UK market focus on Brexit. Currency down, wheat level. Russian wheat prices high. France win Egyptian tender. US China talks improve. Brazilian 50% production sold. How stressed is your life. It might not be a bad thing…
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Low UK trade volumes. Russian Egyptian tender offer. Brexit. US Government shutdown. US/China trade wars. Argentina soya increase. Brazil’s soya crop expectations lower. The link between higher belly fat and smaller brain size!
November wheat falls. Ensus to close bioethanol plant. Brexit adds to volatility. Positive weather forecasts for winter crops. Trade deals between China and Palestine.
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...
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’.
Despite volatility through the week, week futures rebounded back to £147 by Thursday as the BoE increased interest rates for the first time in 10 years. The Esmeralda sank and was finally located off Oman in 2014, where archaeologists recovered the ship’s astrolabe.
If it had not been for the early harvest in August this year, many feed millers would have run out of wheat. ‘Works of the Old Men’, kite-shaped structures were used to catch migratory birds.
5 hours from Adelaide the people in Kimba have turned to art to attempt to attract tourists to their remote agricultural village.
Commodity markets are currently, all about the weather, the funds and currency. US soil conditions are a bit like the curate’s egg, there are some rotten bits as well as parts that are excellent.
US spring wheat futures hit a three-year high as drought conditions continue in the northern US plains and Canada, with the poorest rainfall for 20 years.
UK wheat supplies are still tight with the North/South price divide still in place at £162/£152 respectively, because the industrial users in the north (Manchester & Hull) chew through wheat at a rate of knots.
We had hoped that UK wheat prices would ease once the May futures had been depleted. There are currently only 400 lots (40,000t), and the May contract expires next Tuesday,
This week there is an intersection of economic ley lines: it is the end of the month, the end of the Quarter and another USDA report.