Cumulative exports to date stand at Nevertheless, these dry conditions generally do not present an immediate concern for crops," they note.

Ukraine exported This volume included However, UK bread milling wheat prices are historically firmer, with average UK ex-farm prices two weeks ago hitting their highest level in 22 months," said the HGCA.

As part of the tighter UK wheat supply and demand picture that we already knew about this season, there has been continued strong demand for feed wheat for both bioethanol and animal feed," they added.

Exports fell to 93 TMT the lowest monthly total since July On a global level, Chicago wheat futures closed at their highest levels since last June on Wednesday following the USDA's move to cut its forecasts of US and global end-season stocks for wheat the previous week.

This has also triggered some short-covering among the spec community. UkragoConsult estimated the Russian wheat crop at This is also only 4.

In other news China reported that they'd imported 7. Mar 17 beans were up 32 cents compared with last Friday. Corn: The market closed higher on the day and versus last Friday.

In Chicago the Mar 17 contract closed at the best levels on a front month since late June However they also upped consumption by 6 MMT and cut carryout by 2.

Chinese corn usage was projected 4 MMT larger, mostly from increased feed usage. Moreover, a smaller barley crop in Iran boosts the demand for other imported feedstuffs," they added.

For Chicago wheat this was a more than 7-month closing high for a nearby contract. World ending stocks were lowered from For the week that places nearby London wheat GBP0.

That helped Chicago wheat futures climb to more than 7 month highs, supporting the European market. Brussels reported TMT worth of EU soft wheat exports this week, taking the cumulative total so far this season to UK prices remain expensive compared to the rest of the world, reflecting relatively tight availability in the face of strong demand from the biothethanol sector.

The harvest is moving on, and the crop seemingly getting larger in Brazil. FC Stone increased their soybean production estimate for Brazil to Managed money in Chicago continues to hold a significant short position, seemingly limiting downside.

Positive factors for wheat include reduced winter wheat acres, dry extended forecast for the Plains, and the reduction of spring wheat acres by as much as 1.

EU corn stocks for the end of the season, at 9. This is viewed as supportive for EU wheat prices. Saudi Arabia bought 1. Statistics Canada placed total wheat stocks there as at 31 December at To keep the flies off the chicken.

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