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Contents tagged with Grain Market Daily
13 July 2021
Yesterday the French farm ministry upped its estimate of soft wheat production by a further 1.2Mt from its July estimate. The ministry now forecast French production to reach 38.2Mt, up 12% year-on-year, the largest French soft wheat crop since 2015 (EU commission – 40.9Mt).
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13 July 2021
European wheat markets moved down yesterday. UK feed wheat futures (Nov-19) closed at £144.80/t, down £1.15/t since Friday.
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13 July 2021
Up to 30th July, 31% of the oilseed rape crop had been harvested.
13 July 2021
UK feed wheat continued to track upwards yesterday although only marginally. From Monday’s close UK feed wheat futures (Nov-19) increased a further £0.25/t to close yesterday at £148.75/t. Paris milling wheat (Dec-19) also climbed yesterday, closing at €181.50/t, a rise of €1.00/t.
13 July 2021
The value of sterling has fallen to its weakest point against the dollar for more than two years ahead of a week of key economic data. Weakness in the value of sterling will act to support the value of UK agricultural products.
13 July 2021
European wheat markets have seen little movement this week. UK feed wheat futures (Dec-19) have traded within a £0.75 range from £146.25/t to £147.00/t since Monday. Paris milling wheat markets have traded between €179.25/t and €180.75/t at close yesterday. US grain markets have also been following a similar sideways trend. Chicago maize (Dec-19) traded within a $1.87 band and Chicago wheat (Dec-19) traded within $3.30 from Monday to yesterdays close. With cereal harvest underway in the northern hemisphere, yield and quality reports will be monitored closely to readjust any forecast currently in place.
13 July 2021
Today has seen Defra release the latest update to the Basic Payment Scheme planted area dataset that was first released a year ago. The dataset looks specifically at land use including grassland but we’re concentrating on the main crop areas in England only.
13 July 2021
Global grain markets remained relatively flat yesterday with no real change in fundamentals affecting the markets.
13 July 2021
As we move through July and into August progress of global wheat harvests becomes increasingly important to price direction.
13 July 2021
UK feed wheat futures continued their recent decline yesterday. Earlier in the week we highlighted that the 20-day moving average had dropped below the 50-day moving average. The trend has continued over the course of the week and at yesterday’s close the 20-day average was sitting just £0.66/t above the 100-day average.
13 July 2021
UK feed wheat futures (Nov-19) fell further below the long term moving average yesterday. New-crop futures have fallen £4.20/t over the past two days, closing at £144.50/t
13 July 2021
The AHDB Crop Tour moved east yesterday, visiting Simon Brock at Swanton Morley Farms near Dereham, Norfolk.