Wheat scare unwarranted as stocks remain huge

- "Global wheat prices have rallied on weather-related supply concerns. We view the recent price surge as overdone, however, as the global wheat market remains well-supplied. The risk of a new global food crisis is small in our view."
- "Things to look out for include: further trade restrictions, contagion to other soft commodities and speculative flows."
- "On the whole, we look for Matif prices to retreat to EUR175 per ton before year end and see current levels as attractive for producers to lock in wheat prices."

DenDanske Commodities 20100812

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