The global grain market can reckon upon lower prices in 2003/04 unles North America and / or Australia go through weather shocks similar to those of the passing from hand to hand season.

The global grain market can reckon upon lower prices in 2003/04 unles North America and / or Australia go through weather shocks similar to those of the passing from hand to hand season, according to early analysis. The oilseeds complication may also be weaker in places further should be anchored to near extent by healthy demand for vegetable oils.

Agriculture and Agri-Food Canada (AAFC) forecasts declines of US$30-40 by tonne in quotations for benchmark US wheats if weather patterns normalise this year.

Hence US Hard Winter Ordinary could be trading in 2003/04 at $130-150/t (fob US Gulf) down from a macerate $170-180 in ...