Yesterday morning, CBOT wheat went from about 15 lower to unchanged in about ten minutes. The reason was the latest round of Russian rocket strikes on Ukraine caused the largest nuclear power plant in Europe to be completely disconnected from the power grid. The Zaporozhnya is running on 20 backup generators which have enough diesel fuel to keep them running for 15 days. Supposedly, a catastrophe of radiation exposure will occur if those generators stop before the power grid is restored or the reactors get fully shutdown. Our question: Since this nuclear power plant generates electricity, what is the problem? Obviously, we are missing something here.
The International Atomic Energy Agency (IAEA) is monitoring the situation. Two reactors at Zaporozhnya NPP are being transferred from the "hot shutdown" mode to the "cold shutdown" and the other four reactors are already in “cold shut-down mode.
All parts of South America’s crop growing areas are turning dry. Take a look below at the number of days with rain expected with temperatures in 90’s F (38 C = 100 F) with crops growing in very sandy, low organic matter soil.