(Bloomberg) -- Wheat futures in Chicago gained for a
second day on concern that global supply will decline as grain
output in Western Australia may fall to less than last year's
drought-hit harvest. Corn futures also climbed.
Output of grain including wheat, canola and barley in
Western Australia, a state which accounts for about a third of
the country's production, may be between 5 million and 9 million
metric tons, Michael Musgrave, operations manager at Perth-based
grain-handler CBH Group said today. The state produced 6.4
million tons last year and averages 11 million tons, he said.
Read more at Bloomberg Commodities News
second day on concern that global supply will decline as grain
output in Western Australia may fall to less than last year's
drought-hit harvest. Corn futures also climbed.
Output of grain including wheat, canola and barley in
Western Australia, a state which accounts for about a third of
the country's production, may be between 5 million and 9 million
metric tons, Michael Musgrave, operations manager at Perth-based
grain-handler CBH Group said today. The state produced 6.4
million tons last year and averages 11 million tons, he said.
Read more at Bloomberg Commodities News
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