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Highlights, Basis, Markets & Rain Days Update 9/3/22

Highlights


On September 10, Kazakhstan will remove export restrictions on wheat and flour it set in May to lower domestic prices. Kazakhstan will produce 13.0 million mt of wheat this year, up from 11.8 million last year. The chairman of the board of Lukoil, Russia’s biggest privately held oil producer and one of the few Russian companies to criticize the invasion of Ukraine, has died after falling out of a hospital window. That is an example of why people who keep their mouth shut live longer in Russia. The same problem is becoming more prevalent in the US since the 1990’s.

 

We have had many questions the past several days concerning basis. Here is one of the most important questions:

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