Business Services Industry
World prices at a 10-year high.
Australasian Business Intelligence, October, 2006
Byline: Peter Hemphill
Oct 18, 2006 (The Weekly Times - ABIX via COMTEX) -- World wheat prices are above $US5 a bushel for the first time since 1996. Chicago Board of Trade December 2006 futures traded at $US195/tonne on 12 October 2006. The US Department of Agriculture has reacted to a drought in Australia by reducing its estimate of the Australian wheat crop to 11 million tonnes, from a September 2006 forecast of 19.5 million tonnes. Global wheat stocks are expected to fall seven million tonnes to 119.3 million tonnes. This figure represents less than 10 weeks of supply.
Publication Date: 18 October 2006
CHICAGO BOARD OF TRADE
UNITED STATES. DEPT OF AGRICULTURE
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