Morning weather forecast for November 8, 2021

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Reuters

Analysis-Big U.S., Brazil harvests and slowing China demand ease some crop shortage fears

Big U.S. harvests, near-perfect weather for planting in Brazil and signs of slowing purchases by top buyer China are bolstering supplies of two of the top globally traded commodities: soy and corn. The rising stocks indicate that prices for those key crops, as well as for other staples such as sugar and coffee, may have peaked after the surge sparked by the onset of the pandemic, farmers, brokers and analysts said. Lower crop prices would be good news for consumers after global food prices soared to the highest level in a decade, according to the United Nations food agency.

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