Monday Market Briefing - 1st July 2024

We had a flat sideways week in the end after LIFFE tried a couple of times to break up through £200 but lacked the buying interest to keep it there. Early reports on the French winter barley harvest were pretty under whelming with yield and quality issues both being seen. Germanys Euro football match was suspended for 20 minutes due to torrential rain on Saturday evening - a reminder that the Continent is having a worse run of weather than we are just now, including more rain across the French grain belt across the weekend.  

European quality issues could lend support to UK crops, but the real test of prices comes when buyers come in for the new crop, they have not been in any rush so far,  and worldwide supply looks manageable on current crop estimates. Harvest 25 oat terms are out this week, we await the decision on herbicide approval that is key to some cropping decisions in the south-east, but spring oats are included from the outset this year and that will be an attractive option for many. Speak to your farm trader if you are considering oats in the rotation for 2025.  

Have a good week.