Disastrous planting conditions in the US continue to hamper progress. As of Monday, the reports were of 69% planted compared to the 96% average. It is difficult to quantify total crop losses until the final drilling dates and these vary in each state, however, there is already talk of 8 million acres of Prevented Planting insurance already claimed....

Tomorrow marks the last trading day for May London futures and, over the last few weeks, we've seen a large volume of futures tendered right the way from Edinburgh to Kent. As such, the added weight of physical grain has pushed prices around £10 lower since the start of the month. Consumers are well aware of this and are therefore in no rush to cov...

The USDA's first stab at 2019/20 world wheat and corn balance sheets last Friday indicated a boost of supplies and extended the recent weak price trend. Early this week, French and London wheat futures hit new contract lows as markets reacted to the USDA forecasts for record world wheat and corn crops next season; put at 777 million tonnes and 1,17...

UK feed wheat markets remain under pressure after Friday's sharp £3.80 futures sell-off. May LIFFE hasn't traded since then and open volume sitting on the exchange is around 60,000t, which could add further pressure to old crop prices if tendered. Consumer demand is understandably quiet as markets have a decidedly bearish feel to them and, for any ...

Wheat markets took a distinctly bearish turn yesterday, with EU markets and London futures led lower by the US wheat market. The winter wheat tour got underway in the US Southern Plains and saw good looking wheat crops with strong yield potential. Yields are estimated to be well above last year and at three year highs. CBOT Hard Red Winter wheat fu...

While many of us enjoyed the Easter weekend weather, both winter and spring crops were looking very thirsty as the British Isles broke temperature records. However, with rain now in the forecast and the weather pattern changing both here and in much of Western Europe, wheat futures markets started the working week with a bump lower. Concerns that t...

The USDA published their April World Supply and Demand report yesterday and, as expected, it held bearish data – particularly for corn. World wheat production was put marginally lower at 732.87 million tonnes but falls in consumption saw year end stocks increase by five million to 275.61 million tonnes. This is just six million tonnes down on the y...

The UK market continues to be in a state of confusion regarding our wheat crop size, and Brexit. As we enter the final quarter of the cropping year, there is no clarity on the UK wheat crop size. Estimates vary, from DEFRA projecting an area equating to a 13.95 million tonne crop, to the Basic Payment Scheme (BPS) survey suggesting a 100,000 hectar...

Global markets are increasingly focused on weather patterns and the size of the US fund short for fresh direction. Widespread flooding and below average temperatures in the US plains and Midwest remains a flag for growing crops, while warmer forecasted weather could compound the problem as snow-melt will add to ground moisture levels. Conversely, s...

World wheat markets continued to move lower at the beginning of the week, extending the trend we have seen since the beginning of 2019. Speculative funds took their short positions to over 120,000 contracts in US wheat futures markets, leaving them technically very oversold and due a bounce. The funds seem driven by the poor US wheat export pace an...

​Most of the farmers I know keep a watchful eye on commodity prices and use a variety of methods to do so. The method chosen is down to personal choice; it could be speaking to a farm trader, scrolling through Twitter or checking online via the farming press. Making that proactive choice to check; 'Has the grain market gone up, down or even remaine...

​Wheat For the first time in a while, futures markets closed yesterday slightly firmer in the UK, EU and USA despite nothing fundamentally bullish to fuel the support. In the USA, widespread freezing conditions and snow continue to cause logistical issues for the transportation of grains which has increased nearby delivered prices. However, crops u...

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 ...

Friday's USDA report threw us no real surprises in terms of global supply and demand. As a result, the market's focus returned to cash wheat prices around the world. It feels as though the pace of Russian export business is beginning to dwindle, with origins such as the USA, Ukraine and even France beginning compete. This may go some way to making ...

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 10th January and this should have caused a loss for UK wheat values. Instead, EU markets have been given a lift by con...

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...

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...

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 broke...

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...

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...