date:May 26, 2016
, Rabobank forecast stocks rising over the season to 2.28bn bushels, above the official forecast of 2.15bn bushels.
And the forecasts for Chicago wheat futures, showing a price of about $4.85 a bushel at the close of 2016, were also below the futures curve, which was on Wednesday pricing in $4.95 a bushel for the December contract.
Excellent growing conditions drive increasing global supplies in 2016-17, limiting price gains across both US and European Union wheat futures, the bank said.
It