Corn conditions worsen whilst wheat supplies improve, prices higher.

  • The corn market helped support wheat today as the USDA condition update showed that crop conditions in the US have worsened falling 3% to 55% Good to Excellent over the past week.
  • Wheat concerns in the Southern Hemisphere also helped to elevate wheat prices with Aussie and Argentine conditions of particular interest due to dry weather.
  • France's soft wheat crop estimate this year has been raised by the farm ministry to 39.45MT (2nd highest on record), barley was also raised to 13.6MT.
  • Maize in France was cut once more to 12.8MT following a the summer heatwave.
  • Turkey has provisionally bought 200KT of barley in a tender.
  • Markets are now looking towards the USDA's September crop report to be released on Thursday.
  • Soybean conditions in the US were left unchanged on last week at 55% G/E and in line with analyst estimates.
  • FranceAgriMer kept the estimate for the countries OSR crop at 3.5MT (down 29% on last year).
  • Brazil is forecast to be dry for the next two weeks, this will likely cause issues from crop development and plantings of soybeans.

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Get to grips with grain markets at Cereals 2020

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Grain marketing is a key aspect of any arable business, yet getting the best out of it can be tricky. That’s why the Cereals Event has introduced a new feature for 2020.

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