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 rallied 11.60usc/bu, Kansas was up 15.60usc/bu while Minni gained 15.40usc/bu. Matif milling wheat was down EUR$2.50 while the Black Sea contract was up USD$0.50/mt. Corn was up 8.20usc/bu, and beans were up 20.60usc/bu, meal gained USD$4.60/st and beanoil was up 1.41usc/lb. Matif canola was up EUR$0.50/mt. The Dow was up 27 points and the Aussie went out at 0.71070
Global Highlights Strategie Grains cut its EU corn production forecast by 10mmt to a 15-year low of 55.4mmt due to severe drought across Europe. “The outlook for the 2022 crop grain maize harvests across Europe has deteriorated drastically,” Strategie Grains said in its monthly report. “This would be the smallest harvest since 2007.” The sharply lower production forecast caused the consultancy to increase its forecast for 2022-23 EU corn imports by nearly 3mmt to 20mmt. Strategie Grains lowered its 2022-23 EU wheat export forecast by 1.4mmt to 29mmt as more will be used domestically for feed and amid strong export competition from Russia