| US farmers upped their gamble that rains will refresh winter wheat, catching up on seedings, even as lingering dryness slowed crop development and worsened the condition of seedlings in the top growing state.Growers sowed 10% of their winter wheat last week, putting themselves, at 81% completion, narrowly ahead of the average for the time of year, despite a slow start, US Department of Agriculture showed.
However, crop emergence, at 49%, remained behind ... | |
| Expectations of hefty UK wheat imports, potentially even from the US, firmed as farm officials confirmed the dismal domestic harvest, pegging yields at the lowest in 20 years, hurt by pressures from “high levels of disease”.
The poor quantity, and quality, of the UK wheat crop, coupled with demand spurred by the opening of bioethanol capacity, could see imports “rise as far as 2.5m tonnes, or higher”, Jonathan Lane, trading manager at merchant Gleadell ... |
| World wheat production could see a “significant increase” in 2013 assuming the benign weather blessing sowings of winter crop in many major production areas continues, the United Nations said.The UN’s Food Agency, the Food and Agriculture Organization, acknowledged some pockets of concern over residual drought in some northern hemisphere areas currently in their autumn sowing periods.In the south east of the European Union, “hot, dry weather has reduced soil moisture, and ... | |
| Goldman Sachs raised its target for wheat prices above $10 a bushel, thanks to a tumble in US inventories to multi-year lows, and forecast recoveries in corn and soybeans to record highs.The investment bank lifted its forecast for Chicago wheat prices, on a three-month horizon, to $10.25 a bushel, after US Department of Agriculture data on Friday showed US inventories of the grain far lower than the market had expected.Indeed, the ... | |
Hedge funds returned to taking a more negative stance on agricultural commodities, largely through increasing bets...
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