Rain and snow bolster wheat crops across Kansas; low consumption in India and China a concern

NEW YORK: The rain and snow bolstering wheat crops across Kansas are also dousing expectations for a recovery in prices. Improving plant conditions are underscoring the outlook for ample supplies after the US government raised its estimate for world inventories to an all-time high. Money managers expanded their wagers on prices declines by two-thirds. Falling consumption in China and India is adding to surplus concerns, and prices are falling around the globe.