Late last Friday, the United States Department of Agriculture (USDA) published its final 2022 US wheat production estimate and surprised markets by cutting over 130 million bushels from its September estimate, which was in line with average trade expectations. The USDA sees the crop down to 1,650 million bushels; the equivalent of 44.9 million tonnes. This reduction in the US wheat production estimate coupled with lower-than-expected corn and wheat stocks in the US (as of 1st September) saw futures prices make sharp gains. The rally continued into the beginning of this week.
During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo
For other topical updates and advice from our experts, subscribe to our blog: www.frontierag.co.uk/blog/subscribe
Follow Frontier Agriculture on Twitter at www.twitter.com/FrontierAg
Hosted on Acast. See acast.com/privacy for more information.
