Wheat
Trend: falling
- Rising global stocks (+6 million tons m/m)
- high production + weak demand impulses
- US ending stocks at multi-year high
2-4 weeks forecast:
sideways to slightly falling
- Pressure from high inventories
- Short-term support only from weather risks (US Plains)
Corn
Trend: stable to slightly weak
- US balance sheet unchanged
- Global stocks continue to rise
- Good export momentum, but not enough to drive up prices
2-4 weeks forecast:
sideways
- Range market likely
- weather-dependent (sowing USA, Brazil second harvest)
