WORLD FEED & GRAIN MARKET REVIEW

摘要

Drought and heat waves threatening quality wheat crop yields in the US, Australia, Russia, Ukraine and parts of Europe itself have been pushing prices to higher levels across the board this past month. Chicago soft red winter wheat futures, the most-followed world benchmark, rose to its highest levels since June last year, Paris milling wheat futures towards one and a half year highs and US hard spring wheat to its most expensive since mid-2014.The bullish movement, which has more or less ignored this year's record supply of ordinary soft wheats, was led by hard spring types, the high-protein end of the market. As things were shaping up in early July, it seemed likely that the premiums chargedfor these best grade bread wheat will continue to increase and probably stay unusually high well into next year.