Tridge summary
Global grain and oilseed markets are experiencing volatility due to geopolitical tensions, supply uncertainties, and varying production forecasts. Grain prices are influenced by the Black Sea conflict, strong US maize demand, and potential wheat supply risks, with recent price increases in Chicago and Paris futures. The International Grains Council has adjusted wheat and maize forecasts, while US and French wheat conditions improve. Australia's wheat forecast is reduced, and UK wheat futures rise. Soybean and rapeseed markets face pressure from falling vegetable oil prices and increased imports, with Brazilian soybean exports to China expected to grow. The UK anticipates a significant drop in oilseed rape planting. Data collection for these insights concluded by November 11, with results received by November 15.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Global supply uncertainties, underpinned by the escalation of the conflict in the Black Sea region and lower production outlooks, could support prices in the short term. However, favourable weather in the US and larger crop forecast in Australia could stabilize prices longer term. Stronger demand for US maize and potential supply risk for wheat could support prices in the short term. However, in the longer term, ample global supply forecasts are expected to keep price increases in check. Short term feed barley prices are being supported by demand in the Middle East and the broader grains market. But, overall positive Southern Hemisphere yield prospects cap the longer-term outlook. Global grain prices edged higher last week (Friday-Friday). Dec-24 Chicago wheat and maize futures rose by 1.5% and 0.4%, to close at $199.96/t and $167.52/t respectively. Paris milling wheat futures (Dec-24) increased by 1.3% over the period, closing at €219.00t. An escalation of the conflict between ...
Source: Ahdb
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