Oil Slick Stuff

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Exports of Corn only account for about 15% of US production- but they continue to be in good shape:

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There is a good article here: http://www.ers.usda.gov/Briefing/corn/trade.htm#US that talks about the history of Corn exports, and where the demand is now. No longer exporting a great deal to the former Soviet Union countries- instead we are exporting to Asia. Countries like Hungary, which used to sell to Russia, are now selling into the EU, and therefore we're not selling as much into the EU as we used to. That is offset by major increases in US sales to places like Korea and Japan, where we sell corn for beef production.
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01/25/2010 - Updated 6:20 AM ET
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Oil futures edge higher after falling 5% last week
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures rose marginally on Monday after falling 5% last week, as data pointing to weak demand and China's intention to cool down its economic growth continued to limit gains in the energy market.
Crude oil for March delivery added 19 cents, or 0.3%, to $74.73 a barrel in electronic trading on Globex.
http://markets.usatoday.com/custom/...S&guid={70E90D55-0EE7-4BDD-A6ED-062220314142}
 
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phil said:
And....can I sell you a ton of ammonia for $1000?
From your post:
Historically, a ton of ammonia equaled the cost of about eighty bushels of wheat, that is, $2.25 for a wheat bushel against $200 for a ton of ammonia. This ratio held for forty years. Two years ago that long standing relationship broke down. Today wheat is $4.50 and ammonia is $1,000 – over two hundred bushels of wheat are required to purchase a ton of ammonia.


http://www.purchasing.com/article/231263-Ammonia_prices_climb_back_up.php


The most recent Purchasingdata.com survey shows buyers paid on average about $261/net ton for ammonia in March, up 24% from the $210 they paid in February. Indications are that prices in April will rise even further.
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Phil, you're absolutely right about current ammonia fertilizer prices-it only takes 60 bushels of wheat to buy a ton of ammonia right now. Maybe the reason for that is that natural gas prices are so cheap right now. Ammonia fertilizer is a spin off product from natural gas and/or petroleum products. If natural gas producers shut down production due to cost vs. profit, and crude storage begins to empty out again, ammonia prices will skyrocket again and wheat will get the short end of the stick again-how many times can that game get played before the problem sticks around for more than a year and carryover effects on crop production show up? Once gas/oil producers and/or refineries shut down, it takes quite awhile to gear back up again.
 
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alevin said:
Phil, you're absolutely right about current ammonia fertilizer prices-it only takes 60 bushels of wheat to buy a ton of ammonia right now. Maybe the reason for that is that natural gas prices are so cheap right now. Ammonia fertilizer is a spin off product from natural gas and/or petroleum products. If natural gas producers shut down production due to cost vs. profit, and crude storage begins to empty out again, ammonia prices will skyrocket again and wheat will get the short end of the stick again-how many times can that game get played before the problem sticks around for more than a year and carryover effects on crop production show up? Once gas/oil producers and/or refineries shut down, it takes quite awhile to gear back up again.
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America doesn't make Ammonia for fertilizer any more in the quantities it used to. Now a great deal of American farmer Ammonia (more than 50%) is imported from the Black Sea ports of Russia, Ukraine, Canada, and from the Carribbean nations of Trinidad and Tobago.

More than 25 American Ammonia plants have gone out of business in the last few years- cheap foreign imports did them in. Now we're dependent on Foreign Ammonia fertilizer for our crops.

Same old story with everything- http://www.ers.usda.gov/publications/WRS0702/wrs0702.pdf

 
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01/26/2010 - Updated 7:04 AM ET
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Oil futures fall on expected rise in supplies, China worries American Petroleum Institute due to report data on U.S. petroleum inventories
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By Polya Lesova, MarketWatch

FRANKFURT (MarketWatch) -- Oil futures dropped 1% on Tuesday, as expectations of a rise in U.S. crude inventories and concerns over China's attempt to slow down its growth prompted traders to sell crude.
Crude oil for March delivery fell 80 cents, or 1%, to $74.46 a barrel in electronic trading on Globex. Earlier, the contract hit an intraday low of $74.14 a barrel.
http://markets.usatoday.com/custom/...S&guid={07B3C4DE-0957-4E6C-9162-D38B5ECC4CC9}
 
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Clueless about oil prices

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By Steve Hargreaves, staff writerJanuary 26, 2010: 8:14 AM ET

NEW YORK (CNNMoney.com) -- Two very different views on where oil prices are going by the year's end are emerging - one says $60 or lower, the other $100 or higher, and there's little consensus as to which is right.
The bulls say stronger global economic growth and low interest rates will lead to higher demand, pushing prices up from their current level of around $75 a barrel.
http://money.cnn.com/2010/01/26/news/economy/oil_prices/index.htm
 
