Miller Magazine Issue: 131 November 2020

85 MARKET ANALYSIS MILLER / November 2020 Bear in mind, bulls: Correction is near Wheat continues its price rally ignoring production growth in Russia, Canada and Australia. There is a lack of supply of feed and low protein grains on the market. The line-up is extremely tight before the Southern Hemisphere harvest reaches the market, but Argentina and Australia will actually not ease the price rush much. Over the past two weeks, tenders have been held by all key importers, and prices were further supported by news of a lockdown in Europe. Elena Faige Neroba Business Development Manager Maxigrain Wheat continues its price rally ignoring production growth in Russia, Canada and Australia. There is a lack of supply of feed and low protein grains on the market. The line-up is extremely tight before the Southern Hemisphere harvest reaches the mar- ket, but Argentina and Australia will actually not ease the price rush much: part of the harvest has already been contracted at a fairly high price. Over the past two weeks, tenders have been held by all key importers, and prices were further supported by news of a lockdown in Europe. Quality requirements were