Reuters – Flooding and excessive rains across key parts of Australia’s wheat growing areas have resulted in extensive damage to what was expected to be a record high quality crop, exacerbating concerns over world food supplies. A lower quality crop in Australia, the world’s No. 2 supplier of wheat, comes as dryness in North America
Waterlogged Australian wheat crop faces extensive quality downgrades
Around half of wheat on east coast may be downgraded, industry analysts say
Drought to cut east Australia crop output in half from 20-year average
Melbourne | Reuters – Drought is expected to cut eastern Australia’s crop production this year to less than half the average over the past 20 years, with New South Wales to be worst hit, the country’s agricultural commodities forecaster said on Friday. While some regions are facing the worst conditions in memory, the Australian Bureau
BHP Kills PotashCorp Bid, Revives Shareholder Buyback
BHP Billiton has scrapped its $39-billion bid for Canada’s PotashCorp and bowed to calls from investors to return cash, a move that came days after regulators blocked the year’s biggest takeover deal. BHP, conceding defeat for the third straight time on a major proposed merger or acquisition, signalled with its revived $4.2-billion share buyback that
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