Latest international cereal prices released by FPMA
International prices of maize increased for the second consecutive month in July, with the negative impact of excessive rains on crops in the United States of America in the first half of the month underpinning prices.
By contrast, export prices of wheat from the United States of America
declined slightly with 2015 production prospects still favourable overall, while quotations from other origins strengthened slightly.
Export prices of maize increased for the second consecutive month
in July. The international benchmark US maize (No.2, Yellow) price
averaged USD 179 per tonne, 5 percent up from June and the highest
value since August last year. The price rose significantly in the first
two weeks of July, underpinned by the negative impact of heavy
rains on crops in key-growing areas of the United States of America,
the world’s largest producer and exporter of maize. Prices, however,
retreated partially in the second half of the month, as a result of
improved weather and sluggish export demand. Overall, maize export
prices in July remained below their year-earlier values.
Export prices of wheat from the United States of America declined
slightly in July with the benchmark US wheat (No.2 Hard Red Winter)
price averaging USD 238 per tonne, 2 percent lower than in June.
Despite a short-lived rally on adverse weather concerns early in the
month, prices fell overall in July reflecting expectation of ample
supplies in the 2015/16 marketing year and weak export demand.
Quotations from other origins strengthened somewhat. In general,
wheat export prices remained around 20 percent lower than in July
The full bulletin can be ontained here.