Certainly, Russia's wheat farmers, having enjoyed a record harvest, again, this year, are seeing their prayers answered for rain to improve conditions for winter sowings . "Beneficial rains are improving the plantings perspectives in Ukraine and precipitation should hit the south of Russia later," said Agritel.
Another of those Chicago traders' adages, of which Agrimoney.com has already produced a few this week, holds that a crop, typically of corn or soybeans , viewed as likely to come in large will only increase in size as the season continues. But that isn't the case for this year's US corn crop, which the US Department of Agriculture downgraded on Wednesday by 36m bushels to 15.09bn bushels - albeit that is wasn't a huge downgrade, and the output figure is still high enough to rate as a record high.