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Abares adds sorghum to list of crops seeing production downgrade

... for 2017-18, with the bureau citing competition with cotton for land. Among wine crops, Abares makes a deep cut to canola export hopes

Hedge funds, wrong-footed by grains rally, 'swallow losses'
Hedge funds' surprising spring bearish spree on grain price falls appears to have led to losses. Still, many look in the money on sugar
Canadian spring wheat in much better health than US crop
... to judge by Saskatchewan, the top growing province, which has seen "much-needed rain". But canola, durum are not faring so well
Rains boost hopes for German crops - wheat especially
Deutscher Raiffeisenverband flags the boost to crops from recent rains, although wheat has benefited more than the likes of barley and rapeseed
Ag price forecasters upbeat over soy, sugar - but not wheat
... according to a survey by FocusEconomics, which also flags an upgrade to hopes for corn futures. But forecasters lose optimism over cocoa
France to see rise in rapeseed output this year, after all
French officials forecast a rise in rapeseed output, rather than the fall expected by other commentators. Winter barley harvest will rise too
Australia lifts wheat hopes - but clamour for chickpeas curbs canola
Abares cuts hopes for Australian output of barley and canola, flagging soaring sowings of chickpeas, even at the expense of best ag practice
Commodities a top contrarian bet, says BofA Merrill Lynch
... after fund managers turn "underweight" on the sector at the fastest pace in seven years, amid waning hopes for economic growth
Palm oil futures hit 10-month low, despite fall in Malaysian stocks
Malaysia's palm oil stocks fall further than had been expected, depressed by a surge in exports. But is this demand sustainable?
Hedge funds turn net short on softs for first time in two years
... provoking ideas, notably among sugar investors, of an easing in pressure on prices. Bullish betting on livestock hits a three-year high
USDA extends round of downgrades to EU rapeseed harvest
... citing dry weather and late frosts. Still, US officials remain more upbeat than many other commentators on prospects for EU wheat output
Weather fears bolster grain markets against upgraded supply hopes
US officials, in the Wasde report, unveil a swathe of bigger-than-expected estimates for grain, soy supplies. But selling is curtailed
Brazil hikes wheat import forecast, as low prices deter farmers
... while leading to bigger-than-expected consumption. The revision, by Conab, comes amid upgrades for Brazil's corn, soybean harvests too
Crop farmers may become fishes' best friends

... assuming Nufarm, whose shares in the group hit a 7-year high, gains consent for a canola seed genetically modified to produce fish oils

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