ELMS Landscape Recovery – what to look out for in round two: Grain market daily

Thursday, 15 June 2023

Market commentary

  • UK feed wheat futures (Nov-23) closed yesterday at £196.45/t, down £4.55/t from Tuesday’s close. The Nov-24 contract fell £4.25/t over the same period, to close at £200.35/t.
  • Domestic futures followed global contracts down yesterday, re-positioning after gains the previous day on renewed concerns that the Black Sea Initiative may not be renewed next month. EU futures also felt some pressure yesterday from easing concerns about hot and dry weather in France (Refinitiv).
  • In other news, Australia is reportedly expecting a positive decision over the next two weeks from China, to fully settle a dispute over barley tariffs, according to Australia’s Trade Minister (Refinitiv).
  • Paris rapeseed futures (Nov-23) closed yesterday at €441.50/t, down €11.50/t from Tuesday’s close. Paris rapeseed and Winnipeg canola futures both felt pressure yesterday, with wider weakening also seen for Brent crude oil futures.
  • The latest Manitoba crop report has been released, showing data to 13 June. In the southwest, reportedly heavy rain and hail has been seen across the region in the previous week. Crop damage is still uncertain, but some non-cereal crops including canola appear to be ‘severely affected’.

ELMS Landscape Recovery – what to look out for in round two

Landscape Recovery is one of the environmental land management schemes (ELMS) that is open for farmers and land managers who want to undertake a large-scale, long-term approach to producing environmental and climate goods on their land. The first round opened in 2022; since then 22 projects have been announced which are now being finalised before heading into the development phase. The second round, which is now open, is looking for up to 25 projects of at least 500 hectares that target net zero, protected sites and habitat creation. Defra has in-depth guidance and information on how to submit your application.

With the second round of the Landscape Recovery scheme open for applications, how are farmers feeling about the major changes occurring in domestic agricultural policy, and what are their attitudes towards the scheme? We recently conducted research in collaboration with Harper Adams University to assess farmers’ attitudes towards the schemes, exploring the benefits as well as any barriers and challenges they faced when applying.

Read more about the research on the Landscape Recovery scheme and key takeaway messages

Image of staff member Jess Corsair

Jess Corsair

Senior Economist

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