The poor quality, as well as quantity, of the US soft red winter wheat harvest was laid bare in data showing that on some criteria, the crop rated at the lowest on data going back more than 20 years.
U.S. new-crop soybean and corn prices are expected to drop as much as $1-$2 per bushel below production costs in the coming months as near-record domestic output adds to bulging world supplies, industry officials said on Thursday.
Australia's largest wheat producing region is likely to receive ample rains during a crucial yield-setting stage, Australia's weather bureau said, potentially offsetting any damage from an intensifying El Nino weather event.
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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