Updated supply and demand forecasts from FranceAgrimeter show reduced cereal stocks – with barley now at a nine-year low. This has pushed on futures slightly, with the revision due to an increased forecast for exports from the country to non-EU destinations.
On the other side of the Atlantic, markets are reacting to the weather and its impact on cropping prospects, with this year’s US planting intentions now known. Planting progress of the US maize crop and condition ratings for winter wheat are currently under the microscope. According to the USDA’s latest report, maize plantings are back on last year and the five-year average. On 16 April, 6% of the crop had been planted, compared with 12% last year and an average of 9% from 2012 to 2016.
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Reports are that progress has been affected by wet weather across the Midwest and eastern plains, affecting states such as Iowa, Illinois, Nebraska and Minnesota. Any effect on planting progress and condition scores will remain a key focus of markets over the coming months until harvesting draws closer, as markets try to anticipate yields.
At home, native wheat and barley are moving at €178 and €165 respectively. Merchants are looking for buyers at this point with demand beginning to slow – a function of the time of year and good weather. November prices for wheat and barley are at €173 and €163 respectively. Prices for maize and soya bean remain unchanged on last week, at €185 and €355 ex-port respectively.
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Updated supply and demand forecasts from FranceAgrimeter show reduced cereal stocks – with barley now at a nine-year low. This has pushed on futures slightly, with the revision due to an increased forecast for exports from the country to non-EU destinations.
On the other side of the Atlantic, markets are reacting to the weather and its impact on cropping prospects, with this year’s US planting intentions now known. Planting progress of the US maize crop and condition ratings for winter wheat are currently under the microscope. According to the USDA’s latest report, maize plantings are back on last year and the five-year average. On 16 April, 6% of the crop had been planted, compared with 12% last year and an average of 9% from 2012 to 2016.
Reports are that progress has been affected by wet weather across the Midwest and eastern plains, affecting states such as Iowa, Illinois, Nebraska and Minnesota. Any effect on planting progress and condition scores will remain a key focus of markets over the coming months until harvesting draws closer, as markets try to anticipate yields.
At home, native wheat and barley are moving at €178 and €165 respectively. Merchants are looking for buyers at this point with demand beginning to slow – a function of the time of year and good weather. November prices for wheat and barley are at €173 and €163 respectively. Prices for maize and soya bean remain unchanged on last week, at €185 and €355 ex-port respectively.
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