Grain Glut Growing With China Demand Falling, Rising Output
- USDA report shows bigger global corn, wheat inventories
- `We are not short of any global crop': AgriVisor analyst
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The world grain market has been awash in supplies for years now, and it’s starting to feel like there’s going to be no end to the glut after the U.S. Department of Agriculture published its latest report Tuesday.
The USDA estimated Tuesday that global corn and wheat stockpiles are going to be even bigger than analysts were predicting. Futures for both commodities pared gains after the report.