FAO's latest Cereal Supply and Demand Brief forecasts a 1.4 percent drop in worldwide wheat output in 2016, due mainly to dry weather leading to reduced winter plantings in the Russian Federation and Ukraine. However, China and Pakistan are expected to sustain near-record wheat harvests, and India's output is anticipated to recover.
US markets rose on Wednesday, following the decision by the Federal Reserve to keep interest rates unchanged and a statement indicating the rate would only rise twice in 2016. The Dow Jones industrial average climbed 79.64 points to 17,331.17. The S&P 500 gained 11.68 points to 2,027.61, while the tech-focused Nasdaq index was up 35.30 at 4,763.97.
The New York Times published on Thursday an editorial in which the newspaper referred to president Barack Obama’s visit to Argentina next week and the role played by the United States in the country’s 1976-1983 civil-military dictatorship, saying the president of that country “should make a pledge that Washington will more fully reveal its role in a dark chapter of Argentine history.”
Former leader Lula da Silva was sworn in as President Dilma Rousseff's chief of staff on Thursday amid a deepening crisis in Brazil as protests against his appointment continued for a second day and a judge sought to block the move.
Brazilian share prices surged on Thursday to close 6.6% higher, a seven-year record, after fresh setbacks to populist President Dilma Rousseff raised the prospect of her being driven from power.
Argentina is willing to “make concessions” in order to move forward with a free-trade agreement between Mercosur and the European Union (EU), which will likely allow a greater export of agricultural produce, according to Argentina's Trade Secretary Miguel Braun who then reveled that trade offers will be exchanged on April 8.