Wheat futures end the week higher. Currency remains key volatility driver. Brexit deadlines draw ever nearer. Zero import tariffs announced. Russian and Ukranian wheat lowest prices seen. US China deal remains focus. Soya market showing little change. Winter flooding in US. Hens get their revenge.
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A tale of two stories between old and new crops. Dry weather is still reported across much of Western Europe. Will US tariffs be implemented next week? Big brother might be watching you soon.
UK May wheat futures have been trading weaker as the May contract comes to a close. The rail strikes in France caused some logistics delays. Delayed spring plantings gain pace in both Europe and the UK. Program your robot to build an Ikea chair or invest in a wearable chair?
This week UK May wheat futures hit a 5-month high. UK wheat supply and demand has remained tight, despite the high level of imports. Weather and politics remain the drivers for the commodities markets. People do strange things when they have had a drop too much juice - Climb mountains it seems.
London wheat continued to gain despite losses in both the EU and US. Torrential Easter weekend weather was no surprise. China and the US play tit-for-tat with tariffs, dramatically changing the supply network and trade flows. The contents of Heathrow Terminal 1 will be auctioned off in two weeks’ time.
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.