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Human consumption bean market eroded by strong Australian supplies - Grain Market Daily

Wheat
Published Feb 17, 2021

Tridge summary

As we move towards spring cropping and in line with the challenges posed by OSR, many people will be looking at alternative crop options in both winter and spring slots of the rotation. Today’s focus is on pulse markets, with beans a possible alternative crop in place of OSR.

Original content

Market Commentary Paris and UK wheat futures rose yesterday after Algeria issued a tender to buy wheat. The tender asks for wheat to be shipped to smaller Algerian ports, so could mean EU wheat has an advantage. There are also worries about cold weather in the US, which could result in some winter kill of winter wheat crops. US futures markets were closed yesterday because of a US federal holiday. May-21 UK feed wheat futures closed at £203.50/t yesterday, £3.00/t more than on Friday. The Nov-21 contract gained £1.50/t over the same period to £167.60, and Nov-22 futures rose by £1.50/t to £157.35/t. Australia will harvest 33.34Mt of wheat this season, its government said this morning, with harvesting nearly complete. This is an all-time record and 2.2Mt more wheat than it estimated in December. Its estimate of the barley crop was also increased by 1.1Mt to 13.1Mt (9.0Mt last year). The canola (rapeseed) crop is now estimated at 4.05Mt, up 0.35Mt from December (2.33Mt). Human ...
Source: Ahdb
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