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World Agriculture Markets Start Slow
CHICAGO - Feb 6/06 - SNS -- International agriculture commodity markets started the week's trading on a relatively quiet note, but considerable tender business in on the schedule for the coming week, including a million metric ton (MT) wheat tender by Iraq.
Market participants anticipate a continuation of last week's bullish momentum in corn and wheat because of fundamental concerns about crop production prospects in some key producing areas and increased usage of corn to produce fuel in the United States.
Soybeans, by contrast, are set up for lower prices, but fear may be providing some support by keeping some major sellers on the sidelines.
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