World: Analysts expect 2013/14 crop year to bring back “normality”

All official and private analysts seem to agree that the crop year 2013/14 will bring back "normality", i.e. much lower and stable price levels.

Most markets in Europe, Australia and Mercosur have indeed declined moderately from last month, old crop dependent on remaining stocks and open demand, while the inverse of new crop prices has become smaller.

U.S. markets, however, particularly corn and soybeans closed the month stronger, old crop stocks were extremely tight, and new crop prices reflected the concern for the uncertain outcome of this year´s production.