July 20th

Market Report

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

London wheat closed unchanged November 20 (£168.75) and down £1.10 November 21 (£153.25), over the week November 20 was + 25p and November 21 - £1
Sterling weaker currently £ / euro 1.0947 / .9135p

US markets were quiet but high temperatures are causing some concern.
Vegetable oil is stronger as rain in India, Malaysia and China has pushed up palm oil combined with firmer mineral oil. US / China trade war rhetoric continues, however there are signs of some progress on Phase 1 of the trade agreement..but total package has yet to be signed!

French wheat 47% cut against 11% last week, winter barley 90% cut against 65%, spring barley 22% against 10%
Corn 82% good to excellent down from 83% last week compared 75% this time last year. The pace of the French harvest seems to be faster than last year, this time last year only 26% of the crop had been gathered.

Ukraine grain production put at 68 mmt compared last year’s record 75.1 mmt

author: Joe Beardshaw