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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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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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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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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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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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Frontrunner - 10th May 2019

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WHEAT Weather and politics send markets lower Changing weather conditions brought rain to the UK and the near continent this week. This was seen as beneficial for wheat crops and triggered a fall in French and London wheat futures, pushing them down to fresh contract lows.In recent weeks, new crop wheat prices have traded in a narrow range, support...
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Frontrunner - 3rd May 2019

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WHEAT Offered market as sellers exit Old crop markets have slipped lower during the week as more abundant supplies of both feed wheat and quality wheat seek demand. Buyers have taken the majority of their old crop cover now, however, the transition month of July to new crop could still prove interesting. Confidence grows that the UK balance sheet w...
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Frontrunner - 26th April 2019

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WHEAT UK demand dwindling Old crop futures and physical prices continued to feel the pressure this week as buyers proved hard to find. Consumer buyers remain absent from the market and their hand-to-mouth approach seems to be working, as May LIFFE futures lost another £3 since returning from the Easter break. We have now entered the first notice pe...
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Frontrunner - 18th April 2019

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WHEAT Rising Russian wheat crop estimates weigh on markets 2019 harvest wheat crop prospects for one of the world's most influential producers are improving according to the latest publications seen from analysts this week. Favourable autumn conditions and a kind winter coupled with uninterrupted spring drilling have seen the wheat area increase by...
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Frontrunner - 12th April 2019

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WHEAT USDA publish a bearish report The USDA published their April World Supply and Demand report on Tuesday afternoon and, as expected, it held bearish data – particularly for corn. World corn production jumped six million tonnes, with increases seen for most of the major producers. Argentina, Brazil and Mexico were up, reflecting the favourable g...
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Frontrunner - 5th April 2019

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WHEAT UK markets look to new crop A week is a long time in politics and it seems even longer in the grain trade with old crop markets fading again this week. Remaining markets are focused on sourcing final July cover; the last stop for consumers before significantly cheaper new crop supplies are available. Attention is now turning to new crop for c...
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Frontrunner - 29th March 2019

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WHEAT UK wheat prices flatten Domestically, futures and delivered markets remain thin with a large portion of the old-crop market still to play out. Northern feed wheat premiums remain elevated to encourage the trade-flow of grains from further south but, in the main, consumers remain subdued with a 'hand-to-mouth' approach to buying. This said, lo...
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Frontrunner - 22nd March 2019

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WHEAT Spring is the season of risk Market support has held in wheat markets since the lows of the previous week. Speculators have large bearish positions laid on in grains for crops that are still very exposed to adverse planting and growing conditions as dormancy breaks. The strength of rebound in wheat futures has been largely led by corn as mark...
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Frontrunner - 15th March 2019

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WHEAT Turbulent wheat markets The world's wheat markets started the week extending their recent downward trend. Speculative fund selling took the US CBOT wheat futures to contract lows on Monday, pulling European and UK wheat futures lower too. Their motivation comes from slow US wheat export pace and expectations for a bounce back in production fo...
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Frontrunner - 8th March 2019

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WHEAT UK old crop sinks lower The absence of any significant consumer demand facilitated a further £5/t drop in futures and delivered prices this week. To some extent, this season the UK wheat grower has been sheltered slightly from rock-bottom global prices because of currency but UK markets followed the rest of the world lower this week. Due to t...
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Frontrunner - 1st March 2019

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WHEAT Negative world markets World markets are currently showing little signs of recovery whilst major exporters compete to win upcoming tenders. Coupled with this, we're also seeing non commercial funds willing to sell wheat lower given the promising outlook of wheat production for 2019. UK finding some support UK markets found support this week f...
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Frontrunner - 22nd February 2019

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WHEAT Weak wheat markets Wheat markets made notable losses earlier this week, led lower by US CBOT futures that hit contract lows. By close of business on Wednesday, CBOT losses amounted to 6% and this was partly attributed to US wheat being uncompetitive and missing out on recent export trade. Syria and Bangladesh bought 200,000 tonnes and 50,000 ...
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Mid-week market report - 20th February 2019

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Global markets weaken World wheat markets started notably weaker this week, led lower by the US CBOT wheat futures that dropped to a 13-month low yesterday. The US is failing to secure sufficient trade to help them meet export targets and they need to be more competitive. This was highlighted by recent tenders where both Syria and Bangladesh opted ...
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Frontrunner - 15th February 2019

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WHEAT Global prices move lower Chicago wheat futures traded at their lowest level since the start of 2019 yesterday and Kansas Corn was no different. Both markets were forced lower by disappointing export data. US wheat sales currently sit 8% behind this time last year as they've struggled to compete with cheap Russian wheat. Matif also closed €3/t...
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Frontrunner - 1st February 2019

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WHEAT Slow UK trade The domestic wheat market slowed to a crawl this week. A lack of fresh news, combined with sterling strength, saw both old and new crop prices slip lower.Despite Defra's estimate showing a surplus on the UK balance sheet, the old crop premium to new crop remains resolute. Spot feed wheat is trading at £25/t above harvest prices....
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