The beginning of the week saw wheat futures markets extend their losses, with London wheat futures losing almost 8% of their value since the peak on 3rd October. Improving wheat crop prospects for Argentina this season, as well as for the EU and UK in 2025, encouraged the selling.
The Rosario Grains Exchange raised its Argentina wheat production estimate to 19.5 million tonnes following recent rains. It also raised the wheat export estimate to 13.3 million tonnes, which if achieved would be the second highest ever. Crop ratings for Argentinian wheat increased from 31% to 38%, ‘good/excellent’.
During 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
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