WHEAT Security of supply in December Domestic wheat markets remain focused on securing short term supply through December as logistics have become a constraint for this period. This has created a short term demand, however post Christmas where consumer cover remains ample and Farmers return from the break are likely to find a well supplied and subd...

WHEAT Encouraging price rally for UK wheat After an initial bearish start to the week, UK wheat prices eventually staged an impressive four day rally. Helped on by the weaker sterling and higher continental future prices, London futures gained £4 per tonne in a market was minimal trading activity. Consumers have good cover and there is little to ju...

WHEAT Global markets less volatile Wheat markets traded within a narrow range this week, with global prices closing either side of unchanged. As harvest progresses in the Southern Hemisphere, poor weather continues to cause uncertainty around crop quality. The forecast is poor for Argentina over the next seven days with 84% of the crop still to har...

WHEAT 'Bears' 1 vs. 'Bulls' nil this week World markets have had to digest another USDA WASDE data release that was not bullish for wheat markets. Reductions in southern hemisphere crops were smaller than anticipated and the feed grain complex was boosted massively by China's unexpected stock find of 148 million tonnes. The grains complex feels hea...

WHEAT Russian rumours rumble on The world's leading wheat exporter has played a major part influencing prices this season. Wheat yields slashed by adverse weather saw their crop drop more than 15 million tonnes on last year's record 85 million tonnes. In August, rumours of a possible Russian export ban sent the world's wheat future markets soaring ...

WHEAT Ensus announcement weighs on prices in the North On Monday, CropEnergies announced that their Ensus bioethanol plant in Teeside would pause production from the end of November "due to the difficult market conditions". With the plant having historically used a combination of both wheat and maize the news came as a shock to the UK grain trade, ...

WHEAT Quiet markets drift Fresh market features have been lacking this week and, helped by firmer sterling, UK wheat prices have dropped to a four-week low. Consumers have good cover through to the new year and with port stores bulging with imported wheat and maize, any short term price improvement looks unlikely. Bull traders continue to look to R...

WHEAT UK markets UK wheat markets have traded defensively this week. Demand continues to be serviced by the market in an orderly fashion, keeping prices and milling premiums subdued. This comes even as the pace of farm gate selling slows significantly, in part due to the ideal drilling conditions this week. DEFRA figures The market has now had time...

WHEAT  Demand for UK feed narrows premiums Consumer demand for feed wheat leant support to UK prices this week, with futures and physical grain trading up £4-£5 over the five days. Strong demand from the pig and poultry sectors, as well as ruminants, pushed some feed compounders to consider current lower prices as a 'buy.' Pitched against a we...

WHEAT  Slow trade This week's wheat market has moved in a very narrow trading range, seeing no fresh features of note giving any particular price direction. The USDA will publish their quarterly stocks report late this afternoon after we go to print, which is expected to reinforce bearish carry out figures for US grains. Final 2017/18 UK balan...

WHEAT  Market reactions UK markets fought back this week with £5/t gains on London wheat futures, reversing the downward trend seen for the majority of the past month. Global markets galvanised support from the less-than-ideal harvesting conditions in the Russian spring wheat area, as well as dry and unseasonably cold temperatures hitting the ...

WHEAT  USDA report sets a bearish scene; Wednesday's much anticipated USDA report shocked the trade, with significant increases to US corn yields well above the average trade estimates released before the report. Global corn production was also increased to 1,069 million tonnes. Although not directly related to wheat prices, this 35 million to...

WHEAT  Wheat prices on the slide London wheat futures lost £8 per tonne this week, slipping to seven-week lows as the bullish rivers ran dry. Russia chose not to introduce any restrictions to their wheat exports and this has been the catalyst for a wave of long liquidation on world futures markets. However, it is likely that this issue will re...

WHEAT  Price shift predictions The decline in prices over the past fortnight has been halted this week, with UK levels re-bounding some £5/t at the farm gate. A finely balanced UK supply (alongside ongoing concerns about how the global flow of wheat will be maintained from Russia, the current cheapest origin) continues to cause nervousness amo...

WHEAT  UK prices under further pressure London futures fell a further £8/t this week on harvest news and the prospect of heavy imports in the coming months. Until recently, the UK was pricing at import parity in order to balance a tight supply situation and the weight of this is now being felt. Add to this the predictable pressure that comes w...

WHEAT  Politics helps wheat prices jump higher Wheat prices have recently enjoyed a major price rally gaining £40/t since the middle of June. Markets have been driven higher by adverse weather impacting on crops and cutting output for most of the world's major exporting countries. However, the USDA report last week triggered a sell off and UK ...

WHEAT  Supportive markets Wheat markets continued the supportive tone for the early part of the week, fuelled by further concerns over production in various regions in the world. Australia is the latest country to further reduce its likely output, with some suggestions of this year's crop being nearer 16 million tonnes versus 21 million last y...

This blog was first featured as an article in the August issue of Three Counties Farmer Since beginning these monthly columns back in March, I think we've experienced almost every weather condition Mother Nature could throw at us. At times I've written this while watching the snow settle ever deeper and the winds get bitterly cold. I've witnessed w...

This blog was first featured as an article in the August issue of Three Counties Farmer In the Three Counties we experienced an extremely dry run up to harvest, which quickly turned our crops and accelerated their final stages. However, compare these UK extremes to the likes of Australia and it quickly put things into perspective. They have suffere...

WHEAT  Buoyant UK market Another volatile week in the UK grain trade saw November futures hit new contract highs of £195 on Thursday, fuelled by crop issues globally. As a result, we saw a good level of farmer selling for both 2018 and 2019 crop at levels well above the cost of production. Wheat harvest nationally lies at around 40% complete, ...