Manufacturers can expect a stable few months on the commodities front with no reason for corn and wheat price increases, subject to weather conditions remaining favorable, says Rabobank.
IGC: Indonesia leads flour imports, US farm profits to drop 13.8%, Ebola threatens harvest, CBH withdraws port agreement proposal on ‘conflicting messages’, and IM 9500 approved in three more markets.
Poor UK harvests and a deregulation of Canada’s grain market has meant that Canadian wheat sales to the UK have increased by 50%, but the UK industry says that need not mean a long term trend.
Worldwide sugar prices have fallen in the second quarter (Q2) of 2012 as the market is projected to record a surplus for the next two seasons, according to Rabobank International.
Sugar stocks should rise significantly from their current low levels, with analysts forecasting a global sugar surplus of around 9.5m tonnes in the 2011/12 (October-September) crop year, on the back of increased production in Europe and Asia.
Saw toothed grain beetles could decimate British crops and lower
supplies for bread manufacturers if growers fail to implement
proper post-harvest procedures.