In recent weeks, analysts have been increasing their wheat production estimates for major exporters Russia, Ukraine and the EU-27. This has left a negative tone and seen world prices continually ease during June. This change has been highlighted by London wheat futures which lost £14/t during the month. However, the primary negative price driver has been expectations for a notably higher 2021-22 US corn crop than previously anticipated.
You can also listen to the Frontrunner podcast by pressing 'play' or downloading the track from within the report. The report this week is read by marketing assistant, Becca Russell.