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May 20 London wheat closed up 25p Friday (£151.75) but down £2.50 for the week, November 20 closed up 70p (£160.30) but down £1.75 for the week.
Sterling unchanged but, Brexit negotiations have not been helped by negative comments from French foreign minister Jean- Yves le Drian saying ‘trade deal unlikely by end of year’.
French wheat is in the worst condition for 8 years, at this stage 65% good – very good against 85% this time last year, the area is already down due to planting disruption; EU wheat crop estimated -5%.
French winter barley is rated 67% good – very good, 79% last year; Spring barley as of 10th February 16% planted.
US markets are slightly weaker.
Coronavirus continues to be a concern, 64,000 infections and 1,400 fatalities reported.
South American weather continues to boost crop potential
$ stronger not helping exports
Rumours are that China has bought 500,000t corn from Ukraine.
World’s third largest economy Japan has reported poor economic data.author: Joe Beardshaw