Grain markets tumble on global uncertainties

摘要

It seems 2011 has only just started but it's already been a rollercoaster ride. Little over a month ago world importers were clamouring for coverage on fears of possible grain shortages amid tight world supplies. But the double whammy of concerns thatworld crude oil supplies could be jeopardised if Middle Eastern violence extended into Saudi Arabia and the massive earthquake/tsunami that devastated Japan have seen world wheat markets fall by more than a quarter in a matter of weeks. Only a short time ago a number of Middle Eastern and North African wheat buyers entered the market as aggressive buyers snapping up millions of tonnes in a matter of weeks. It was a similar story with Asian feed buyers as they secured large quantities of US corn and Australian feed wheat to avoid possible shortages.