July 27th

Market Report

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

London Nov 20 wheat closed up on Friday £1.50 (£168.75) and Nov 21 + £1.15 (£153.50); for the week, Nov 20 was unchanged and Nov 21 + 25p
UK early wheat yields reports adequate with growers relieved and quality good and usable; first spring barley from south, reports are very good yields, early days for both though.

French wheat up due to firmer US markets, tighter supply but not helped by stronger Euro.
At this time of year there is normally aggressive selling from the Black sea but sellers throughout Europe are reluctant.
Weather for Europe this week generally beneficial for harvest, with only light rain forecast.
French wheat crop good to excellent goes to 57% from 55% as harvest moves north and better crops
71% harvested

US corn and soya slightly down whilst wheat gained; weather remains beneficial to crops.
Markets helped by weaker $ as FED plays it soft with low interest rates in an attempt to try and support economy; $ down 6 days in a row.
Soya supported by 9th consecutive report on export sales.
US / China political tension increases with military exercises off Taiwan however China continues to buy,’ watch what they do not what they say’

Argentinean wheat crop suffering dry conditions and debate about autumn weather and ‘La Nina’ effect

author: Joe Beardshaw