|In a supportive day for grains, US winter wheat remains in poor condition, US corn demand is given a boost and Egypt is looking for wheat.
Winter wheat condition scores in the US marginally improved in according the last nights USDA crop progress report. Rated at 32% good and excellent, scores were up 2 percentage points from last week, and are now marginally ahead of the 2018 ratings.
The forecast for the majority of the US winter wheat area remains dry yet again this week, offering relief for dry soils.
Spring wheat planting reached 6% complete, inline with average, while overall corn planting has just begun, reaching 2% complete.
In an effort to manage higher fuel prices, the US government has taken the decision to allow the sale of e15 petrol over the summer. Normally e15 is restricted during summer months, limited to e10 due to concerns that the higher ethanol content leads to smog. The move to allow the higher levels of ethanol has the potential to increase US domestic corn use.
Egypt’s GASC is tendering for European wheat, with the news providing support for Paris milling wheat.