Monday Market Briefing - 24th March 2025

Prices are still drifting quietly lower but the market is really in a wait and see moment as two key dates loom at the end of this month. Next Monday the USDA publishes farmer planting intentions and the market expects a heavy corn programme this year which will keep a lid on prices if confirmed. Then we have the 2nd April deadline for tariff negotiations affecting both Mexico and Canada. We might hear more news on those talks this week but obviously if they don’t go well there is the prospect of some punishing tariffs being imposed presumably in both directions.

Fortunately, home markets are enjoying a spell of moderately good activity, there are opportunities now to place most old crop items and with spring field work well advanced, attention is returning to what’s left in the barn. UK feed grain prices are positioning again to force the carry from old to new with a £19 spread now between May and Nov futures, but this is still £11 narrower than the widest point last year so it wouldn’t be a shock to see old crop remain under pressure for the time being.

Don’t forget to call the grain team if you would like to book a seat for the upcoming Shoreham Users Meeting on 10th April, this ever popular event is open to all and anyone interested to hear about the new opportunities opening up in the coming season should come along.  

Have a good week.