date:Oct 13, 2012
The downgrade by US farm officials to estimates for world wheat production will not be their last, Goldman Sachs said, forecasting a 34% slump in Australian exports of the grain, and outperformance in futures prices.
Revisions on Thursday by the US Department of Agriculture, in its benchmark Wasde report, to crop estimates attracted most attention in corn, for which the estimate for year-end stocks was cut to 619m bushels, well below market expectations.
However, it is wheat futures which stan