Frontrunner - 17th January 2020

BLOG---Frontrunner-Post-Cover-Header

US wheat futures markets continued to rally earlier this week, reaching 14-month highs ahead of the US and China signing 'phase one' of their trade deal. Bullish traders were encouraged by the view that, in its part of the agreement, China would make significant purchases of US agricultural products and start buying notable volumes of US wheat. 

However, the text of the agreement stated purchases would be made at market prices based on commercial considerations. In other words, wheat purchases would only be made if the wheat was needed and prices were favourable. 

Continue reading
  2102 Hits
  0 Comments
2102 Hits
0 Comments

Frontrunner - 10th January 2020

BLOG---Frontrunner-Post-Cover-Header

The world wheat market took a bullish turn over the festive season and that trend has continued during the first full trading week of 2020. The Chicago Board of Trade (CBOT) wheat futures hit highs not seen since last June. Politics, weather and trade have all combined to encourage prices to move higher.

US wheat futures found particular support when Donald Trump's administration confirmed that 'phase one' of the new trade agreement between the US and China would be signed on the 15th of January. Market bulls got very excited by this news, with rumours that China might fulfil its wheat import quota which would allow it to import up to 9.6 million tonnes of wheat in 2020. 

Continue reading
  2465 Hits
  0 Comments
2465 Hits
0 Comments

Frontrunner - 13th December 2019

BLOG---Frontrunner-Post-Cover-Header

Sterling reacted positively to the UK election result, gaining up to 2% versus the euro as the Conservatives secured a majority of at least 78 seats. However, this currency move is negative for wheat prices as it makes imports cheaper and exports more expensive. Wheat prices have had to adjust to counteract this, with London futures easing lower on Friday morning. 

Nevertheless, the fall in UK prices was limited as European and US markets moved higher. US wheat futures rallied on more positive news over the US trade dispute with China. 

Continue reading
  2050 Hits
  0 Comments
2050 Hits
0 Comments

Polysulphate fertilisers could give pulse growers a spring boost

Fert-spreading

Sulphur is a key component of successful crop production; as important as nitrogen when it comes to planning nutrient applications. A multi-nutrient sulphate fertiliser range from ICL called Polysulphate is one that we've recently introduced to our range and is something I am talking about to many of the growers I advise.

Two new Polysulphate products, PKpluS and PotashpluS are especially of topical interest to the increasing number of farmers considering spring pulses on the back of dismal autumn weather. 

Continue reading
  2612 Hits
  0 Comments
2612 Hits
0 Comments

Frontrunner - 6th December 2019

BLOG---Frontrunner-Post-Cover-Header

US wheat futures from the Chicago Board of Trade (CBOT) put on an impressive performance at the end of last week. Last Friday, they jumped the equivalent of £5 per tonne and saw overall gains of 10% since mid November. The sharp move was allegedly brought about by Southern Hemisphere crop problems – particularly comments from Argentina suggesting that the main wheat production areas would see 37% yield losses. 

However, these gains were not sustainable. US wheat quickly became uncompetitive in the global export market and CBOT futures have now all but lost last week's gains.  

Continue reading
  2121 Hits
  0 Comments
2121 Hits
0 Comments

Frontrunner - 29th November 2019

BLOG---Frontrunner-Post-Cover-Header

This week French wheat futures rallied to highs not seen since mid July. The strong EU export pace continued to progress and has now reached 10.77 million tonnes – 3.7 million tonnes ahead of last year. 

Slow farmer selling and ongoing wet weather conditions which are delaying the French corn harvest and winter wheat planting are both contributing factors to the rise in wheat prices. However, the French are still enjoying more favourable planting conditions than we are in the UK. By 25th November, wheat drilling in France had advanced 6 points during the week to 80% complete, but the crop condition fell 3 points during the week to 75% rated 'good' to 'excellent'.  

Continue reading
  2243 Hits
  0 Comments
2243 Hits
0 Comments

Frontrunner - 22nd November 2019

BLOG---Frontrunner-Post-Cover-Header

Official figures from France illustrate the issues that the current weather pattern is having on 2020 harvest potential in the west of Europe. In its weekly update on Friday, FranceAgriMer advised that French farmers had only advanced their winter wheat planting by 3% to 74% complete, compared to 97% this time last year. Additionally, there was a sharp drop in the crop ratings, with 78% seen as 'good' or 'excellent' which is down 6 points on the week and 4 points on last year.

The UK enjoyed a few dry days earlier this week, allowing land work to resume in some areas. Winter wheat drilling has progressed where conditions have allowed, whilst vast areas of the worst rain-affected counties have remained sodden. 

Continue reading
  2228 Hits
  0 Comments
2228 Hits
0 Comments

Frontrunner - 8th November 2019

BLOG---Frontrunner-Post-Cover-Header

Concern over new crop wheat planting has driven prices this week. With an estimated winter wheat planted area of just 50%, compared to 95% this time last year, new crop wheat values moved up £7/mt.

Old crop wheat values have followed the new crop as farm selling remains light and domestic consumers still need plenty of cover for the balance of the crop year. 

