SINGAPORE, Aug 22- Asian feed grain importers expect an influx of cheap feed wheat from Ukraine and France as heavy rain in Europe damages the quality of crops, leaving them fit for only animal consumption.» 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.