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Markets Busy, Weather Woes Mount
CHICAGO - Aug 1/07 - SNS -- International agriculture commodity markets were relatively busy at mid-week, with fresh business reported to Egypt and South Korea and a new wheat import tender announced for Iraq.
Even so, market attention is clearly focussed on the developing weather story in Europe and North America. While concerns about wet weather in France have eased, the same is not true of Germany, with markets worrying about quality and yield losses.
Of greater concern is the impact the recent, unusually hot weather is having on yields for all crops. Processors in parts of Saskatchewan reacted with anger over provincial government forecasts the province would experience near normal yields. They argue yield losses have been substantial across a wide range of crops.
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