OAO Gazprom, Russia’s natural gas export monopoly, vowed to continue the construction of its South Stream pipeline to Europe, saying the European Union’s legal concerns can be clarified as the project moves ahead.
Wheat fell from a four-month high on speculation that drier weather will boost crop prospects in the Black Sea region, reducing demand for exports from the U.S., the world’s top shipper. Corn and soybeans rose.
Canadian wheat and canola grower Mike Bast spent five years building silos to store 100,000 bushels on his 2,000-acre farm in La Salle, Manitoba. It wasn’t enough. He’s already dumping grain into his neighbor’s bins.
Noble Group Ltd., the commodity supplier backed by China Investment Corp., is seeking to expand its grain and oilseeds business to take advantage of rising global food demand, Chief Executive Officer Ricardo Leiman said.
Wheat exports from India, the world’s second-biggest producer, are set to plunge as farmers hoard the crop and a rally in domestic prices turns buyers away to cheaper supplies from Russia and Ukraine. Futures climbed.