Business Services Industry
Volatile grain markets foreshadow supply worries.
Australasian Business Intelligence, June, 2007
Jun 21, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Factors such as strong international demand for US wheat and an uncertain US harvest outlook has prompted a rise in grain futures. Wheat futures rose by almost two per cent in trading on the Chicago Board of Trade on 21 June 2007, with wheat futures for July peaking at $US6.18 per bushel. Heavy rains in US wheat-growing regions has impacted on the harvest, while countries such as South Korea, Iraq and Taiwan are actively purchasing US wheat. Meanwhile, the global supply of wheat will be significantly bolstered by a sharp rise in Australia's wheat crop for 2007-08.
Publication Date: 22 June 2007
CHICAGO BOARD OF TRADE
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