Monday Market Briefings

No fireworks last week; Brexit negotiations bore no fruit, rain arrived but was patchy, and markets decided they were high enough for the time being. New crop wheat retreated £4/MT

The UK market took matters into its own hands last week, gaining £4.65/MT on LIFFE against a quieter back-drop elsewhere. Dry weather has led some to talk of a sub 10 million tonne wheat crop for the UK

Futures markets have returned now to the upper end of their current range. Put simply, buyers have returned for new crop demand

As we are seeing the first cautious easing of the lockdown measures in England, there is also a sense of some

UK wheat was quietly supported last week, finishing at a €3/MT discount to French after being at parity during April

The contract is for an agreed tonnage of winter oats, variety Mascani. The Oats must conform to all UK and EU regulations pertaining

We have a shortened week with a rare Friday Bank Holiday in the UK to mark the 75th Anniversary of VE Day

Last week’s briefing asked whether market selling would spill over from the previous week and push down through long term support levels

Markets start firmer today after last week’s correction off the highs. New crop wheat has now returned to the level that was a strong

Russia’s wheat crop this season is forecasted at 84.4 mln MT, which if achieved would be 10 mln MT larger than in 2019

In normal times we would be talking of markets winding down for Easter, but the holiday feels more like a footnote in current circumstances

Last week markets failed to extend the rally and ended unchanged. Going into the second week of lock-down there is a new normal

The coronavirus pandemic continues to add huge volatility into our global grain markets – both on physical supply/panic buying and on economic factors including oil devaluation and currency exchange. French wheat markets rallied €21/MT last week, back to the contract highs set back in January.