AHDB - UK Agriculture and Horticulture Development Board

06/21/2024 | News release | Distributed by Public on 06/21/2024 03:58

Monitor Farms and why should I attend? Grain market daily

  • Grain and oilseed prices fell again yesterday on easing weather concerns and selling by speculative traders. Ongoing harvesting in the US and southern Ukraine also added pressure to wheat prices.
  • The forecast of imminent rain in key US maize and soyabean growing areas eased worries about the impact of ongoing high temperatures. However, in some areas, the rain could be quite heavy. Something to watch longer-term are if yesterday's predictions from the US National Weather Service are confirmed. It reports a much higher chance of above-normal temperatures and below-normal rainfall in key maize growing areas through July. Weather conditions in July are crucial to US maize yields.
  • Condition scores for French winter wheat remined stable in the week ending 17 June, though winter and spring barley ratings dipped slightly (FranceAgriMer). Harvesting of winter crops seems on course to begin in late-June.
  • Nov-24 UK feed wheat futures fell £2.00/t to settle at £197.45/t, while the May-25 contract lost £2.40/t to close at £205.10/t. Nov-24 Paris rapeseed futures fell €2.75/t to settle at €472.00/t.