November 09th

Market Report

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

So Biden has won the Presidency and with it a lot of major issues to contend with. Trump still refuses to concede but the Republican party will struggle to keep showing support for him if he makes allegations that seem unfounded. Biden will improve international relations, China might find tariffs less restrictive, the UK/ EU trade deal is in a whole new light. Barnier may become bolder knowing that the US will not guarantee a trade deal with the UK (Biden is a believer in Europe) and this could mean the UK having to accept a more EU focussed deal.

Stock markets have already reacted positively to Biden with Japans Nikkei at a 29 year high, and this bounce is being seen across other major stock markets. Overnight the US ag markets are slightly down, the dollar is unchanged to slightly firmer and sterling is unchanged. Currencies will remain volatile until Trump concedes, its the uncertainty again causing issues.

EU wheat drilling has continued apace and farmers are reporting reasonable conditions and crops looking well. The UK has some rain in the short term but again looking dry further forward.

UK ag markets will lack direction and could well be unchanged to slightly down.

author Ben Schadla-Hall