International grain prices continue to dance about with days of ups and downs, but, on balance, there has been a slight upward trend.
This is mainly driven by production uncertainty in southern hemisphere wheat plus a range of issues with maize. On balance, the overall sentiment for wheat and maize seems positive.
The most recent AHDB market report recorded a jump in US wheat futures arising from analysis data which showed accumulated US wheat exports up 27% on last year and substantial exports (39% of last year’s total volume) already done this year.
US maize saw less support and it has fallen slightly in recent days. While weather there had been problematic for harvesting both wheat and maize, the forecast is now for more favourable weather to get these jobs done, at least for the moment.
For the past few weeks, dryness had been a factor for maize planting in South America, but recent rainfall there has improved soil moisture levels somewhat.
And Argentina’s soil moisture status, while not perfect, is deemed to be much better than this time last year.
Back home, native physical market prices are generally firmer. On average, prices are up about €2/t in most positions, with nearby wheat in the €180 to €182/t range and barley around €170 to €172/t.
May wheat is around €185 to €187/t, but barley remains similar to last week at €175 to €177/t.
International grain prices continue to dance about with days of ups and downs, but, on balance, there has been a slight upward trend.
This is mainly driven by production uncertainty in southern hemisphere wheat plus a range of issues with maize. On balance, the overall sentiment for wheat and maize seems positive.
The most recent AHDB market report recorded a jump in US wheat futures arising from analysis data which showed accumulated US wheat exports up 27% on last year and substantial exports (39% of last year’s total volume) already done this year.
US maize saw less support and it has fallen slightly in recent days. While weather there had been problematic for harvesting both wheat and maize, the forecast is now for more favourable weather to get these jobs done, at least for the moment.
For the past few weeks, dryness had been a factor for maize planting in South America, but recent rainfall there has improved soil moisture levels somewhat.
And Argentina’s soil moisture status, while not perfect, is deemed to be much better than this time last year.
Back home, native physical market prices are generally firmer. On average, prices are up about €2/t in most positions, with nearby wheat in the €180 to €182/t range and barley around €170 to €172/t.
May wheat is around €185 to €187/t, but barley remains similar to last week at €175 to €177/t.
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