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Cereals daily: weather conditions spell disaster

November 25, 2020 at 10:31 AM, Der AUDITOR
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CHICAGO/PARIS. Drought like conditions in parts of the US and a heat wave in South America are driving up prices. Russia may introduce an export tax. Germany's Christmas trade has started much earlier.

US wheat production may fall short of expectations

Concerns over a smaller US crop have driven up futures in Chicago. The Crop Progress Report, states that US wheat stocks range 3 percentage points lower than last week and 9 percentage points lower than last year. Issue are drought like conditions in Texas, Colorado and Kansas. At 358,077 mt, weekly wheat exports range 7% higher than last week. FranceAgriMer has raised the wheat export target by 150,000 mt to 6.85 million mt. Stocks are, however, expected to decline by 500,000 mt to 2.5 million mt. Russia's statisti

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