Frontrunner - 1st July 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

The General Authority for Supply Commodities (GASC) made its largest single wheat purchase for over 13 years this week, buying 815,000 tonnes for shipment during August, September and October. Last weekend, the Egyptian Minister for Supply and Internal Trade said his country needed to import ten million tonnes of wheat over the next six months while having secured 3.9 million tonnes from local farmers and having wheat reserves sufficient for almost six months.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is ready by marketing assistant, Becca Russell. 

Continue reading
  413 Hits
  0 Comments
413 Hits
0 Comments

Frontrunner - 24th June 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

World wheat futures have fallen sharply this week, as highlighted by the US Chicago Board of Trade (CBOT), for which wheat values declined almost 9.5% since last Friday's close. These losses have been driven by fears of demand destruction in light of failing economies, unaffordable high commodity prices and grain that remains trapped in Ukraine.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

Continue reading
  648 Hits
  0 Comments
648 Hits
0 Comments

Frontrunner - 17th June 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

Late last Friday, the United States Department of Agriculture (USDA) published its June World Agricultural Supply and Demand Estimates (WASDE) report but it made few changes to the previous month's wheat and corn world balance sheets. However, markets rallied from the low levels of trading before the report, where traders had squared long positions in case of bearish data.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Becca Russell. 

Continue reading
  667 Hits
  0 Comments
667 Hits
0 Comments

Frontrunner - 10th June 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

Recent market weakness has been driven by expectations that a solution will be found for releasing trapped Ukrainian grain for shipment through Black Sea ports. This week, meetings took place in Turkey with Russian officials to secure safe routes for grain exports. Russia said that Ukraine must demine approaches to ports and that Russian forces would check ships entering Ukrainian ports which could then load grain and proceed to international waters.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

Continue reading
  717 Hits
  0 Comments
717 Hits
0 Comments

Frontrunner - 27th May 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

Wheat futures markets have again been volatile this week and have fallen sharply with losses extending by over 10% from the record highs reached earlier this month. Long liquidation and speculative selling gathered pace in response to newswire reports that Russia would provide a humanitarian corridor for vessels carrying food to leave Ukraine. Analysts estimate that over 21 million tonnes of grain will be trapped in Ukraine by the end of this season due to the Russian navy blockade of the country's Black Sea ports. The loss of Ukrainian grain supplies to the world's major importers has been the primary wheat price driver since the Russian invasion in February and has been the main element contributing to the prevailing global food crisis.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

Continue reading
  839 Hits
  0 Comments
839 Hits
0 Comments

Frontrunner - 20th May 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

The world's wheat futures markets opened the week with another notable rise in prices, setting new record highs following the news that India would ban wheat exports with immediate effect. The Indian government reacted to fears of an intense heatwave during March which cut yields, sending the country's domestic prices to record highs.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell.

Continue reading
  876 Hits
  0 Comments
876 Hits
0 Comments

Frontrunner - 13th May 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

The United States Department of Agriculture (USDA) published its May World Agricultural Supply and Demand Estimates (WASDE) report this week along with its eagerly awaited first look at the 2022-23 season. The report contained lower than expected production for US winter wheat and corn. Additionally, it outlined lower than expected world wheat stocks which sent markets sharply higher again. European wheat futures rallied again and set new contract highs.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Becca Russell. 

Continue reading
  773 Hits
  0 Comments
773 Hits
0 Comments

Frontrunner - 6th May 2022

BLOG---Frontrunner-Post-Cover-Header

The primary price driver for the world's wheat markets continues to be the impact on supply chains resulting from the conflict in Ukraine. Traders have been assessing how the world's major wheat importers can source alternative wheat supplies and had found that India was able to fulfil some of the shortfall. India had been expecting to harvest a record wheat crop of up to 111.3 million tonnes, which would be its fifth consecutive year of record production. Furthermore, its wheat exports had the potential to reach eight million tonnes.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

Continue reading
  823 Hits
  0 Comments
823 Hits
0 Comments

Frontrunner - 29th April 2022

BLOG---Frontrunner-Post-Cover-Header

Problems accessing this blog? Click here to go to our main blog feed where you'll be able to see our latest post at the top.

There are new contract highs for 2022 European new crop wheat futures this week, as markets continue to react to the longer-term threats to Black Sea wheat supplies - particularly those from Ukraine. The London November 2022 contract passed £300/t for the first time and the old crop May 2022 contract set a new record with a high of £332.20/t.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Lucinda Redgate. 

Continue reading
  734 Hits
  0 Comments
734 Hits
0 Comments

Frontrunner - 22nd April 2022

BLOG---Frontrunner-Post-Cover-Header

European wheat futures started the post-easter bank holiday weekend with strong gains, with both the Paris and London new crop markets setting new contract highs in early trade following stronger US wheat markets. Chicago Board of Trade (CBOT) futures were higher on the latest crop condition report and the overall situation is worse than trade expectations. Winter wheat slipped two points to just 30% good/excellent, this compares to 53% last year and trade expectations at 33%. The crop condition index has only been worse in one of the past 35 years at this stage of development.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Ollie Wilson.

Continue reading
  868 Hits
  0 Comments
868 Hits
0 Comments

Frontrunner - 14th April 2022

BLOG---Frontrunner-Post-Cover-Header

New crop European wheat futures rallied further this week and set new contract highs, reflecting trade concerns around the prospect of a long-term conflict between Ukraine and Russia. London November 2022 wheat futures briefly touched £295/t, almost double its initial trades and the contract low made in September 2020.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell.

