Fast export pace maintained across EU Since their low point at the end of August, the world's wheat markets continued to move higher this week. This increase in prices was illustrated by the purchases Egypt made on Tuesday in their latest tender for shipment during the first half of November. Egypt bought 235,000 tonnes at an average of over $235/t...

Harvest halted by poor weather as markets react to fluctuating currency With the UK wheat harvest underway, our domestic market this week has been dominated by sterling volatility and patchy weather. At the weekend, the new UK Prime Minister signalled the real possibility of a no-deal Brexit which rattled currency markets and caused sterling to dro...

Of late, the primary wheat market driver has been the delayed US corn planting. Earlier this week, the trade patiently waited for two sets of data about the situation to help gain a steer on the next likely wheat price movements. The first of these data sets came on Monday evening in the form of the latest weekly US crop report. It put the drilled ...

Disastrous planting conditions in the US continue to hamper progress. As of Monday, the reports were of 69% planted compared to the 96% average. It is difficult to quantify total crop losses until the final drilling dates and these vary in each state, however, there is already talk of 8 million acres of Prevented Planting insurance already claimed....

Tomorrow marks the last trading day for May London futures and, over the last few weeks, we've seen a large volume of futures tendered right the way from Edinburgh to Kent. As such, the added weight of physical grain has pushed prices around £10 lower since the start of the month. Consumers are well aware of this and are therefore in no rush to cov...

The USDA's first stab at 2019/20 world wheat and corn balance sheets last Friday indicated a boost of supplies and extended the recent weak price trend. Early this week, French and London wheat futures hit new contract lows as markets reacted to the USDA forecasts for record world wheat and corn crops next season; put at 777 million tonnes and 1,17...

UK feed wheat markets remain under pressure after Friday's sharp £3.80 futures sell-off. May LIFFE hasn't traded since then and open volume sitting on the exchange is around 60,000t, which could add further pressure to old crop prices if tendered. Consumer demand is understandably quiet as markets have a decidedly bearish feel to them and, for any ...

Wheat markets took a distinctly bearish turn yesterday, with EU markets and London futures led lower by the US wheat market. The winter wheat tour got underway in the US Southern Plains and saw good looking wheat crops with strong yield potential. Yields are estimated to be well above last year and at three year highs. CBOT Hard Red Winter wheat fu...

While many of us enjoyed the Easter weekend weather, both winter and spring crops were looking very thirsty as the British Isles broke temperature records. However, with rain now in the forecast and the weather pattern changing both here and in much of Western Europe, wheat futures markets started the working week with a bump lower. Concerns that t...

The USDA published their April World Supply and Demand report yesterday and, as expected, it held bearish data – particularly for corn. World wheat production was put marginally lower at 732.87 million tonnes but falls in consumption saw year end stocks increase by five million to 275.61 million tonnes. This is just six million tonnes down on the y...

The UK market continues to be in a state of confusion regarding our wheat crop size, and Brexit. As we enter the final quarter of the cropping year, there is no clarity on the UK wheat crop size. Estimates vary, from DEFRA projecting an area equating to a 13.95 million tonne crop, to the Basic Payment Scheme (BPS) survey suggesting a 100,000 hectar...

Global markets are increasingly focused on weather patterns and the size of the US fund short for fresh direction. Widespread flooding and below average temperatures in the US plains and Midwest remains a flag for growing crops, while warmer forecasted weather could compound the problem as snow-melt will add to ground moisture levels. Conversely, s...