date:Oct 10, 2012
Wheat futures rose for the second straight day on speculation that the U.S. will lower its forecasts for global supplies as dry weather damages crops from Russia to Australia. Soybeans declined.
Global wheat supplies before next years Northern Hemisphere harvest may be 172.77 million metric tons, down 2.2 percent from the U.S. Department of Agricultures estimate in September, according to analysts in a Bloomberg survey. Today, Russia cut its forecast for grain exports, and Australia last month