US wheat worries support world prices

  • 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.

Taken from HGCA weekly MI Bulletin
To contact the HGCA phone 020 7520 3972

Click here to visit the Home-Grown Cereals Authority

See more