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The General Authority for Supply Commodities (GASC) adopted a change to its method for wheat import purchases this week, entering into direct talks with exporters in preference to where it usually holds a general purchase tender. Egypt bought around 444,000 tonnes, adding to the 815,000 tonnes it bought last week, split between Russia with 214,000 tonnes, France with 170,000 tonnes and 60,000 tonnes from Romania. 

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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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. 

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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. 

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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.

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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. 

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. 

The current volatility of global markets and commodity prices is well documented; in recent weeks, there have been price swings that have never been experienced before. While it makes for some interesting market behaviours, knowing when to react in terms of buying and selling can be a challenge, particularly when prices are changing in a matter of minutes.

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.

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.

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. 

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 1^st 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. 

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. 

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. 

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. 

The ability to store grain can be a fundamental aspect of a crop marketing strategy, providing growers with the opportunity to sell for later movement.

Of course, this can only be successful when effective grain storage facilities and management plans are in place, as these are pivotal for safeguarding premiums and grain quality to lessen the risk of rejections and claims.