Highlights
India announced yesterday morning it will auction government owned wheat to retard domestic prices. That news shot wheat prices higher. Perhaps somebody will remind the world that 2023 will be the fourth consecutive year that the world carryover will be smaller than the year before.
On the other hand, Russia said 94% of their winter wheat is rated good with sufficient snow cover for insultation and water.
The US will send 31 M1 Abram tanks to Ukraine and Germany agreed to ship their own and to allow the EU to send their German built Leopard tanks to Ukraine. How many? Not decided yet. This a huge escalation of the war, but, wow! Think of all the money the tank manufacturers and politicians will make on the tank deal!
Meanwhile, a new group of Russian government supervisors replaced the team responsible for controlling the manufacture of high-priority arms. Defense factory managers were publicly warned they will be criminally liable if any more violations of arms manufacturing contracts occurred.