
Commodity Outlook for Wheat by Kedia Commodity Wheat yesterday traded with the negative node and settled -0.34% down at 1126.2 as speculators reduced their positions due to sluggish demand from the flour mills. The International Grains Council, an industry group said in a report that global wheat sowings could increase to nearly 225 million hectares in the 2012-13 marketing season beginning in October, the highest since the 1981-82 season. The IGC estimates are 1.5% higher, or nearly 4 million hectares more than the wheat sowed in the previous season, as producers around the world increased plantings of the grain to take advantage of...