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.
Filtered by subject: Sterling
Early in the week a Bloomberg headline about Brexit negotiations grinding to a halt, sent Sterling tumbling by 0.5 cent in one minute, which set the tone for the rest of the week.... and GPS... its uses are endless!
A week of contrasts, with wheat down, and soya up and at the same time Samuel Johnson’s adage that 'a fishing rod is a stick with a hook at one end and a fool at the other’ was again proved right!
Sterling is volatile, and whilst it rose to peak mid September, it has fallen in value against the $ and € in recent days (the Boris effect?), the value of UK wheat has increased.
Sterling has been fairly confused this week. The minutes of the previous week’s Bank of England’s MPC showed a 5:3 vote for holding interest rates where they are at 0.25%.