We hosted a lively event at The Bell Country Inn, Llandrindod Wells, last week with some great speakers who really captured our attention.
UK May wheat futures continue to trade within the same tight channel of the last four weeks and lacking any significant change in local or global supply and demand it continues to do so. It seems that the inclusion or exclusion of a comma might be very expensive as a US court case has recently highlighted. Another win for the lawyers maybe?!
As Elon Musk, the CEO of SpaceX and Tesla launched his own car, a cherry red Tesla Roadster into space this week the markets entered a 'correction period' with US stocks falling sharply as a result of expected interest rate rises.
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UK wheat prices showed a small bounce earlier in the week but have returned to the gentle downward trend, with the May wheat hitting contract lows of £137.50 and finished the week just above that level. Can a swarm of locusts cause huge embarrassment to Russian officials if as feared, the locusts sit down to enjoy some of the football pitches set aside for the World Cup in June this year.
Defra has extended its Avian Influenza (AI) Prevention Zone across the whole of England after 6 outbreaks of the H5N6 virus have been confirmed among wild birds in recent weeks.
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
If anything was going to make The May wheat futures break out of the £140-£143/T channel, it was last Friday’s USDA report, and it did when the UK markets opened on Monday. Is the Bayeux tapestry English or French?
The Government’s new focus on agricultural and rural affairs in the light of Brexit could be good news for farmers considering opportunities in the egg and broiler sectors.
UK wheat prices spent most of the week on a slight upwards trend. Demand for UK spot wheat is good and there is more than sufficient availability here in the South, so selling activity ex farm may increase now that the holidays are behind us. Once in a blue moon it snows in the sahara
There has been very little volatility for quite some time and the trade is getting bored. Michael Gove, the Defra Secretary, attended both of the Oxford conferences this week, the Oxford Farming Conference and the rival Oxford Real Farming Conference. Archaeologists in Alaska have found an 11,500 year-old skeleton
Defra and the trade are now in agreement that UK wheat supply and demand are in relative balance assuming both exports and imports also remain in balance. At the Jack Daniels distillery at Lynchburg, Tennessee they have a unique way of celebrating Christmas – they build the Jack Daniels Christmas Barrel Tree. Merry Christmas!
All wheat markets are weak, reflecting ample global stocks and pressured by forecasts of larger Canadian and Australian harvests. Brazil and Argentina are also currently busy harvesting, so the world is not short of wheat. Back in the 18th century, a paper was needed in order to prove that cocks are incapable of laying eggs...
Free range egg production is enjoying continued year on year growth, an opportunity that has not gone unnoticed by farmers working in less predictable sectors.
The lack of price action recently has been so dull, that the grain trade are acting like door-to-door salesmen in their efforts to try to create a market. They say anything is possible in the USA... A microwaved egg has been the subject of an American lawsuit where a customer bit into an egg resulting in burns and hearing loss due to the massive ‘pop’.