Storms crossing the U.S. Plains, the southern Midwest and the Mississippi River Delta are bringing beneficial moisture to winter wheat crops, but floods threaten a few areas, an agricultural meteorologist said on Tuesday.
CAIRO, Nov 17 Egypt's decision to slash wheat subsidies, which has infuriated farmers, threatens to cut future harvests and force the country to burn scarce dollars on more imports during a foreign currency crisis, traders and experts say.
France's weakened wheat export performance, underlined by the closure of a key silo to deliveries, prompted a downgrade to the official forecast - even as Europe's trade dynamics showed some improvement.
Russia's wheat harvest may have been high on quantity but it is scoring relatively low on quality, Black Earth Farming said, in results which illustrated some of the challenges facing farm operators in the country, and sent its shares tumbling.
Hedge funds turned bearish on agricultural commodities at the fastest pace in more than two years, encouraged by bigger-than-expected upgrades by US officials to their estimates for domestic supplies of the main grains.
The UK's wheat area is likely to be largely unchanged next year, but oilseed rape plantings are to fall by 14% to a 6-year low. , with sowings discouraged by the ongoing EU ban on neonicotinoid insecticides.
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About Glencore Grain
Glencore Grain, a subsidiary of Glencore, has been operating in Australia for more than 10 years.
Glencore Grain is one of the largest buyers of wheat, barley, oilseeds, pulses, sorghum and cotton direct from Australian growers, with accumulation offices located across five key growing states; Western Australia, South Australia, Victoria, New South Wales and Queensland. Read More