Corn conditions worsen whilst wheat supplies improve, prices higher.

Location
UK
Cereals
  • 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.
Oilseeds
  • 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.

The Grain Exchange is a platform covering every element of grain markets, from innovative crops and new market opportunities, to budgeting and risk management. “The Grain Exchange is an incredibly useful new element and we are really looking forward to the seminars we have lined up,”...
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