Market update week 25
According to FranceAgriMer, soft wheat quality remained stable at 62% “good to excellent”, the lowest level since 2020. Durum wheat is also stable at 63% “good to excellent”. Maize, no 97% sown compared to 90% last week, has stabilised at 80% “good to excellent”. Barley is doing well. Winter barley rose 2 points to 65% “good to excellent”. Spring barley rose 1 point from last week at 75% “good to excellent”.
According to FranceAgriMer, soft wheat quality remained stable at 62% “good to excellent”, the lowest level since 2020. Durum wheat is also stable at 63% “good to excellent”. Maize, no 97% sown compared to 90% last week, has stabilised at 80% “good to excellent”. Barley is doing well. Winter barley rose 2 points to 65% “good to excellent”. Spring barley rose 1 point from last week at 75% “good to excellent”.
The start of the US winter harvest weighed on prices, especially as it benefited from dry weather in the week ending 16 June. On the other hand, less-than-normal rains in northern India during the first half of June could limit water supplies for the 2024/25 season.
The start of the US winter harvest weighed on prices, especially as it benefited from dry weather in the week ending 16 June. On the other hand, less-than-normal rains in northern India during the first half of June could limit water supplies for the 2024/25 season.
USDA crop ratings for winter and spring wheat improve. Winter wheat rose 2 points during the week to 49% with the “good to excellent” rating. Summer wheat rose 4 points to 76% “good to excellent”. Maize and soybeans fell as did wheat, with the USDA reporting after a slight deterioration in crop conditions. Maize lost 2 points to 74% “good to excellent”, as did soybeans, which fell 2 point to 70% “good to excellent”.
USDA crop ratings for winter and spring wheat improve. Winter wheat rose 2 points during the week to 49% with the “good to excellent” rating. Summer wheat rose 4 points to 76% “good to excellent”. Maize and soybeans fell as did wheat, with the USDA reporting after a slight deterioration in crop conditions. Maize lost 2 points to 74% “good to excellent”, as did soybeans, which fell 2 point to 70% “good to excellent”.