GLOBAL - October has been associated with the first bullish sentiments for the global grain market in the season to date, writes Brenda Mullan, Analyst, AHDB/HGCA Market Intelligence.
However, despite weather events throughout the month - disrupting harvest and planting progress in parts of the US, Australia and South America - the likelihood of a record-breaking global grain crop this year remains.
The graph below puts the recent support to grain prices into perspective. Although prices have risen throughout the month, the pace of the price increases could be described as modest.
This suggests that the market does not believe the recent weather events are significant in terms of global supply and hence the effect of them has been restricted to a small uplift in futures prices.
TheCropSite News Desk