There are finally some signs of life in the wheat market.
Prices surged last week by the most in 15 months after the U.S. Department of Agriculture unexpectedly cut its forecast of global inventories. That was fortuitous for some speculators. A day before the Oct. 12 USDA report, funds cut their record bets that prices would drop.
Russia is storing a record amount of wheat because the world's biggest exporter can't ship out its bumper crop fast enough.
Unusually dry weather, which marked much of the European Union and northern Russia, and got the rapeseed crop off to a poor start, appears to be easing - just in time to help autumn-sown grains.
The Canadian government raised its forecasts for dry beans and chickpea prices, as the Indian government steps in to control soaring prices there.
Prices for a food staple of vegetarians across the globe are plunging from record highs in April after Canada, the world's top exporter, began its largest harvest ever and output rose in the U.S. and India, the biggest consumer. Supplies are increasing for other so-called pulse crops, including chickpeas and dried beans, signaling discounts from costs that had skyrocketed.
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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