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A Miller Magazine commentary says EU grain stocks to use are at a 40-year low and new-crop carryover looks tight. It notes USDA's initial new-crop corn stocks-to-use ratio is the lowest in 10 years and soybeans the lowest ever.
Strong feed demand, including from China, is expected to keep wheat supported by corn prices.
Tight stocks and high corn values underpin feed wheat prices and encourage buyers to cover forward needs. This is routine market commentary rather than a new supply shock.
millermagazine.comNewclick Dijital Reklam AjansıJun 6, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
