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AMIS Market Monitor

last release: July 2018

International Prices

World wheat export quotations softened during June. Some price underpinning continued to come from uncertainty about 2018/19 crops, with the outlook for Russia’s production and export surplus for the year ahead staying a particular focus. An improvement in harvest outlooks in some regions contributed to weaker market sentiment as June progressed, including better than expected winter wheat yields in the US, improving conditions for North American spring wheat and beneficial rains in Australia. However, much of the fall in prices in the second part of the month was linked to broad-based declines in commodity markets owing to global trade tensions.