The prices of several key grains climbed on Thursday, as the dollar sank and Russian drought parched the harvest there. The latest International Grains Council Grain Market report, released today, said that global production of wheat will fall to 651 million tons in the next year, down from 677 million tons last year. Forecasters are… Read more.
A new report from the Financial Times illustrates the complex situations that arise at the nexus of political and economic realities. As wheat prices rise – on the Comex in New York, wheat futures contracts for September delivery were up 21 cents to $6.16 per bushel – India’s government holds massive stockpiles of wheat and… Read more.
Wheat futures hit a one-month high, corn futures reached a five-week high and soybeans rose for third time, reported Bloomberg today. The primary factor affecting the price of the crops seemed to be unusually intense rainfall across the Midwest, which disrupted both planting and harvests “from Iowa through Texas.” The National Weather Service data show… Read more.