Bullish week for grains with corn leading the charge
Corn has continued in a bullish upward trend now for a couple weeks, buoyed by domestic US demand, finds the latest analysis by CRM Agri.
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Corn has continued in a bullish upward trend now for a couple weeks, buoyed by domestic US demand, finds the latest analysis by CRM Agri.
EU compound feed production has been negatively impacted by the spread of animal diseases but boosted by the continuing global grain market rally this year, according to data from FEFAC.
Corn consumption in Colombia is forecast to reach 7.5m MT in MY 2021-22, a 2.7% hike on the previous year’s levels, according to the USDA.
This week started in a slightly bearish way, with data from the Commodity Futures Trading Commission (CFTC) indicating that, post-WASDE, managed money funds had been reducing the number of long positions held across corn, wheat and soybeans, reported CRM Agri.
DG Agri, in its newly published short-term outlook, estimated EU oilseed production for 2021-22 at 30.4m tons, delivering a real boost to supplies.