SINGAPORE/ PARIS, March 3- Chicago wheat traded little changed on Tuesday after posting its biggest daily loss in more than two months in the last session, pressured by a lack of demand for U.S. supplies as the dollar strengthens. "The concerns about frost damage in the U.S., which had driven up the price at the end of last week, appear to be dissipating again," Commerzbank...» Read More
With drought threatening food production in the EU, US and China analysts at Renaissance Capital believe the next 8-10 weeks will be crucial to prices in 2011 and 2012.
Glencore made a speculative bet on rising wheat and corn prices in the early stages of last summer’s Russian drought, when senior traders at the Swiss-based company publicly urged Russia to impose a grain export ban. The FT reports.
Grain prices are going to take almost two years to rebuild, so there's going to be a period of elevated costs, said Farha Aslam, food analyst at Stephens.
If you're looking for action, try grains, but even that may be iffy. It all depends on the weather.