date:Oct 13, 2012
7.8m tonnes, set to turn out 5.2m tonnes lower than the USDA is expecting.
Further downgrades will be necessary by the USDA.
This will support wheat prices both outright and relative to corn prices to limit feed demand in the face of lower availability, Mr Courvalin said, flagging the potential for futures to move sharply higher if another crop is badly hurt by weather.
This would likely shift wheat to being the leader of the grain complex, he said.
Weaker prospects
Many commentators have c