Production fears relating to cold and wet in different parts of the world continue to add confidence to grain markets.
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Global weather events continue to dominate grain markets, with additional concerns being generated by the beast from the east. There are real fears that winter crops in the ground will be vulnerable to temperatures below -12°C as much of the crop has not been subject to adequate hardening conditions in the winter to date.
These fears extend beyond central Europe, but their consequence relate mainly to the production and export potential from countries like Russia in particular. This is a particular issue for wheat, as it is only crops in the ground that would be affected. All of these issues are now combining to add confidence to the market.
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There are also growing concerns on the maize side, particularly from South America. In Brazil, the rain that is preventing soya bean harvesting continues to prevent the planting of its Safrinha maize crop. But this is still only a potential problem rather than a significant market driver. And the AHDB reports that Argentina has significantly reduced its maize production as a result of its ongoing drought.
Native prices are firmer on the back of the changing sentiment. Spot barley is now at or above €180/t, with wheat in the €175 to €177/t bracket out to summer. Maize ex-port has risen again and is now put at €180/t in the short term. New-crop wheat is also possibly stronger at up to €175/t with barley at €170-plus per tonne dry. UK prices remain largely unchanged on last week.
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Global weather events continue to dominate grain markets, with additional concerns being generated by the beast from the east. There are real fears that winter crops in the ground will be vulnerable to temperatures below -12°C as much of the crop has not been subject to adequate hardening conditions in the winter to date.
These fears extend beyond central Europe, but their consequence relate mainly to the production and export potential from countries like Russia in particular. This is a particular issue for wheat, as it is only crops in the ground that would be affected. All of these issues are now combining to add confidence to the market.
There are also growing concerns on the maize side, particularly from South America. In Brazil, the rain that is preventing soya bean harvesting continues to prevent the planting of its Safrinha maize crop. But this is still only a potential problem rather than a significant market driver. And the AHDB reports that Argentina has significantly reduced its maize production as a result of its ongoing drought.
Native prices are firmer on the back of the changing sentiment. Spot barley is now at or above €180/t, with wheat in the €175 to €177/t bracket out to summer. Maize ex-port has risen again and is now put at €180/t in the short term. New-crop wheat is also possibly stronger at up to €175/t with barley at €170-plus per tonne dry. UK prices remain largely unchanged on last week.
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