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Moderately Busy Undertone in Ag Market
CHICAGO - Dec 5/06 - SNS -- International agriculture commodity markets had a relatively buys undertone, with Syria reporting wheat sales to Italy and Egypt; while China bought soybeans from the United States.
The Australian government released its latest crop production estimates overnight, inching up its wheat production estimate to 9.74 million metric tons (MT), down from 25.09 million last year.
This season's barley harvest is fore cast at 3.67 million MT, up slightly from the previous forecast, but down sharply from the 9.87 million MT grown last year. Oats is forecast at 633,000 MT, versus 1.42 million in 2005-06; and sorghum at 2.02 million MT, virtually unchanged from last year.
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