09 September, 2021

World: Grain supply and demand becomes tighter

World grain supply and demand has become tighter as per USDA and IGC August estimates, H. M. Gauger GmbH said in their September report.

Since July 30 physical wheat markets have risen by US$30 to 45, barley markets by USS$20 to 30 per tonne. In futures markets only MATIF reflected physical markets, quotes are up €28 per tonne.

Improved crop prospects in the Midwest and the destruction of elevation capacities in the Mississippi river by hurricane Ida affected especially corn and soybean markets. The Mississippi elevators handle 60% of all U.S. grain exports. It will take weeks to repair the technical damages and re-establish the grain flow. Statistics Canada’s Canadian crop estimate, based on satellite imagery, was well down from last year, but larger than expected, which was taken as bearish by the trade.

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