HGCA world report – US futures down
-
CHICAGO Board of Trade wheat futures ended the week lower from last Friday, with March and May 2001 wheat losing up to $3.40/t.
Slow US Department of Agriculture weekly export figures and a receding winter-kill threat to the wheat crop featured through most of the week, but by Friday news of further Egyptian buying helped to improve sentiment.
- StarLink and Dollar hold back Chicago maize
US maize is losing out to strong Chinese export competition, whose export pace at 993,483 tonnes to date is faster than expected.
Lingering Japanese concerns over testing procedures for StarLink maize were largely to blame together with a stronger US Dollar.
However as the week ended, reports were made of a sale of 127,000t of US maize to Japan.
- Argentina; India
ONLY 10% of Argentinas wheat crop remains to be harvested and weather is helping the pace of activity.
With Brazilian buying said to be strong, cumulative wheat sales are now at 5.9 million tonnes.
Indias 2001 plantings are 9% down on last year due to lower soil moisture. Analysts are pegging the crop at 71m tonnes, down from last seasons 76m.
|
Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
  |