Thursday, 16 September 2010

2010 grain harvest spin

Latest figures suggest Ukraine's grain harvest will total 38.6 MMT in 2010 and exports in the current marketing year (July 2010-June 2011) will total 12.7 MMT.

Bearing in mind that this is the third time the ministry has reviewed grain figures this year and no one knows for sure how much grain they have in store once inaccurate yield assessments, storage losses, rents are paid (in grain) and “shrinkage” has all finally been taken in to account, then I would treat these figures with caution.
The head of the Ukrainian Grain Union, Volodymyr Klymenko, forecast that grain exports would total about 15 MMT. With all due respect he would say that wouldn’t he.

He did go on to say a little more informatively that “exports might include 6 MMT of wheat, 4 MMT of barley and 5 MMT of corn”. Did you spot that small innocuous word “might” in there, changes the whole statement if you spotted it.

England might win Euro 2012.