- Last week’s correction was healthy on one side, as the market has rallied almost 90% since last August.
- The USDA’s increase of Chinese imports is based on real needs: the rapid increase of its pig herd and the Government’s low stocks.
- When compared with corn and soybeans, wheat is the only grain that looks well supplied in 2020/21. However, the 9m tonnes of lower ending stocks leaves wheat stock variation just 4m tonnes positive, down from the 13m tonne stock build we had before.
3 years ago
3 min read