World total cereal production is forecast to increase by about 7 percent in 2013 compared to last year, helping to replenish global inventories and raise expectations for more stable markets in 2013/14.
One needle to deflate prices again would be a change for cooler in the US weather outlook, whose turn hotter has been the driving force behind the rally which has driven corn prices up 4.0%, soybean prices up 3.9%, and wheat prices up 2.8%
The European Parliament, the EU Council of Ministers and the European Commission have reached an agreement on reforming the common agricultural policy (CAP) post 2013.
