Solutions required as wheat, maize and barley crops have significant damage
The drought in many regions of the European Union and Eastern Europe has caused significant damage to wheat, maize and barley crops, reportsFood Ingredients First.
Weather conditions are affecting the quality of the wheat as well as its quantity; because of the drought, the failing number is unusually high. There have been reports that the governments of drought-hit German, Swedish, Finnish, Lithuanian and Danish farmers are considering special aid packages.
According to the Food and Agriculture Organization of the United Nations (FAO), prices of these crops could remain under upward pressure.
Although the agency believes that the overall effects of the recent droughts are not yet alarming, there may be a need for alternative solutions if the cost of these ingredients continues to rise.
US Corn Price Idx:ZCPAUS.CM
open: 6.9023
high: 6.9023
low: 6.6848
close: 6.7926
US Soybean Price Idx:ZSPAUS.CM
open: 15.1216
high: 15.1241
low: 14.6083
close: 14.6678
US Hard Red Winter Wheat Price Idx:KEPAUS.CM
open: 8.2924
high: 8.3954
low: 8.0848
close: 8.1154
US Soft Red Winter Wheat Price Idx:ZWPAUS.CM
open: 7.5497
high: 7.6775
low: 7.4014
close: 7.4256
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