Grain/oilseed bulls corralled by huge US crop forecasts

摘要

Bearish estimates from the US Department of Agriculture (USDA) pushed grain and oilseed markets sharply lower this week despite the normally firming influence of a weaker US dollar. The collapse weighed heavily on EU markets where Paris milling wheatfutures shed about 5 per tonne on the week at one stage. US market analysts always warn that USDA's final crop estimates may contain a 'curve ball/ data that wrong foots market assumptions. That is just what happened this week as it came out with a maize crop forecast way beyond even the most optimistic hopes.