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01/26/2010 - Updated 1:24 PM ET
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Oil slumps on expected rise in supplies, China worries American Petroleum Institute due to report data on U.S. petroleum inventories
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Oil futures fell on Tuesday, pressured by concerns that China's attempt to slow its growth will curb demand and expectations that U.S. crude-oil supplies are rising.
Futures came off earlier lows after a report showed U.S. consumer confidence jumped in January.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7B07B3C4DE%2D0957%2D4E6C%2D9162%2DD38B5ECC4CC9%7D
 
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My Internet Service has been down all morning, just came back up!!!
Sorry:notrust:
 
01/27/2010 - Updated 11:12 AM ET
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Oil futures reverse and turn lower as dollar rises, stocks fallEIA reports bigger draw on crude-oil stocks but gains in gasoline and distillates
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By Polya Lesova, MarketWatch

SAN FRANCISCO (MarketWatch) -- Oil futures reversed and turned lower Wednesday, dragged down by a rise in the U.S. dollar and a drop in U.S. equities, and they held to losses after the U.S. government reported a rise in oil-product supplies.
Crude oil for March delivery was last down 22 cents, or 0.3%, to $74.49 a barrel. Natural gas, heating oil and gasoline futures also fell.
http://markets.usatoday.com/custom/...S&guid={B71FE6EC-4E73-4CF0-8C64-9D3B08D06ACA}
 
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Gahhh. Depending on the China Stimulus to push the world out of the Recession is in the same boat as China telling the U.S. to help their consumers buy more. That boat is riding the crests of a storm and leaks to boot. China, US, fix your boats for us!:toung: Sorry, it doesn't happen that way, we are both too busy trying to apply the duct tape, and the boats aren't big enough for everyone to jump in.
 
By Geirge I think you're right SB!! We support them by buying all of our stuff from them (who did that?) If it's not available we have to get it somewhere else or MAKE IT OURSELF!:cool:
 
Some funny stuff...

Gas this morning had shot up overnight from $2.23 to $2.39...by the end of today it has fallen (not much) to $2.35....I must of missed something..hasn't the price of oil been dropping?....What the hell!!!!!:blink:...And don't blame it on the recent port accident..because Norm has been posting reports all along of surplus gas in storage..:suspicious:

They must be paying the sign changers good money..:laugh:
 
Yes. It doesn't necessarily have to be that way either. I think it should be considered a strategic material. Years ago, we dominated the market, after using Haber's process. We stole it fair and square. For using renewable energy, the cost of ammonia would have to reach $1100 per ton, or thereabouts. It's still doable. Just requires a shift in economics.

http://en.wikipedia.org/wiki/Haber_process
3–5% of world natural gas production is consumed in the Haber process (~1–2% of the world's annual energy supply).That fertilizer is responsible for sustaining one-third of the Earth's population, as well as various deleterious environmental consequences.
James48843 said:
America doesn't make Ammonia for fertilizer any more in the quantities it used to. Now a great deal of American farmer Ammonia (more than 50%) is imported from the Black Sea ports of Russia, Ukraine, Canada, and from the Carribbean nations of Trinidad and Tobago.

http://www.ers.usda.gov/publications/WRS0702/wrs0702.pdf
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01/28/2010 - Updated 10:29 AM ET
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Crude futures come off highs amid clouds over Wall Street
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures were off earlier highs in energy trading Thursday, as gains on Wall Street faded after some mixed U.S. economic reports and as concerns over energy demand persisted.
Crude for March delivery gained 2 cents, or 0.6%, to $73.67 a barrel in electronic trading on Globex. Earlier, the contract hit an intraday high of $74.49 a barrel.
http://markets.usatoday.com/custom/...S&guid={B8962573-75AD-4FD0-A874-B99FECCA4084}
 
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01/28/2010 - Updated 3:36 PM ET
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Crude futures drop amid clouds over Wall Street
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures finished slightly lower on Thursday, as stocks on Wall Street fell after weak tech earnings and mixed U.S. economic reports rekindled concerns over energy demand.
Crude oil for March delivery finished down 3 cents at $73.64 a barrel at the New York Mercantile Exchange. Earlier, the contract hit an intraday high of $74.49 a barrel.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BB8962573%2D75AD%2D4FD0%2DA874%2DB99FECCA4084%7D
 
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nnuut said:
01/28/2010 - Updated 3:36 PM ET
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Crude futures drop amid clouds over Wall Street
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By Polya Lesova, MarketWatch & Nick Godt, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil futures finished slightly lower on Thursday, as stocks on Wall Street fell after weak tech earnings and mixed U.S. economic reports rekindled concerns over energy demand.
Crude oil for March delivery finished down 3 cents at $73.64 a barrel at the New York Mercantile Exchange. Earlier, the contract hit an intraday high of $74.49 a barrel.
http://markets.usatoday.com/custom/usatoday-com/html-story.asp?markets=COMMODITIES&guid=%7BB8962573%2D75AD%2D4FD0%2DA874%2DB99FECCA4084%7D
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What are ya drinking tonight bro?...this is the second time you posted this...:laugh::D
 
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