The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Kevin Van Trump has over 20 years of experience in the grain and livestock industry.
The crude oil market has rebounded higher the past couple of days as the problematic situation in Cyprus looks to be resolved. What many people don't realize is that Cyprus was the home of many large oil traders. "Mercuria Energy" and the "Gunvor Group," are actually two of the world’s top five energy traders, and they were incorporated in Cyprus. Their exposure to the banking sector of Cyprus had many energy traders on edge. With the so called resolution there seems to be a sigh of relief and the market has pushed higher. Producers who need to buy more "On-Farm Diesel" should look for a pull back in the next couple of weeks as your window of opportunity. As most of you know we made some very timely fuel purchases back around Thanksgiving and the market has not returned to those levels since. If your tight on supplies keep your eyes open and look to price a little more between now and mid-April.
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Van Trump Report
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