US wheat worries support world prices
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CBOT wheat prices were $4 higher on pre-Christmas levels as a slight decline in crop-condition ratings, and concerns that melting snow-cover could leave crops vulnerable, bring 2001 crop worries to the fore again.
Maize prices are unchanged on pre-Christmas levels.
A rise between Christmas and New Year was cancelled out by rumours that China could subsidise maize exports this season.
- Surprise rate cut weakens Dollar
The US Federation cut interest rates by 0.5% outside of the usual monthly timetable last week, immediately leaving the US Dollar weaker against most currencies.
- Aussie wheat estimate rises
A US Department of Agriculture Attaché report estimates Australias wheat crop up 0.3m tonnes on December, at 19.2m tonnes.
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
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