Low Crop Prices Here to Stay as Traders See Gluts Persisting
- Dreyfus CEO says weather issue is needed for prices to rise
- Glencore’s Mahoney says industry needs to be more disciplined
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Agriculture traders seem resigned to the idea that low prices are here to stay.
Years of bumper grain harvests, along with low prices and diminished volatility, have made it harder for the top firms to make money buying and selling major crops like wheat, corn and soybeans. Gluts, which have pushed crop prices to near the lowest since 2009, will probably last for a while yet, executives said at the FT Commodities Global Summit in Lausanne, Switzerland.