Maize price expected to ease, while wheat price firms

Low stock levels, combined with weather-related concerns, resulted in global agricultural commodity prices rallying from mid-April to mid-May. On 12 May, the US Department of Agriculture released the much-anticipated World Agricultural Supply and Demand Estimates (WASDE) report, which forecast favourable production and consumption of grains and oilseeds over the coming season.

This will ultimately result in increased global stock levels, although this growth will be marginal for some commodities, such as wheat.