October 15th

Market Report

Our market reports are opinion based and are not instructions to trade. You are responsible for your own trading decisions.

London November wheat closed down 25p at £135.50 but, the November position is getting ‘technical’ and May 20 closed up 65p (£144), November 20 + 95p (£147.80).

Trade dominated by logistical headaches, ports are busy trying to execute sales by end the of October; weather and a lack haulage is not helping the situation.

US markets mixed, wheat and soya up but corn unchanged
Surprisingly, corn is not reacting to weather issues; crops in north west plains have been lost by weather affecting immature crops.
Soya continues to climb on the back of trade talk hopes; is it coincidence China wants some agreement as Brazilian soya values reach 2019 high as supplies get short
Markets not helped by stronger $, lower oil and stock prices

Russian spring yields better due to weather. Russian winter wheat yield estimated 3.52 t/h ( 5 year average 3.65 t/h), winter barley 4.18 t/h (4.09 t/h), spring wheat 1.74 t/h (1.62 t/h), spring barley 2.26 t/h (2.15 t/h), corn 5.51 t/h (4.92 t/h)

Swine fever continues to spread, South Korea employing snipers with thermal Imaging to eliminate feral pigs crossing from North Korea

author: Joe Beardshaw