date:Jun 04, 2014
rising American stockpiles helped cushion the impact of production losses after Brazils drought. Mercon said in a report to clients that it was pleasantly surprised that crops in areas worst hit by the dry weather are recovering.
The feeling is that the damage from the drought was overstated, and also the inventories are ample, Hernando de la Roche, a senior vice-president at INTL FCStone in Miami, said in a telephone interview. There is also less buying in the northern hemisphere during summe