| Wheat prices dip after US foresees huge world crop | |
| Wheat prices extended losses after US farm officials lifted the bar on estimates for this year’s world harvest of the grain, and cautioned over heightened competition among exporters to secure orders.
The US Department of Agriculture, in its first forecasts for 2013-14 season, pegged the world wheat harvest at a record 701.10m tonnes, lifted by a ... | |
Mounting concerns over dryness raised doubts over a forecast by US officials that Ukraine’s wheat harvest will rebound by 40% this year, underpinning 69% growth in exports.
The US Department of Agriculture’s Kiev bureau forecast that the Ukraine wheat harvest will hit 22.6m tonnes this year, up from 15.8m tonnes last year, and making it the third highest out of the last 20 years.
“Winter wheat plantings were almost unaffected by winterkill and thus overall wheat ...
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Hedge funds returned to taking a more negative stance on agricultural commodities, largely through increasing bets...
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