August 03rd

Market Report

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

November 20 closed up 5p (£165.85) and November 21 + 20p (£151.85) making the weeks movement - £2.90 November 20 and - £1.65 November 21. Today the markets have so far traded lower along with French Matif, circa £1.80 Nov20 and €1.50 Dec 20.
French wheat trade was fairly flat last week, very little news to provide the market with direction.
French wheat harvest 90% complete from 71% last week; Maize rating good to excellent 77% from 80% last week

Sterling stronger against € and $

Ukraine’s grain export figures were a third lower in the month of July, down to 2.33 Mt, this included 1.19 Mt of wheat, 424 Kt of corn and 714 Kt of barley.
US grain closed slightly higher but trade is quiet. Biggest gain was soya oil, which is at 5 month high, giving greater incentive to crush demand
Despite huge corn sale to China, markets appeared to ignore the news as big crop looms
$ poised for biggest monthly drop in decade.

External markets trading sideways, apart from gold close to an all-time high reflecting investors nervousness

Australia anticipating 26.5 – 27 million tonne wheat crop, biggest since 2016 but plants entering critical stage.

author: Joe Beardshaw