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<blockquote data-quote="AHDB Cereals and Oilseeds" data-source="post: 7405540" data-attributes="member: 142623"><p>Wednesday - 10 February</p><ul> <li data-xf-list-type="ul">Old crop UK wheat futures (May-21) closed yesterday at £202.90/t, down £0.20/t on Monday’s close. New crop futures were pressured further closing down £0.75/t at £166.35/t.</li> <li data-xf-list-type="ul">Pressure on our domestic price was due to lower global wheat markets as Chicago wheat and Paris milling wheat contracts closed down.</li> <li data-xf-list-type="ul">This was due to the latest USDA WASDE report reducing its forecast of US maize stocks less than market expectations. World (less China) ending stocks are forecast to be 90.4Mt, down from 92.2Mt in the January report. Further to that, global imports of maize are revised up 2.7Mt far less than market expectations.</li> <li data-xf-list-type="ul">Global ending stocks were also reduced for wheat as global feed demand increased, notably for China, increasing 5.0Mt on January’s report.</li> </ul><p>Today's Grain Market Daily is now published -<a href="https://ahdb.org.uk/news/egyptian-wheat-demand-is-paramount-for-markets-grain-market-daily" target="_blank"> https://ahdb.org.uk/news/egyptian-wheat-demand-is-paramount-for-markets-grain-market-daily</a></p><p></p><p>Latest futures market prices available here - <a href="https://ahdb.org.uk/cereals-oilseeds-markets" target="_blank">https://ahdb.org.uk/cereals-oilseeds-markets</a></p><p></p><p>Click here to receive AHDB market intelligence content straight to your inbox - <a href="https://ahdb.org.uk/keeping-in-touch" target="_blank">https://ahdb.org.uk/keeping-in-touch</a></p></blockquote><p></p>
[QUOTE="AHDB Cereals and Oilseeds, post: 7405540, member: 142623"] Wednesday - 10 February [LIST] [*]Old crop UK wheat futures (May-21) closed yesterday at £202.90/t, down £0.20/t on Monday’s close. New crop futures were pressured further closing down £0.75/t at £166.35/t. [*]Pressure on our domestic price was due to lower global wheat markets as Chicago wheat and Paris milling wheat contracts closed down. [*]This was due to the latest USDA WASDE report reducing its forecast of US maize stocks less than market expectations. World (less China) ending stocks are forecast to be 90.4Mt, down from 92.2Mt in the January report. Further to that, global imports of maize are revised up 2.7Mt far less than market expectations. [*]Global ending stocks were also reduced for wheat as global feed demand increased, notably for China, increasing 5.0Mt on January’s report. [/LIST] Today's Grain Market Daily is now published -[URL='https://ahdb.org.uk/news/egyptian-wheat-demand-is-paramount-for-markets-grain-market-daily'] https://ahdb.org.uk/news/egyptian-wheat-demand-is-paramount-for-markets-grain-market-daily[/URL] Latest futures market prices available here - [URL]https://ahdb.org.uk/cereals-oilseeds-markets[/URL] Click here to receive AHDB market intelligence content straight to your inbox - [URL]https://ahdb.org.uk/keeping-in-touch[/URL] [/QUOTE]
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