Tuesday Market Briefing - 27th August 2024

Commodities remain under severe pressure with no respite in sight for the time being, a potentially enormous US corn crop looms over everything still. Those who followed last weeks advice to start selling milling wheat are now sitting on some above market contracts, the same applies this week as milling premiums are still a bright spot in an otherwise tough situation.  There was buying interest creeping into the marketplace towards the end of last week but the UK finds itself again at a premium to the French making it very difficult for our market to turn the corner any time soon.

Prompt movement is available for wheat in all milling grades, and with both oats and malting barley showing no signs of early demand, wheat is the go to market if you have dry material ready to go. Speak to a trader if you would like to move something on.

Have a good week.