Wheat continues to drift downwards, having lost nearly £10 in the last 2 weeks; China added tariffs to $75bn worth on more US origin goods, which caused a flurry of activity in the last half of Friday; AHDB estimated that UK winter barley is 98% complete with production up between 17-20%, rapeseed at 95% complete but with the smallest crop since 2004-05…
Filtered by subject: Weather
A `no deal’ seems to be ever more likely, which could push sterling even weak against both the Euro and Dollar. The idea that the pound could fall to Parity is now starting to be more real despite a little bounce in values last week, and if you are buying your Euros privately to go abroad, it is already under parity!
The most recent monthly USDA report was an important point…
Brexit plays politics with UK markets; US weather remains a big focus with heavy rains predicted; No end in sight for US/China trade deals; US farmer confidence low; Russian story is looking bright; EU crop remains promising with good balance of rain and sunshine; Soya bean market dropping fast; China reducing demand for soya; Ancient Bronze age birdman discovered in 5000 year old grave.
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.
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!
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.