Currency has remained remarkedly stable since the Brexit deadline was postponed again; The price of UK wheat remained firm this week; New crop planting is still only 50% complete; French wheat plantings have made little further progress, mirroring the UK; The Russian Agriculture ministry downgraded the 2019 crop to 75 Mln T; The US announced that it would remove harsh import tariffs against many Chinese imports.
Filtered by subject: Russian Wheat
Politics, Brexit, remains the only market driver; Currency is providing big swings on markets day to day; New crops trading at considerable premium; Wheat production for 2019/20 higher year on year; Russia leads wheat export sales ranking; Positive news re China trade deal; Rain inflicted damage on Indian soya production; Is life simply a rat race… for one rat it just might be!
Global wheat markets have firmed. Domestic consumption is significantly higher since March. Global grain supply is estimated to decline. Fipronil scandal office raids. Monks make beer… in the monastry?
May UK wheat futures weakened this week and fell through to £138 on Friday, the lowest price since December 2016. Russia seems to have realised that it has little competition in the international wheat export market this year, so even with prices rising their dominance has not been affected. The remains of the Clotilda - the last known ship to carry enslaved Africans into the US may have been found
The strange UK weather pattern we have experienced this year, with early heat then sunshine-and-showers to date means that in parts of the South, all the crops have ripened at the same time. Farmers are rushing about in-between showers trying to simultaneously harvest malting barley, rapeseed and milling wheat.