The International Grains Council (IGC) recently trimmed its forecast for the 2015/16 wheat harvest by 4Mt to 711Mt, -1% YoY (USDA forecast: 722Mt). The IGC now expects global ending stocks to fall by 2.0Mt YoY to 196Mt, -2% YoY (USDA: 202Mt). The downgrade has been attributed to increased concerns about the weather in some wheat producing countries. In light of this situation, the benchmark US wheat contract touched US$5.86 a bushel in the futures market, its highest level for five months and
30 Jun 2015
VSA Agri Monthly: June 2015
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VSA Agri Monthly: June 2015
The International Grains Council (IGC) recently trimmed its forecast for the 2015/16 wheat harvest by 4Mt to 711Mt, -1% YoY (USDA forecast: 722Mt). The IGC now expects global ending stocks to fall by 2.0Mt YoY to 196Mt, -2% YoY (USDA: 202Mt). The downgrade has been attributed to increased concerns about the weather in some wheat producing countries. In light of this situation, the benchmark US wheat contract touched US$5.86 a bushel in the futures market, its highest level for five months and