More Grains News

From Farm Futures Magazine:

The World Food Bank indicates that 33 countries face social unrest due to tightening global food supplies, according to Bloomberg. Both rice and wheat stocks are at their lowest levels in decades, with some major sources of these commodities limiting exports to protect their domestic supplies. This hardly sounds like a scenario of declining commodity prices until global stocks are rebuilt. Rebuilding stocks requires favorable weather and sufficient investment in the commodities to provide an economic incentive to boost production; in other words, high prices.

The CME has also begun the new process of determining settlement prices. This explains why today's settlement price is below the lowest trading price on May 08 wheat today.

Here is more about rice and other grain prices:

Rice Races to Record High