Global: Arable market report - 06 November 2023

Short term, prices remain reactive to news on Southern Hemisphere grain supply, as well as global export competition. Going forward, plentiful maize boosting feed grain supplies are still expected to bring a bearish tone to markets. Focus is on South American weather, supporting the outlook short term. Longer term, large supplies are still expected to weigh on feed grain prices. Watch out for the latest USDA estimates this Thursday (09 Nov). Barley continues to follow wider movements in the grains complex. Longer term, like the wheat market, large maize supplies are expected to weigh on feed grain markets overall. Global grain movements were mixed last week as the market assessed Southern Hemisphere grain supply, as well as global export potential. Generally, prices felt pressure at the start of last week going into mid-week but regained a little strength towards the end of the week, with Chicago wheat and maize markets buoyed by a weakened US dollar on Friday. Overall, Chicago ...