Wednesday, 10 July 2019
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 yesterday. The move lower follows better prospects for French cereal crops. The French farm ministry estimate soft wheat production at 37Mt (8.5% up year-on-year) and barley production at 8.7Mt (6.7% up year-on-year).
FranceAgriMer have also raised their expectations of 2018/19 wheat and barley ending stocks. Futures have recovered marginally to £145.15/t so far this morning, likely a technical move.
#AHDBCropTour moves south
The AHDB Crop tour moved south yesterday, with a visit to AHDB Cereals and Oilseeds board member Andrew Osmond at Moor Court Farm, Sparsholt.
We took a look at feed wheat and malting barley, with expectations high for both crops. The open autumn allowed both crops to get off to a good start, and the disease and grass weed pressure has been kept to a minimum.
Crop Tour Headlines
Wheat – Septoria and Orange Blossom Midge damage had been kept to a minimum and wheat was generally looking good. Yields for Moor Court farm are expected to be average to above average with potential for 11t/ha or more.
Malting Barley – The season has been very different from last year. Dry weather has again been a challenge for the south. While more moisture would have been welcomed, rain in March and early-June has left crops looking well. With a good number of grain sites per ear, yields look promising with expectations of around 8t/ha for one crop of RGT Planet.
OSR – Very dry conditions for establishing oilseed rape and damage from Cabbage Stem Flea Beetle have led to very varied crops.
We were also joined on the tour by Nick Matthews, from Basingstoke based grain merchant Robin Appel limited. Nick provided updates on the wheat, barley and oat markets, and the challenges and opportunities for each.
Click the links below for his views on the market.
Today, the AHDB Crop Tour moves on to Essex and Norfolk. Keep an eye out for #AHDBCropTour on social media for the latest updates.
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