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Frontrunner - 9th August 2019

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WHEAT A good start to harvest Dry weather for most of the week led to good harvest progress being made into quality wheat in the southern and eastern counties. However, this has now stalled as low pressure weather systems take charge for the weekend. Data is limited at this point but high yields are a significant feature so far in this season's cam...
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Frontrunner - 2nd August 2019

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WHEAT UK reliant on export bids This week's market movements clearly highlighted the importance of exports for supporting new crop wheat prices. Huge devaluation of the pound this week saw the currency trade at a two-year low against the US dollar and euro, pushing the UK towards export parity. The result of this meant futures and physical prices r...
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Midweek market report - 31st July 2019

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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...
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Frontrunner - 26th July 2019

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WHEAT Improving French wheat crop prospects Record breaking high temperatures during June were thought to have been damaging for wheat crops across Europe and some analysts have now cut their estimates accordingly. Leading European analysts, Strategie Grains, reported in July that they cut the 2019 EU-28 soft wheat harvest by 2.2 million tonnes to ...
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Frontrunner - 19th July 2019

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WHEAT ·          Harvestpressure caps prices The Northern Hemisphere wheat harvest is well underway withFrance now as far as 50% complete; poor demand remains a theme. As a result,European markets traded steadily lower as the week progressed, with LIFFENovember futures losing almost £1/t per day. The week beg...
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Frontrunner - 12th July 2019

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WHEAT Expectations for a reduced Russian wheat crop gather momentum Upbeat crop estimates made earlier this year by many analysts estimated that the global wheat power-house, Russia would produce up to 85 million tonnes of wheat this coming harvest, adding bearish weight to markets. However, prolonged dry weather and heat during the spring and earl...
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Frontrunner - 5th July 2019

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WHEAT Market prices Markets have fallen considerably this week with most business concluded for old crop wheat. However, supplies continued to come forward, knocking farm gate prices by £4 to £6/t for old crop during the week. New crop markets are solely focussed on weather and with parts of the European harvest now underway, eyes will turn to the ...
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Frontrunner - 28th June 2019

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WHEAT US corn takes a back seat as markets are affected by EU heat wave Global grain markets have recently been underpinned by the disastrous US corn planting and there will remain an air of uncertainty until crops are harvested in the autumn. However, this week wheat markets were supported by factors closer to home as temperatures soared across we...
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Frontrunner - 21st June 2019

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WHEAT UK wheat trades lower Futures and physical prices lost around £5-£7 this week in the UK. For now, the rains have subsided and a warm, sunny weekend is forecast which is good news for developing wheat crops. Domestic consumers are fairly relaxed as crops with huge potential look set to yield well should the sunshine continue. The same is ...
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Frontrunner - 14th June 2019

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WHEAT USDA highlights US corn crop woes In their June World Supply and Demand Report published this week the United States Department of Agriculture (USDA) highlighted the impact of the delayed US corn planting as farmers continued their battle against ongoing heavy rain. Due to the adverse weather conditions, US farmers are predicted to plant 3 mi...
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Midweek market report – 12th June 2019

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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 ...
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Frontrunner - 7th June 2019

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WHEAT UK wheat markets under pressure Old crop and new crop wheat values made some losses this week. For old crop, consumer cover is relatively high and this week's latest Department for Environment, Food & Rural Affairs (Defra) figures confirmed a sizeable 1.98 million tonne carryout which is 266,000 tonne higher than a year ago. The smaller h...
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Market report - 6th June 2019

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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....
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Frontrunner - 31st May 2019

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WHEAT US farmers struggle with adverse weather Continued adverse weather which has prevented US farmers from completing their corn crop planting this spring remains the primary world wheat price driver. The speculative funds had built a record short position on the United States Chicago Board of Trade (CBOT) corn futures market which earlier this m...
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Midweek market report - 29th May 2019

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Globally, wheat prices have continued to rise on the back of the US corn planting pace. Currently the single market driver, corn planting progress is now at a record low following adverse wet weather. Crops planted at this late stage lose yield potential, with some at risk of not being planted at all. Last night, the United States Department of Agr...
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Frontrunner - 24th May 2019

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WHEAT An abundance of old crop Old crop wheat continues to be offered to the market chasing a finite demand. It now seems that most millers and compounders have only the July transition gap to cover. The air of tightness around the UK balance sheet felt by the market some weeks ago has largely disappeared and now the emphasis is to off load supplie...
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22nd May 2019 - Midweek market report

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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...
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Frontrunner - 17th May 2019

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WHEAT What a difference 24 hours makes On Monday we returned to markets which were still digesting last week's bearish USDA report and under some significant pressure. Global prices were sat at contract lows and the hedge funds in America held huge short positions after bigger than expected global stocks were forecasted in the report. Spill-over pr...
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15th May 2019 - Midweek market report

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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...
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Frontrunner - Latest USDA fuels bearish trend

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WHEAT The USDA published their latest monthly world supply and demand report late on Friday afternoon as well as their first estimates for next season. The report did nothing to arrest the current bearish trend for wheat and corn markets although it could be argued that their production estimates for 2019/20 are optimistic. There is plenty of weath...
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