Rabobank forecast recoveries in soybean and sugar futures, even while cutting its price forecasts for both commodities - while seeing declines ahead for corn and cotton values.
Egyptian wheat imports will rise next season, after the government streamlined its customs regulation, US officials said.
Traders are "optimistic" that a new grain inspection system will bring some clarity to the task of shipping wheat to the world's top buyer, the US Department of Agriculture's Cairo bureau said.
China's soybean imports will set a record high for a 14th consecutive season, backed by ever-growing demand for protein and vegetable oils - although South American exporters, rather than the US, will pick up the extra demand
Hedge funds turned bearish on agricultural commodities en masse, undertaking their biggest switch short in positioning on record, led by grains - in which they may ironically have boosts the chances of price gains.
Societe Generale forecast rises ahead for soybean and robusta coffee futures, even as it flagged the potential for benefiting from short bets on arabica beans, while rating a sell on cotton as one of its top bets.
Hedge funds cut their net long position in agricultural commodities for a third week, but not by enough, in grains, to fend off fears of a further selldown, with latest bearish positioning focused on sugar instead.
Soybean futures hit a two-month low, with corn prices falling too, after US officials raised their estimate for both crops to levels well above market expectations - although wheat markets escaped the worst of the sell-down
Brazil raised its hopes for both corn and soybean crops to record highs, citing factors ranging from improved seed to benign weather - although rains in the key state of Mato Grosso have caused some crop damage
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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