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Frontrunner - 4th March 2022

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.

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Frontrunner - 25th February 2022

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.

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Frontrunner - 18th February 2022

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. 

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Frontrunner - 11th February 2022

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. 

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Frontrunner - 4th February 2022

Following last week's notable volatility, wheat markets started this week making sharp loses and struggled to find any form of recovery. The threat of conflict between Russia and Ukraine remains and, should this be realised, wheat futures prices would rally again. Speculative longs have, however, been encouraged by progress with diplomatic solutions, with many having subsequently taken the exit, bringing futures prices down in the process.

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.

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Use your grain sampling data to plan the next cropping year

To be frank, a sample bag of grain doesn't really tend to excite many of us. Why would it? It's just a sample, it's minute in comparison to the hard graft that's come before it. But then – if we really think about it – doesn't that make it quite a significant thing?

That bag of grain represents at least a year of hard work; significant investments, the challenges you've overcome and the opportunities you've taken. When you consider the efforts that have gone into creating that bag of grain you realise that, if we are to be completely honest, it all comes down to that bag. The fact is that it isn't just grain in there. It's information, data, learnings, it's proof of things that worked well and sometimes things that didn't.

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Frontrunner - 28th January 2022

The world's wheat markets have seen significant price volatility this week. Fuelled by news reports of increased tension between Russia and the Ukraine, short covering and speculative buying extended gains on Chicago Board of Trade (CBOT) wheat futures by 6% by the close of Tuesday and took the market to its highest level since the end of November last year.

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.

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  1680 Hits

Frontrunner - 21st January 2022

World wheat markets rallied sharply this week, reacting to mainstream media reports of increasing tension between Russia and the Ukraine. This was highlighted by Chicago Board of Trade (CBOT) wheat futures which gained over 7% and, in doing so, recaptured all the losses they had made so far in 2022.

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.

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  2088 Hits

Frontrunner - 14th January 2022

World wheat prices have fallen again this week, which was highlighted by London wheat futures. Thisextended losses to the lowest level since the middle of last October. Paris wheat futures have led the way down with increasing concerns that the EU export pace is falling behind where it needs to be to meet export estimates.

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. 

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Frontrunner - 7th January 2022

Wheat markets made an uncertain start to 2022 but after some early small gains, trade futures prices posted some notable losses. This week, Chicago Board of Trade (CBOT) wheat prices fell to their lowest since mid-October and were followed by the Paris and London futures markets. Strong price support had been expected to continue to come from the world's major wheat importers – including Egypt, China and Algeria - as it had done throughout December. However, such support was found lacking this week.

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.

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Frontrunner - 17th December 2021

Wheat futures markets fell heavily mid-week, losing almost 4% of their value. A number of changing elements led to this long liquidation resulting in the loss of all the gains made last month and the new record high prices. The fast-spreading Omicron variant of Covid-19 presents a host of uncertainties but will almost certainly result in lower demand as the hospitality trade once again has to manage lost business. However, there are changing fundamentals that point towards a more relaxed world wheat balance sheet with an increased supply from some of the world's major wheat exporters.

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.

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Frontrunner - 10th December 2021

The United States Department of Agriculture (USDA) published its December World Agricultural Supply and Demand Estimates (WASDE) report on Thursday, presenting a bearish set of wheat data. World production is seen 2.61 million tonnes higher than last month at 777.89 million tonnes. Overall, wheat supplies are seen up 4.3 million tonnes with increased carry in from last season. Production volumes reflect recent official revised estimates which have seen many increases since figures were previously released.

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.

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  1975 Hits

Frontrunner - 3rd December 2021

Wheat markets have endured a volatile week of trading, as traders and speculators reacted to the uncertainty of the latest Covid-19 variant Omicron and what it might bring. Having peaked at nine-year highs last week, Chicago Board of Trade (CBOT) wheat futures lost over 10% of their value by close of business on Tuesday. This was due to a wave of panic selling, which caused prices to tumble. European wheat futures made similar losses from their record highs last week.

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. 

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  1974 Hits

Frontrunner - 26th November 2021

European wheat futures rallied further this week, striking new record-high levels as bullish drivers continue to influence markets. Adverse wet weather across east and southeast Australia has proved damaging for wheat crops with reports of sprouted grains and quality wheat consigned to the feed bin. The world's major milling wheat importers were hoping that the arrival of a predicted bumper crop in Australia would ease the tight supply of quality wheat and cap record prices but that may no longer be the case.

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.

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  2374 Hits

Frontrunner - 19th November 2021

European wheat futures struck new record highs in volatile trading this week. Markets continued to rise, reacting to further notable purchases from some of the world's major wheat importers while being mindful of the likelihood of further export restrictions for Russia, the world's primary wheat exporter. Algeria weighed in with a chunky purchase, thought to be up to 800,000 tonnes, having to pay up to $384/t including freight for shipment mid-December to the end of January.

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.

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  2044 Hits

Value of nitrogen: the importance of well-informed decisions

The word 'unprecedented' very accurately describes what has happened in the fertiliser world this year but even that doesn't seem enough to convey the exceptional rise in price and shortage of supply. In 25 years, I haven't seen anything like these price levels; to be honest I don't think I expected to see them in my working life and I still have a...

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Frontrunner - 12th November 2021

The United States Department of Agriculture (USDA) published its November World Agricultural Supply and Demands Estimate (WASDE) report early this week, bringing an end to a short spell of declining prices. A revised estimate for world wheat stocks was released, which was below average trade estimates. The USDA cut world wheat stocks from 277.18 million tonnes to 275.80 million tonnes. This revision changed the negative market sentiment. The profit-taking that was seen from the middle of last week reverted to bullish enthusiasm.

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. 

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  2435 Hits

Frontrunner - 5th November 2021

Wheat markets have continued to go from strength to strength. Future markets have moved sharply higher, with price gains of over 25% since early September. This rise has been driven by wheat production losses for major exporters Canada, US and Russia and by a loss of French quality amidst strengthening demand.

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

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Frontrunner - 29th October 2021

Wheat futures prices soared again this week, striking new contract highs. This is another record on the back of multi-year highs, driven currently by strong export demand and concerns for tightening world supplies. The Paris wheat market reached its highest level since March 2008 following the release of the EU weekly export data which shows exports have now reached 8.99 million tonnes. Official data for France dating back to July remains incomplete showing just 753,000 tonnes shipped. However, unofficial vessel counts suggest that almost 2.6 million tonnes have been loaded, which would take the total EU shipments to an unsustainable 11 million tonnes.

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

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  1939 Hits

Frontrunner - 22nd October 2021

China is the largest wheat producing country and the United States Department of Agriculture (USDA) estimates the country's total production this season will reach 136.9 million tonnes. However, Chinese government officials said this week that persistent heavy rain impacting the main wheat producing areas across the country has left planting at only 26% complete so far.

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. 

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  2042 Hits

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