CHICAGO— Grain futures were lower Friday in early trading on the Chicago Board of Trade. Wheat for March delivery was 7.5 cents lower at $4.80 a bushel; March corn was off 3.75 cents to $3.69 a bushel; March oats were 2.25 cents lower at $2.3450 a bushel; while January soybeans lost 2.25 cents to 8.73 a bushel. February live cattle was. 60 cent higher at $1.3372 a pound;...» 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.