Sideways again last week and with much reduced daily volatility, the northern hemisphere harvest is starting and we know this will be the key to the next market move.  

Early French winter barleys from La Pallice were disappointing in both yield and bushel weights. The widely reported heat took its toll and, whilst this area is not usually indicative of the main French crop, the region is a significant feed grain exporter normally so it’s not the best of starts.  A large part of the French spring barley south of Paris is actually irrigated so we shouldn’t get too carried away with the implications of the hot weather just yet. Infact, Scandinavian sellers have been putting some pressure on the market as their own crop conditions have improved markedly in recent weeks.  

The UK has largely avoided the Continental heatwave with temperatures even in the South only briefly topping 25 degrees. No harm done to the developing crop which still looks in fine shape overall. Early slots for feed barley shipment are being hoovered up at a pace now, don’t miss out on that one if you want some early action this harvest. There are a few gaps for old crop milling wheat in July – although probably not enough to mop up some of the hefty farm balances that keep popping up. We don’t appear to be in any danger of running out of wheat that’s for sure, fortunately the carry into new crop looks healthy for the time being.  

23 Crop oat contracts are out – speak to your farm trader if you have them in the rotation next year. Last but not least, autumn seed prices came out this week. With the gross margin incentives to grow all crops so strong, seed will sell out this year especially for the most popular varieties. Busy times indeed.  

Have a good week.