Lachstock | Daily Report on Grains
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Lachstock Consulting was founded in 2007 in Australia and specialized in the grain market. Using accurate research & market analysis, they produce grain market reports that aim to reduce your costs and increase profitability.
Chicago wheat lost 6.00usc/bu, Kansas was down 11.00usc/bu while Minni fell 7.60usc/bu. Matif milling wheat gained marginally with EUR$0.25 while the Black Sea contract was down USD$0.50/mt. Corn was up 6.60usc/bu, beans were up 1.40usc/bu, while meal lost USD$13.30/st and beanoil was up 2.55usc/lb. Matif canola was up EUR$4.50/mt. The Dow gained 77 points and the Aussie went out at 0.69036
Global Highlights
Russian wheat harvest was reported at 9.9MHA, producing 43.9MMT, at a yield of 4.43MT/HA as of 2 August. Yield per hectare is close to 2017, which produced a crop of 85MMT. Recent rains in several regions of Russia have impacted the quality of winter wheat but improved yield prospects for spring wheat. According to SovEcon “There was too much rain for winter wheat at this stage which hits the quality – as farmers typically say, ‘gluten and protein have been washed away.’ However, it is improving the set-up for spring crops, including spring wheat.”
