Although today has recorded minimal impactful news or market data, in a spring weather market, rain, or the lack of, is key.
Wheat
Global wheat markets have continued to rise higher today, with the climb recorded in Chicago, Paris and the UK with Nov-21 UK feed wheat futures breached £170/T. Dry conditions persist for key spring wheat US states such as North Dakota and into Canada, with only limited precipitation forecast, rainfall will soon be required for Europe too.
Corn
Global corn markets have also continued to receive support with lack of rainfall a continued key driver, in the US and also large parts of Brazil which remain dry with only sporadic rain forecasts.
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