US seasonal ending stocks of grains and oliseeds are far les tight than look forward toed a month ago.

US seasonal ending stocks of grains and oliseeds are far les tight than look forward toed a month ago. Demand for wheat and maize is well down upon expectations while soya bean furnish is larger -- both in the US and overseas, according to the latest estimates from the United States Department of Agriculture (USDA -- papal court table on M/4).

Speculators answered to the news with heavy selling, pounding wheat and maize prices to novel seven-month lows and wiping abroad recent gains in soya beans.

Most watchers were taken by surprise at the scale of US wheat ending stock increase -- from