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Market report - 6th February 2019

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  UK – Market remains flat despite supported global markets UK feed wheat has traded in a narrow range for a month now (£5/t) and while our domestic market is flat, it hides what is happening around the globe. Extreme weather and significant export sales have supported global markets but any follow-on to the UK market has been hampered by a ri...
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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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Market report - 31st January 2019

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UK grain prices are flat as market forces work against one another UK wheat values remain stuck in a narrow range as two major factors continue to cancel each other out. Sterling has firmed from £1.11 to £1.15 versus the euro since 10 th January and this should have caused a loss for UK wheat values. Instead, EU markets have been given a lift by co...
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Frontrunner - 25th January 2019

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WHEAT Firm pound pushes old crop prices lower Brexit uncertainty continues to fuel huge shifts in the value of the pound. This week the pound appreciated significantly against a host of other currencies reaching 1.16 against the Euro, a level which was last seen in May 2017. Domestic demand for old crop remains strong, but if the UK has an exportab...
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Mid-week market report - 23rd January 2019

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World markets were quiet on Monday as US trade closed for Martin Luther King Jr Day. This coupled with the continued government shutdown in the US means that there is still no January report from the US Department of Agriculture (USDA). This makes for slim reading of key export data which has significant influence over the old crop market at this t...
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Frontrunner - 18th January 2019

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WHEAT Lost opportunity Domestic wheat markets have given back all of this month's gains during this week. Milling markets have also softened, with notable sellers pressurising the premiums by around £2/t versus feed as markets transit from being bid for weeks to offered. It seems that political uncertainty continues which is putting people off maki...
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Frontrunner - 11th January 2019

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WHEAT International trade This week we have seen significant international trade, with North African countries making sizeable wheat purchases for delivery during February and March. Initially, Algeria confirmed they were buying 550,000 tonnes of optional origin wheat. This lifted European prices, as the French have supplied over 80% of Algerian im...
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Frontrunner - 4th January 2019

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WHEAT Global markets US and EU markets started the new year trading firmer, led by stronger US wheat prices which are now able to compete against cheaper origins with the prospect of increasing exports. However, the Russian Agricultural Ministry have increased wheat production figures by two million tonnes to 72 million. This means that despite hig...
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New Year's resolutions

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This blog was first featured as an article in the December issue of Three Counties Farmer : ​ By my own admission, I don't have the best track record of sticking to New Year's resolutions. Whilst they are (in theory) usually easy to achieve, they aren't necessarily life changing and it would be a fairly safe bet to say that, by April, I'll have bro...
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Frontrunner - 14th December 2018

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WHEAT World wheat prices move higher A number of factors have helped send world wheat prices higher this week. Increasing optimism over the improving US/China trade situation provided an initial tonic as US weekly export sales hit a season high of 754,000 tonnes.The fast pace of Russian wheat exports is also making an impact with supplies proving h...
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Frontrunner - 7th December 2018

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WHEAT UK markets trade a narrow range Domestic and futures markets traded in a narrow range this week with the benchmark LIFFE finding a level around £175/t for May delivery. Physically, grain consumers continue to take cover in a marketplace with very little farm and merchant grain offered, which is lending support to prices.However, the uncertain...
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Frontrunner - 30th November 2018

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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...
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Frontrunner - 23rd November 2018

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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...
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Frontrunner - 16th November 2018

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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...
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1480 Hits
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Frontrunner - 9th November 2018

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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...
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Not all grain pools are the same

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Selling via pools helps to take away some of the risk associated with trading in an open market. They can form a key part of your grain marketing strategy and are a sensible option at a time when so many factors are impacting prices. Committing to a grain pool, however, requires some considerable thought. Before you enter into a contract with a mer...
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Manage your risk in a post-Brexit marketplace

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For many farmers, November is often the month for completing odd jobs around the farm that were likely neglected throughout harvest and the drilling season. Whether it's rebuilding the neighbour's fence or straightening the farm security gate (flat bed trailers can be dangerous in the wrong hands – ask my boss from my student days), it all needs do...
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Frontrunner - 2nd November 2018

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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 ...
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Frontrunner - 26th October 2018

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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, ...
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1560 Hits
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Market report - 25th October 2018

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World markets US wheat futures have traded down to six-week lows. This is partly due to poor US export figures but, for the most part, is lead by politics. A two-month high in the US dollar is weighing on US wheat, as are falling equity and crude oil markets. A number of weather issues have been impacting grain markets but these are now well accoun...
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1360 Hits
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