Markets ended £4 lower after a relatively quiet week, most now expect the Black Sea Corridor to be extended more or less intact, and price levels have returned to the range set in post-harvest trading before that came into question. Exchange rates may be a factor again this week as the Westminster show continues, but notwithstanding that, markets now start to look comfortable at current levels and another quiet week for price movement is likely ahead. 

Chinese buying has returned for French wheat and barley, they have been largely absent this season until now. UK supply is competitive to ship into France but the UK/China protocol remains unsigned four years after it was first mooted, preventing our supply being included in these cargoes, so we won’t be seeing any volumes crossing the Channel any time soon.

Fortunately, other European markets for our quality grains are open and busy. We have at least one and often two vessels on berth every week now all the way to Christmas, many heading south, and with the shipping programme now largely in place, buying interest will tend to be focussed on whatever is in Port that week. The end of the calendar year is such a focal point for movement of farm grain, that we often see quite a lull in movements in January. Hence, focus now starts to shift to ensuring we have an active programme in those early weeks of the New Year. Don’t forget – the crop we harvested this year was exceptionally low moisture, making it more attractive to buyers as well as safe to store into those later months where there is very good value to be had. If you are interested in catching some added value for a relatively short carry – do have a look at what’s on offer.

Have a good week.