Continue reading
  975 Hits
  0 Comments
975 Hits
0 Comments

Frontrunner - 8th April 2022

BLOG---Frontrunner-Post-Cover-Header

Grain markets have continued to see volatile trading and early in the week US wheat futures rallied following the first 2022 national crop condition and progress report from the United States Department of Agriculture (USDA). Winter wheat crops are in a particularly poor condition, with ratings as bad as they have ever been at this time of year, with the exception of the 1996 crop. Crops have suffered from prolonged dry conditions, expanding drought and storms in December.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Becca Russell. 

Continue reading
  869 Hits
  0 Comments
869 Hits
0 Comments

Frontrunner - 1st April 2022

BLOG---Frontrunner-Post-Cover-Header

Wheat markets continue to experience notable price volatility in response to developments in the conflict in Ukraine. US wheat futures fell sharply on Tuesday to their lower trading limit and to their lowest level since 1st March. This is in response to encouraging comments made in peace talks being held in Istanbul.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Ollie Wilson. 

Continue reading
  1061 Hits
  0 Comments
1061 Hits
0 Comments

Frontrunner - 25th March 2022

BLOG---Frontrunner-Post-Cover-Header

Global wheat markets experienced another week of notable price volatility in the wake of the continuing Russia-Ukraine conflict. European wheat futures struck new contract highs due to increasing fears that there will be no short-term end to the conflict and that there will be significant cuts to Ukrainian 2022 grain production.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Lucinda Redgate. 

Continue reading
  1276 Hits
  0 Comments
1276 Hits
0 Comments

Frontrunner - 18th March 2022

BLOG---Frontrunner-Post-Cover-Header

Wheat futures continued to see volatile trading this week as the trade reacted to the impact of the worsening conflict between Russia and Ukraine. There were early notable falls in prices with reports that peace talks between Russia and Ukraine were making some headway and that all five of Russia's Black Sea ports were operating normally for grain shipments.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report is read this week by marketing assistant, Faye Lee.

Continue reading
  1220 Hits
  0 Comments
1220 Hits
0 Comments

Frontrunner - 11th March 2022

BLOG---Frontrunner-Post-Cover-Header

The escalating conflict following Russia's invasion of Ukraine and subsequent fears for future wheat supplies from the Black Sea led to extreme volatility in the wheat market this week, resulting in new record highs for futures markets. Wheat futures rose to their highest on record this week, with Paris futures exceeding €400/t and London futures rising above £300/t, breaking the previous record set in 2008.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell.

Continue reading
  1198 Hits
  0 Comments
1198 Hits
0 Comments

Frontrunner - 4th March 2022

BLOG---Frontrunner-Post-Cover-Header

Wheat markets have been extremely volatile this week due to the escalating conflict between Russia and Ukraine. London old crop wheat futures hit a high, which was more than £50/t above last week's closing prices, and in doing so set a record high for the market. US Chicago Board of Trade (CBOT) futures climbed up by over 30% to their highest figure for 14 years, although remained below the all-time highest figure of $13.49/t which was set in February 2008.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Ollie Wilson.

Continue reading
  1447 Hits
  0 Comments
1447 Hits
0 Comments

Frontrunner - 25th February 2022

BLOG---Frontrunner-Post-Cover-Header

Russia's invasion of Ukraine this week triggered unparalleled price movements in commodity markets. US Chicago Board of Trade (CBOT) wheat futures posted gains of almost 20% on last Friday's close and, at their peak, were at their highest level since 2008. Fear, panic and speculative trade exaggerated futures price gains but the world's wheat importers have lost access to a primary supplier of wheat and corn as military action brought a halt to commercial shipping and Ukraine's ports shut down. Egypt's General Authority for Supply Commodities (GASC) held a tender to buy wheat on Thursday which highlighted the market chaos and uncertainty. There was only one offer from French exporters at a price including freight just below $450/t.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report is read this week by farm trader, Sophie Powell.

Continue reading
  1205 Hits
  0 Comments
1205 Hits
0 Comments

Frontrunner - 18th February 2022

BLOG---Frontrunner-Post-Cover-Header

World wheat markets have seen less volatile trading than they have over the past three to four weeks, but prices continue to be underpinned by the worsening situation in Ukraine. US President Biden said on Thursday that there was now every indication that Russia was planning to invade Ukraine in the next few days. Should this be the case, it seems likely there would be interruptions to wheat exports from the Black Sea region, which is a serious concern considering that Russia, Ukraine and Romania continue to dominate international tenders.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee. 

Continue reading
  1205 Hits
  0 Comments
1205 Hits
0 Comments

Frontrunner - 11th February 2022

BLOG---Frontrunner-Post-Cover-Header

The threat of conflict between Russia and Ukraine continues to generate price volatility in world wheat markets. The week started with an optimistic view from traders that a diplomatic solution to the tensions could be found following a seemingly successful meeting between French president Emmanuel Macron and Russian president Vladimir Putin. This triggered a bout of selling on futures markets on Tuesday.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell. 

Continue reading
  1057 Hits
  0 Comments
1057 Hits
0 Comments

We use cookies to improve our website and your experience when using it. Cookies used for the essential operation of the site have already been set. To find out more about the cookies we use and how to delete them, see our Cookie Policy.

OK