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.
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Sterling has remained relatively stable; Wheat prices in the UK remain firm; Last week saw a few drier days; Agriculture and farming are taking huge leaps forward using technology to improve the way we work; Uncertainty in the US/China trade deal has again sent the Chinese buyers looking to buy soya beans from Brazil.
51.1kt of feed wheat were purchased in October; The DEFRA figures for the planting survey align with the AHDB at 1.676 million acres and a large 16.9 Mln T crop; China and the United states held vice-ministerial level trade talks last week, giving a small boost to prices; In a Derbyshire Dales field Gavin Munro is growing trees to make furniture.
Production figures are the highest they have been since 2015/16 at 17.8-18.1 Mln T; Brexit news was the key influence in the UK and again gives us a different picture to the global markets; European grain brokers have bought over 1 Mln T of UK wheat so far in the pre November period as UK wheat has maintained a substantial discount to EU price since harvest.
UK Wheat remains steady with inactivity; Majority of trade for winter months; Harvest almost complete; Yields above 5 year average; Sterling gained over the week; Rainfall affecting prices and supply of wheat globally with production down in Australia, Brazil and the Ukraine; China exempts US Soya from tariffs; Soya prices rose over the week; China places US soya bean order; Drone attacks on Saudi Arabian oil facilities affected the sector; Maurice the chicken has stood up for his right to a voice in French courts.