Wheat falls, maize stable in Chicago – HGCA

CBOT wheat prices continued their slide – which started at the end of the previous week – as it became clearer that export demand for US wheat could be little effected by the EU foot-and-mouth situation.

Egypt also purchased 180,000 tonnes of Australian wheat, adding further pressure to US prices.

WORLD 2000/1 end-season wheat stocks were revised higher by 11m tonnes in the March estimates published last Thursday (22 March).

This is in light of new Chinese consumption data indicating that wheat usage was overestimated in the 90s.

The US Department of Agriculture also revised Chinese grain usage down, and hence stocks up, on a similar basis last year.

Meanwhile, end-season 2001/2002 world stocks were tentatively put at 91m tonnes in the report, down 24m tonnes.