade with China and killed beans for about 3 years.

alaskanassasin

We are getting off topic here and probably going to get the take it somewhere else hammer but I gave you a clear example of the president effecting a world market using your own export as a example 

lousubcap

If you were playing E of W Bingo-your world just shutdown.  The Buffalo is on the hunt.  

Ozzie_Isaac

lousubcap said:

If you were playing E of W Bingo-your world just shutdown.  The Buffalo is on the hunt.  

Wow!  That is a 2022 takedown record.  It seemed like a thread everyone was getting along in too.

EzraBrooks

Wondering if this new study may finally convince the unvaccinated. Messing with smell is one thing, messing with your junk is a whole different one.

https://scitechdaily.com/covid-infects-penis-testicles-and-prostate-causes-pain-erectile-dysfunction-reduced-sperm-count/

nolaegghead

Tariffs/Duty are taxes.  Sure, they can attract retaliatory action and/or change where people buy commodities, and that can influence the market.  Yep, you are right in that regard. 

Ozzie_Isaac

Can you spot the owl?

JohnInCarolina

Ozzie_Isaac said:

lousubcap said:

If you were playing E of W Bingo-your world just shutdown.  The Buffalo is on the hunt.  

Wow!  That is a 2022 takedown record.  It seemed like a thread everyone was getting along in too.

And yet somehow the grocery thread persists.

Legume

Bread will still be the cheapest part of any decent sandwich.  I think I spend more on mustard annually than I do on bread.

nolaegghead

Legume said:

Bread will still be the cheapest part of any decent sandwich.  I think I spend more on mustard annually than I do on bread.

Right, it's a bit more impactful than salt prices skyrocketing for a crawfish boil.  People are still gonna eat it, if they cut back, maybe we'll be collectively less overweight.

HeavyG

Legume said:

Bread will still be the cheapest part of any decent sandwich.  I think I spend more on mustard annually than I do on bread.

Not surprised. I can tell by your avatar that you are fancy.

Foghorn

CPFC1905 said:

Howdy footie fans,  we’re inching towards denouement.  Last weekend’s results did little to upset the orthodoxy and - plot spoiler, I doubt this weekend’s fixtures suggest much tumult either. 

Saturday;

Leicester v Leeds, notable because the visitors hit eject on their Bielsa-ball experiment and have welcomed new manager Jesse Marsch.  He’s from the US of A and so you’ll undoubtedly  know him from school or around the village pump.  Don’t see much change in fortunes though with the hit and miss Foxes keeping all three points. 2-0

Aston Villa v Southampton, a game lacking much purpose or merit - is not what the trailers say on TV, but let’s be honest it barely registers.  Villa need a few more points across 13 games to be safe and Saints more for less are already.  One point and one goal each, 1-1.

Burnley v Chelsea, not sure who’s had the worse week.  The hosts lost momentum with a chastening defeat to keep them in the mire,  the visitors are subject to a sanction busting fire sale.  Quality prevails, 0-1

Newcastle v Brighton, the Filthy Seagulls being on a losing run should cheer me but the rise of Toon has slaked that.  Home win and clean sheet as the visitors have forgotten why there is a net hanging off the goal frame. 2-0

Norwich v Brentford, must win for both teams but I think the Canaries have the form to take this.  Ultimately it might be in vain for them but keeping the Bees in the relegation vortex will offer some hope of escape. 1-0

Wolves v Palace, despite back to back defeats the hosts are just too well drilled for Palace to break down,  we need open and expansive opposition to deploy our talents.  Wolves simply won’t oblige.  We’ll do well to draw 0-0 but I see a 0-1 as inevitable. 

Liverpool v West Ham, the Reds are in hot form and the Hammers, whilst buoyed by strong results earlier in the season, are feeling the pressure.  Big Jurgy has his eyes on the big prize again and winning this is the fillip his team and supporters need in order to believe. 2-0

Stoke v Blackpool, the Potters came a close second against Palace in a moribund, water logged FA cup match this week.  With dreams of Wembley gone it’s just mid-table respectability left on the menu.  A form reversing win is within grasp, 2-1.

Sunday;

Watford v Arsenal,  desperate times for the Hornets (Yay!) and I don’t see this as anything more than an exercise in patience for the Gunners to ease to victory.  Roy has tightened Watford’s defence but his contained style and having little in attacking talent make for a gloomy portent. 0-3

City v Utd , the Manchester derby. Maybe the heightened atmosphere will energise the Red half and force together a semblance of cohesion - probably won’t.  The big game players will step up for them but City are just better. 2-1

Monday;

Spurs v Everton, battle of the weird.  Spurs are being very Spursy at the moment.  Neither Arthur nor Martha.  Super Frank’s Toffees are all at sea as well.   Their habitual 7th place is way out of reach and so you must prepare for birds to fly backwards and beasts run from the forest.  By coincidence Spurs are 7th.  Fun fact there.  Lots of huff, puff, missed passes and anxiety. 1-0 but other results keep Everton out out the drop zone. 

In more exciting news,  lump is going on the Egg later for smash burgers tonight in parallel with a bulk cook of bacon and sausages.  Therefore, I win. 

As usual, your prognostications are perfect.  Please keep them coming on a weekly basis.  I can only hope that I'll be able to retire before this season ends based on your insider information leading to continued large sums of gambling income.

alaskanassasin

nolaegghead said:

Tariffs/Duty are taxes.  Sure, they can attract retaliatory action and/or change where people buy commodities, and that can influence the market.  Yep, you are right in that regard. 

 The whole time you have been on your pulpit beating your chest with post after post basically stating that I don't understand world markets and a sitting potus cannot effect change on word markets.

  I have provided several examples of how we are world leaders in many markets so it is conceivable that the leader of the #1 producing country could cause changes in markets.

 I have given examples of how potus has directly  effected "world markets" including grains and fuel.

 We went through this on the stock market too, Potus can effect the stock market. It hinged on every word of our previous leader.