"American corn and soybean farmers are suffering from too much rain, while Australian wheat farmers have been plagued by drought.
“The planting has gotten off to a poor start,” said Bill Nelson, a grains analyst. “The anxiety level is increasing.”
As a result (of droughts in Australia), the harvest is likely to be below average: 5 million to 15 million tons of wheat available for export, compared with 17 million or 18 million tons in an average year.
China also faces trouble: the agriculture ministry issued an urgent notice to wheat and rice farmers in southern China on Sunday, telling them to harvest as much of their crop as possible immediately in the face of unseasonable torrential rains expected to rake the region for the next 10 days." (Thanks Leila)