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London wheat continued to follow Paris and US markets up
London November 20 closed up £2.05 (£179.25) and November 21 + £1 (£155.50)
For the week, November 20 + £2.25 and November 21 + £1 as recent rises cancelled mid-week losses
Russian wheat prices were stronger due to weaker rouble and lack of sellers coupled with good demand.
French maize 4% cut (1% last week) with 59% rated good to excellent (60% last week)
US corn, soya and wheat continued to rally with funds, so far, maintaining long and resisting profit taking.
China strong buyer of US soya, US origin discount to Brazilian; estimated China well covered Oct, Nov, 80% Dec and 50% Jan but, demand may increase as Chinese crops damaged by typhoons and flooding.
Trump announces $13 billion support for farmers affected by Covid; level of support will be based on yield and prices
Dry conditions are beginning to concern new crop in Russia, Ukraine, Argentina and Canada.author: Joe Beardshaw