Currency has been volatile this week with Sterling losing ground as we approached the Sunday deadline for Brexit talks with no news of a deal. Wheat has seen another choppy week. Global markets initially rallied after the USDA report which increased Australian, Canadian and Russian crop sizes. Soya continues to follow the same stories this week. Markets are still finding support from the lack of rain across South America.

Sterling has been pretty range bound this week against both the $ and €. The wheat market has seen yet another choppy week. This was on the back of Australia revising their crop up to 31.2 MlnT and Canada revising theirs up to 35.18 MlnT. The soya market continues to be very much a weather market with prices moving lower at the start of the week on improved rain forecasts across South America.

The £ hit 1.35 this week against the $ following comments that a Brexit deal is expected to be announced this weekend. The wheat market has seen a consistent movement downwards this week for the first time in months. The UK will need to import 1 MlnT of wheat for the second half of this season to avoid going into deficit. Soya prices have seen a mixed week. The market moved $8 lower with improved prospect of rain across South America.

This week has seen an improvement for sterling against both the $ and € with optimistic news around Brexit negotiations. Global markets have been mixed this week. The US market has been mostly unchanged with some profit taking ahead of Thanksgiving but little activity actually taking place. UK markets have seen a split between old crop and new crop 2021. Soya prices continue their upward trend albeit with a slight dip.

Currency is still range bound with little fresh news from the market. Brexit negotiations continue, but certainty is hard to find. Vote recounts have secured Biden’s election win. Global wheat markets are lower this week. The Australian harvest is progressing strongly. Pressure on wheat prices continues with French and Russian supply coming into the market. Wheat imports for the year to date are more than double a normal year. Soya prices continue their rally. And is it too early for Christmas decorations?!

This week has continued to see improvement in currency for Sterling. The continued rise in Covid cases in the US has also kept a cap on the dollar. Brexit negotiations are continuing in Brussels with the sentiment now that progress is finally being made. Wheat markets appear to have slowed this week. Soya prices have had a mixed week with some profit taking towards the end of the week.

The biggest news this week for currency has of course been the US election. The $ has lost strength making the £ now back above 1.31 against it. Wheat markets have continued to rally this week, supported by the dryness in Russia and continued global demand. Soya prices have seen another strong week with Brazil now buying US beans. Beans have also been supported by a rally in soya oil.

The £ has been relatively range bound this week with continued tightening of Covid measures and various local lockdowns now in place. Wheat markets have continued to strengthen. The prices of UK imports are now at a premium to domestic prices. UK plantings for harvest 2021 have continued at a good pace this week. Soya prices have continued to rally with the US harvest now 80% complete. Brazil has had to replant some of their acreage.

The £ did briefly creep back above 1.30 against the $. Investors concerned about level of Covid cases. Wheat markets yet another choppy week. USDA report last week lowered US production. Strong amount looking to forward wheat sales. Buyers are thin on the ground. Soya prices have continued their upward trend this week. New crop sales are currently half of what the normal levels. Charity Free Cakes For Kids see high demand….