- GM maize worries SE Asia
Chicago maize prices eased just 50US¢ last week despite concerns that Japan and South Korea, two critical export markets, would shun US maize due to the potential presence of GM variety StarLink.
Traders noted that the strength in soyabean markets had helped maize prices. CBOT old-crop wheat futures eased slightly amid continued slow demand.
But new-crop prices rose, helped by a private US forecast of winter wheat plantings down another 0.7m ha on last years already low level.
- Rain threatens Australian wheat
AWB noted in its recent pool price outlook that heavy rain last week in New South Wales, which accounts for 30% of Australian wheat production, may lead to downgrading or non-delivery of some wheat.
Taken from HGCA weekly MI Bulletin
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