Frontrunner - 19th March 2021
Please note, in this audio report China was reported to have purchased three million tonnes of US supplies during the week commencing the 15th March 2021. Following the release of this recording, China purchased a further 800,000 tonnes.
World wheat markets have slipped 2-3% lower this week following better than expected wheat crop estimates from analysts for many of the world’s primary wheat exporters: the US, Russia, Ukraine, and the EU.
Much of the US wheat belt has stayed dry for several months but recent snow and rain has proved beneficial. Weekly crop ratings were ‘good’ to ‘excellent’ for both Oklahoma and Kansas which were up four points to 57% and two points to 38% respectively. More rain is due with significant storms forecast to arrive.