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By the 7^th August, EU wheat exports reached 2.49 million tonnes; this is marginally ahead of last year. However, Brussels state the data is incomplete and private analysts see shipments 30% ahead of last year. French shipments alone are thought to be at least half a million tonnes understated.  . Major world wheat importers have all sourced a significant proportion of their purchases from freely available EU supplies due to the continued challenges and restrictions on Ukrainian and Russian origins.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell. 

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This blog is the third and final to be published as part of our Environmental Land Management blog series. In the previous blog, we looked at what you will need to do if you decide to enter your land into the arable and horticultural soils standard of the Sustainable Farming Incentive (SFI). You can read it here.

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One grain ship leaving a Ukrainian Black Sea port was sufficient for world wheat futures markets to come under notable selling pressure this week. US Chicago Board of Trade (CBOT) wheat fell to a six-month low.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report is read this week by marketing assistant, Faye Lee.

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This week, the world's wheat futures markets have recovered all the losses they took last Friday. Prices then fell sharply due to Russia and Ukraine signing a deal with Turkey and the United Nations (UN). The deal set out to ship trapped wheat and other grains and oilseeds from Ukraine's Black Sea ports.  However, the market is now reacting to the reality that shipping through these ports will, for some time, be a slow process as there are challenges in securing the resources needed to resume operations whilst the hostilities with Russia continue.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Lucinda Redgate. 

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After weeks of talks and negotiations, Turkish officials said that a deal to allow safe Ukrainian grain exports from Black Sea ports would be signed at a ceremony in Istanbul on Friday 22^nd July 2022. Russia and Ukraine are reported to have reached agreement with the UN and Turkey although at the time of writing there has been no official confirmation from either Russia or Ukraine and the details of the agreement have not been released.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

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On Tuesday, the United States Department of Agriculture (USDA) published its July updates to its World Agricultural Supply and Demands Estimates (WASDE) report. Revisions were relatively mild but continued long liquidation on futures markets was encouraged by increases to production estimates and stocks for US wheat and corn, as well as cuts to world demand figures for each commodity resulting in a higher stock than the previous month.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell.

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With harvest just beginning, now seems a sensible time to draw breath and assess the season before harvest gets in full swing followed in short order by establishing next year's crops.

And what a season it's been. Yes, there have been weather events to talk about, especially the dry April and for some also the first half of May and most of June, but these pale in comparison to the economic impacts we've seen in the last 12 months.No more so than in my world of fertiliser, where an initial new season price for AN back in June 2021 - at 81p/kg N (£280/t) - was considered by some to be too expensive, only to then rise dramatically during the season to an eye watering £2.68/kg N (£925/t) at the peak.

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The General Authority for Supply Commodities (GASC) adopted a change to its method for wheat import purchases this week, entering into direct talks with exporters in preference to where it usually holds a general purchase tender. Egypt bought around 444,000 tonnes, adding to the 815,000 tonnes it bought last week, split between Russia with 214,000 tonnes, France with 170,000 tonnes and 60,000 tonnes from Romania. 

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Ollie Wilson. 

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This blog is the second to be published as part of our Environmental Land Management blog series. Our first entry covered some of the common questions we get from growers about the Environmental Land Management schemes (ELMs) and the Sustainable Farming Incentive (SFI) specifically, as well as opportunities linked to Countryside Stewardship. You can read it here.

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Oilseed rape crops have been through a tough time due to the threat posed by cabbage stem flea beetle. In addition, the crop has also faced some very challenging establishment periods. In response growers have adapted how they establish oilseed rape and many have now resorted to drilling the crop throughout a bigger window than what has been done in the past. There's now also a greater emphasis on drilling crops when the conditions are right, rather than just going by calendar date.

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The General Authority for Supply Commodities (GASC) made its largest single wheat purchase for over 13 years this week, buying 815,000 tonnes for shipment during August, September and October. Last weekend, the Egyptian Minister for Supply and Internal Trade said his country needed to import ten million tonnes of wheat over the next six months while having secured 3.9 million tonnes from local farmers and having wheat reserves sufficient for almost six months.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is ready by marketing assistant, Becca Russell. 

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While the industry appears to have well and truly embarked on the transition into a 'new era' now, a level of uncertainty remains around the new funding opportunities and ongoing changes to agri-environment schemes.

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The economics of growing oilseed rape have fundamentally changed over the last few years. Throughout this period, we have seen its value move from approximately £320/t in harvest 2020, to £440/t in 2021, to the heights of 2022 of £900/t. Currently, this has come back to £550/t for harvest. The crop has never been so valuable.

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World wheat futures have fallen sharply this week, as highlighted by the US Chicago Board of Trade (CBOT), for which wheat values declined almost 9.5% since last Friday's close. These losses have been driven by fears of demand destruction in light of failing economies, unaffordable high commodity prices and grain that remains trapped in Ukraine.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

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Late last Friday, the United States Department of Agriculture (USDA) published its June World Agricultural Supply and Demand Estimates (WASDE) report but it made few changes to the previous month's wheat and corn world balance sheets. However, markets rallied from the low levels of trading before the report, where traders had squared long positions in case of bearish data.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Becca Russell. 

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Recent market weakness has been driven by expectations that a solution will be found for releasing trapped Ukrainian grain for shipment through Black Sea ports. This week, meetings took place in Turkey with Russian officials to secure safe routes for grain exports. Russia said that Ukraine must demine approaches to ports and that Russian forces would check ships entering Ukrainian ports which could then load grain and proceed to international waters.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

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Wheat futures markets have again been volatile this week and have fallen sharply with losses extending by over 10% from the record highs reached earlier this month. Long liquidation and speculative selling gathered pace in response to newswire reports that Russia would provide a humanitarian corridor for vessels carrying food to leave Ukraine. Analysts estimate that over 21 million tonnes of grain will be trapped in Ukraine by the end of this season due to the Russian navy blockade of the country's Black Sea ports. The loss of Ukrainian grain supplies to the world's major importers has been the primary wheat price driver since the Russian invasion in February and has been the main element contributing to the prevailing global food crisis.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by marketing assistant, Faye Lee.

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The world's wheat futures markets opened the week with another notable rise in prices, setting new record highs following the news that India would ban wheat exports with immediate effect. The Indian government reacted to fears of an intense heatwave during March which cut yields, sending the country's domestic prices to record highs.

You can also listen to the Frontrunner podcast - press play to hear the latest report. The report this week is read by farm trader, Sophie Powell.

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In a blog published earlier this week my colleague and senior Kings technical advisor, Meehal Grint shared some useful advice on ground and plot management for game cover and wild bird seed crops, as well as new difficulties brought on by the recent bird flu outbreak.

While out on visits to farms and estates, an area we've seen particular interest is the correct establishment of AB9s and similar alternatives.

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Last year, those of you overseeing sporting activity contended with many challenges due to Covid restrictions. While we're still feeling the effects of the pandemic, this year has seen another virus impact the industry - bird flu.