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Grain prices fall following maize crop forecast

The prospect of the US producing its second-largest maize crop on record weighed on markets, Nov-26 UK feed wheat futures slipping to £205.25/t The USDA unexpectedly raised its US maize…

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Grain prices fall following maize crop forecast

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The prospect of the US producing its second-largest maize crop on record weighed on markets, Nov-26 UK feed wheat futures slipping to £205.25/t The USDA unexpectedly raised its US maize production estimate to 407.3 Mt, after increases to national yields. Further, beginning stocks rose after the September Grain Stocks report. Although demand was revised higher, the increase in supply was larger, pushing 2026/27 US ending stocks up to 47 Mt. According to AHDB analysts, the domestic market was further pressured by sterling strengthening against the euro. Another driver of market sentiment could be the next USDA crop progress report. In…