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Food Commodities Trader Olam Sees Low Grain Prices Into 2017

  • Olam CEO anticipates six months of low corn and wheat prices
  • Singaporean trader says grain balance sheets are "burdensome"
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Olam International Ltd., one of the world’s largest food commodities traders, forecasts that grain prices will remain low into 2017 as oversupply and softening Chinese demand weigh on crops.

"Prices will stay low for the next six months," Olam’s chief executive officer, Sunny Verghese, said in an interview in Singapore last week. "We have very burdensome balance-sheets across the entire grain complex.”