Continue reading
  2437 Hits
  0 Comments
2437 Hits
0 Comments

Frontrunner - 1st November 2019

BLOG---Frontrunner-Post-Cover-Header

Brexit uncertainty and winter drilling delays in the UK continue to add volatility to wheat markets. Last weekend's Brexit extension significantly widened the window for tariff-free exports to the EU, which was seen by some as a bullish flag. 

In addition to this, the persistent deluge of rainfall continues to delay the drilling campaign with progress varying from one location and land-type to the next, so farmer selling of 2019 and 2020 crop has naturally slowed. As a result, London futures traded to £148.55 midweek which, along with new crop futures, was their highest level since mid-August.  

Continue reading
  1979 Hits
  0 Comments
1979 Hits
0 Comments

Frontrunner - 25th October 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Markets treading water Wheat markets have moved sideways this week, lacking any fresh news. They are supported by the strong EU and Black Sea export pace, as well as mixed fortunes for winter drilling. By the end of last week, this season's EU wheat exports had exceeded 8 million tonnes, compared to 5.7 million tonnes this time last year...
Continue reading
  1997 Hits
  0 Comments
1997 Hits
0 Comments

Frontrunner - 18th October 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Adverse weather supports UK prices The Agriculture and Horticulture Development Board (AHDB) published their first provisional UK wheat supply and demand estimates for the 2019/20 season this week. The balance sheet contains the first production estimate from the Department for Environment, Food & Rural Affair (DEFRA) – 16.283 million ton...
Continue reading
  2065 Hits
  0 Comments
2065 Hits
0 Comments

Frontrunner - 11th October 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT USDA dampens grain markets The United States Department of Agriculture (USDA) published their October world supply and demand estimates on Thursday. Trader focus was on an expected cut in US corn yields given the delayed planting, plant maturity and harvest progress. However, the USDA actually increased yield albeit marginally on the previous...
Continue reading
  2095 Hits
  0 Comments
2095 Hits
0 Comments

Frontrunner - 4th October 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Exports This week, UK wheat markets have continued to focus on export trade flows in the south and east coast ports, with the north and west seeing limited fresh consumer demand. The port pull remains strong, with lorry freight significantly under pressure as vessels continue to arrive for wheat (and barley) ahead of the potential Brext deadl...
Continue reading
  2152 Hits
  0 Comments
2152 Hits
0 Comments

Frontrunner - 27th September 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Wheat prices continue to rise Demand for wheat supplies to UK ports saw prices rally to a near six-week high on Friday. This performance was matched by French wheat futures which were reacting to the fast EU export pace and a continued flow of tenders held by the world's major importers. Helped by continued euro weakness which hit a 28-month ...
Continue reading
  2314 Hits
  0 Comments
2314 Hits
0 Comments

Frontrunner - 20th September 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Big crops get bigger? There is an old saying that 'big crops get bigger' and it seems that it is true. This week well respected analyst, Strategie Grains' September report increased the size of the 2019 EU-28 wheat crop again to 144.5 million tonnes. This is 1.6 million tonnes up on the estimate they made last month and a hefty 17.6 million t...
Continue reading
  1987 Hits
  0 Comments
1987 Hits
0 Comments

Frontrunner - 13th September 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Latest USDA World Supply and Demand Report review The United States Department of Agriculture (USDA) published their September World Supply and Demand estimates on Thursday; it came with minor changes from the previous report and therefore no surprises. There were small cuts in world production for both wheat and corn, but increases in carry-...
Continue reading
  2006 Hits
  0 Comments
2006 Hits
0 Comments

Frontrunner - 6th September 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT UK wheat prices bounce London wheat futures, together with French wheat futures, fell to new contract lows early this week under the weight of high yielding crops. However, the UK market subsequently enjoyed a £5 per tonne rally and moved higher by an unexpected wave of short covering. London futures were technically oversold and UK wheat was...
Continue reading
  2265 Hits
  0 Comments
2265 Hits
0 Comments

Frontrunner - 30th August 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT UK wheat harvest progress As the UK wheat harvest progressed rapidly this week and pushed through 80% complete, the Agriculture and Horticulture Development Board (AHDB) estimated production might breach 16 million tonnes, the highest since 2015. They report yields of 8.8 to 9 tonnes per hectare which is 6 to 8% above average. However, with f...
Continue reading
  2075 Hits
  0 Comments
2075 Hits
0 Comments

Frontrunner - 23rd August 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Wheat prices continue to fall US, French and UK wheat futures fell further this week, with all markets hitting new contract lows. Following numerous spells of inclement weather in recent weeks hampering the wheat harvest, much of the UK has been more settled in recent days. This has allowed combining to progress rapidly and, fortunately, nota...
Continue reading
  2148 Hits
  0 Comments
2148 Hits
0 Comments

Frontrunner - 16th August 2019

BLOG---Frontrunner-Post-Cover-Header
WHEAT Heavy UK wheat crop weighs on prices London wheat futures fell to new contract lows this week as our market tried to find demand. Yields for most of the UK wheat crops harvested so far have been significantly higher than most expected, above the five year average, which points towards a sizeable exportable surplus. Recent sterling weakness ha...
Continue reading
  2672 Hits
  0 Comments
2672 Hits
0 Comments

We use cookies to improve our website and your experience when using it. Cookies used for the essential operation of the site have already been set. To find out more about the cookies we use and how to delete them, see our Cookie Policy.

OK