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...

​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...

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...

WHEATWeak 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 t...

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 ...

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...

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....

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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 ...

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, ...