Fast export pace maintained across EU Since their low point at the end of August, the world's wheat markets continued to move higher this week. This increase in prices was illustrated by the purchases Egypt made on Tuesday in their latest tender for shipment during the first half of November. Egypt bought 235,000 tonnes at an average of over $235/t...

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...

Australian drought continues while China offers US soy quota As Australia nears harvest, its market hit seven-week lows yesterday but there is zero export potential at this stage. On Friday, the National Australia Bank reported that the wheat crop could be capped at 15.5 million tonnes due to extreme dryness. US markets fell slightly as the EU and ...

In the UK, we don't have a domestic supply of artificial phosphorous fertiliser and so are therefore reliant on imported sources of nutrient phosphorus. Part of this means that we often experience some volatility in pricing, usually influenced by fluctuations in currency, available volume, country of origin and – more recently – political developme...

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...

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...

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...

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 ...

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...

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-...

WHEAT UK wheat prices bounceLondon 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 ...

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...

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...