Steady demand is based on higher consumption from emerging market economies worldwide. The middle east, southeast Asia and Latin America are delivering the best economic performance of the last decades. Together, they act as a positive factor that balances (and also mitigates) the prospective weakness in the US and Europe.
Wheat prices, for instance, showed a new record high last month explained by higher demand coming from the emerging world (mainly India). This will keep inventories low and the ratio stock-consumption at minimum levels. Escalating shipments have also their grounds on the increasing use of agricultural products such as corn as inputs for producing substitutes to fossil fuel (to be consumed in industrial countries).