| After yesterday’s bullish push higher to start the week, corn and wheat markets have both been under pressure today. In the US and the corn and soybean harvest has continued to march ahead. The Corn harvest reached 66% complete by Sunday, well ahead of the 53% long-term average. For soybeans and the harvest progress has reached 73% complete, marginally ahead of the 70% long-term average. The theme of average progress in the US also extends to wheat planting, with 80% of winter wheat planted, in line with average. In Russia, and winter sowing is also catching up. Reaching 17.5Mha planted, Russian winter sowing is now just 0.7Mha behind 2020, halving the deficit at the start of the month. |
Categories: Blog
