Global grain trade is dominated by oversupply but recent price spikes show just how volatile markets are, writes Nidera trading director Stuart Shiells. The world is awash with wheat, with near-record harvests in most parts of the world in 2015 adding to the carryover from last year. Against this backdrop, you would think that continuing pressure on prices would be inevitable, but the recent, albeit limited, recovery shows just how quickly markets can react to supply speculation and shifts in demand. […]