6 July 2020
Global grain prices received a sharp boost last week, particularly maize. Prices moved higher following the release of the USDA acreage report last Tuesday; maize plantings are estimated at 37.2Mha, down 2.0Mha from March’s intentions survey. If we see trend yields and abandonment, the US could still be set for a record crop. With a reduced crop area, weather again becomes an important swing factor for maize markets, particularly with the crop now silking.
29 June 2020
Global grain prices fell last week amid upgraded crop forecasts, plus harvest pressure and worries about the rate of coronavirus infection in parts of the US.
22 June 2020
Global new crop wheat futures were in retreat last week, falling on US harvest pressure and a basic lack of bullish drivers. New crop maize values continued to float at their current support level, before making small gains on Friday.
15 June 2020
Concerns remain about European and Ukrainian crops and the impact of recent rainfall. However, renewed confidence from SovEcon in Russian production coupled with the US harvest progressing at pace could cap any gains.
8 June 2020
Movements in global grain markets were mixed last week, with wheat prices largely tracking a weather led sentiment.
1 June 2020
Crop concerns, especially in Europe, are still one of the driving forces supporting wheat prices currently. Longer-term support for prices depends on harvest confirming how yields have been impacted.
26 May 2020
By and large, global wheat markets were supported last week. The continuation of new crop weather concerns helped Chicago wheat futures (Dec-20) gain 1.7% Friday-Friday, although movement throughout the week varied.
18 May 2020
UK futures ended the week higher in contrast to global markets. Prices fell through the week following the global pattern, but gained at the end of the week as sterling dropped sharply against both the US dollar and euro.
11 May 2020
Weather prospects for European and Black sea wheat remain similar to last week, and provide a somewhat bullish sentiment for markets. Pressures remain in the longer term from a build-up in global wheat stocks.
27 April 2020
Traditionally, this time of year leaves global markets at the mercy of the weather, especially for new crop production estimates.