Monday Market Briefing - 6th January 2025

Our markets enjoyed a positive December, meaning we come back in the New Year with values a bit higher than before Christmas and as good as anything we’ve seen since early autumn. There are the usual crop of supply stories for bulls to take interest in - but its possible ag commodities are just caught up in the generally bullish mood across most other unconnected markets at year end this year whereby stock markets and oil indexes have been hitting highs again. May Liffe at £195 looks like a key resistance level- we bounced lower off that price on New Years Eve and it will be key to see if we have the momentum to break up through it during January. If we do, expect fireworks, if not then current prices may represent good late winter value for your next ex farm sales.  

 As always , price rises require good buyer engagement and it does feel like most buyers are significantly under bought for Jan -July, certainly since my return in December there has been a stirring of interest and activity in malting barley and even oats both of which have been in very deep slumber since harvest. Two barley vessels in Shoreham in first half Jan will clear any current backlog, and we have a big programme to complete before harvest which should provide ample opportunities for the crop that’s out there on farm. Milling wheat has been a more active trade throughout the season so far, and we expect this will continue in the coming months. Speak to your farm trader for the latest bids.

Happy New year to everyone.