World markets: US wheat futures continued to slide yesterday. The fund sell off that started with the USDA report last Wednesday night has continued into the start of this week, keeping the negative tone in wheat markets. The trade war between the US and China has returned to the headlines, as President Trump imposes new tariffs on the equivalent o...

WHEAT  USDA report sets a bearish scene; Wednesday's much anticipated USDA report shocked the trade, with significant increases to US corn yields well above the average trade estimates released before the report. Global corn production was also increased to 1,069 million tonnes. Although not directly related to wheat prices, this 35 million to...

World markets: US wheat dropped sharply after yesterday's United States Department of Agriculture (USDA) report; corn numbers were the biggest driver in grains and the numbers were very bearish. US corn yields were raised to 181.3 bushels per acre which was well above the trade's estimates. Eight states were seen as producing record yields and this...

World markets: US wheat started the week stronger yesterday, supported by a downgrade to the Australian crop from the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) and more speculation about possible Russian export restrictions. US exports are currently running 31% down from last year's pace – a restriction to Russi...

WHEAT  Wheat prices on the slide London wheat futures lost £8 per tonne this week, slipping to seven-week lows as the bullish rivers ran dry. Russia chose not to introduce any restrictions to their wheat exports and this has been the catalyst for a wave of long liquidation on world futures markets. However, it is likely that this issue will re...

World Markets: The US was closed yesterday for their Labor Day holiday, but traded lower on the overnight session following news from Russia that counteracted last week's ideas of export restrictions. The Russian Ministry of Agriculture said yesterday that they do not consider it necessary to introduce export duties or restrictions but they are con...

World Markets: US wheat started last week lower, pressured by funds exiting long positions in wheat. However, midweek saw some support come back into the market, lifting it to a higher close over the week. The lift came from Russia's announcement to cap wheat exports at 25 million tonnes and an all-grains total of 30 million tonnes. The USDA curren...

WHEAT  Price shift predictions The decline in prices over the past fortnight has been halted this week, with UK levels re-bounding some £5/t at the farm gate. A finely balanced UK supply (alongside ongoing concerns about how the global flow of wheat will be maintained from Russia, the current cheapest origin) continues to cause nervousness amo...

World Markets US wheat has been falling sharply this week. Yesterday, losses were smaller but direction was still downwards. US funds had built up significant long positions in Chicago wheat and have been selling heavily to reduce these longs. Australia had some rain over the weekend which can only be a good thing, although there are mixed reports ...

WHEAT  UK prices under further pressure London futures fell a further £8/t this week on harvest news and the prospect of heavy imports in the coming months. Until recently, the UK was pricing at import parity in order to balance a tight supply situation and the weight of this is now being felt. Add to this the predictable pressure that comes w...

WHEAT  Politics helps wheat prices jump higher Wheat prices have recently enjoyed a major price rally gaining £40/t since the middle of June. Markets have been driven higher by adverse weather impacting on crops and cutting output for most of the world's major exporting countries. However, the USDA report last week triggered a sell off and UK ...

 World Markets US wheat fell yesterday following the negative impact of Friday's bearish USDA report. The USDA was expected to reduce global wheat production significantly in light of numerous downgrades from other regions over recent weeks. In the end, global wheat production was revised on Friday evening but only down by 6.6 million mt. Aust...

WHEAT  Supportive markets Wheat markets continued the supportive tone for the early part of the week, fuelled by further concerns over production in various regions in the world. Australia is the latest country to further reduce its likely output, with some suggestions of this year's crop being nearer 16 million tonnes versus 21 million last y...

This blog was first featured as an article in the August issue of Three Counties Farmer Since beginning these monthly columns back in March, I think we've experienced almost every weather condition Mother Nature could throw at us. At times I've written this while watching the snow settle ever deeper and the winds get bitterly cold. I've witnessed w...

World Markets US wheat closed slightly lower yesterday, seeing some profit after the recent strong gains. The US winter wheat harvest was put at 90% complete in this week's crop update and spring harvest 13% cut, with ratings down 4% on last week at 74% good to excellent. Corn ratings were seen to decline by 1% to 71% good to excellent, versus 60% ...

WHEAT  Buoyant UK market Another volatile week in the UK grain trade saw November futures hit new contract highs of £195 on Thursday, fuelled by crop issues globally. As a result, we saw a good level of farmer selling for both 2018 and 2019 crop at levels well above the cost of production. Wheat harvest nationally lies at around 40% complete, ...

World markets US wheat continued its rally yesterday, taking gains up to circa £22/t from the lows of July. Throughout the month of July crop concerns around the world have grown considerably, adding fresh fuel to the fire and driving markets higher. Politics are still in the frame, with some rumours circulating that the US and China could be close...

WHEAT  Volatile UK wheat prices In reaction to further cuts to European wheat crop estimates, speculative trading and consumer short covering lifted the wheat market sharply higher this week. London wheat futures rallied to new contract highs on Thursday, with the November 2018 contract trading above £190.00/t.This was almost £15/t up on the p...

WHEAT  UK prices firm again Domestic wheat prices firmed a further £3-£5 this week, despite harvest progressing well across Europe. In a year when UK wheat output is forecasted at or below 14 million tonnes, we will be relying more heavily on imports and therefore price movements around Europe affect us more than normal. Crop reductions in som...

 This blog was first featured as an article in the July issue of Three Counties Farmer For many arable farmers, July is always a month of preparation and anticipation. The latter is particularly true for harvest and involves waiting for oilseed rape and barley to be fit enough to cut, calculating yields and quality, cleaning out grain sheds, s...