Soybeans declined for the first time in three days on speculation rains in parts of Brazil may improve planting prospects in the world’s largest grower and exporter after drought cut the output in the U.S.
Grain-growing regions in Western Australia, the nation’s biggest wheat producer, will probably remain dry this week, threatening to curb production prospects as hot conditions harm crops from the U.S. to Europe.
Fonterra Cooperative Group Ltd., the world’s largest dairy exporter, aims to double sales in China, Theo Spierings said during his first trip as chief executive officer to the nation where a 2008 tainted milk scandal led to the collapse of its local partner.
Sugar production forecasts in Australia, the third-largest exporter, were cut by producers’ group Canegrowers and National Australia Bank Ltd. because of rain, as prices rise amid concerns about tight global supplies.
The price of rice, the staple food for half the world, may advance as wheat’s rally drives consumers to seek alternatives, according to Robert Zeigler , director general of the International Rice Research Institute.