Markets continue to drift with bullish/ bearish news seemingly balancing each other out. Overnight US markets are slightly down but news is emerging that the Brazilian soy crop is now having some issues with rain delaying harvest. The beans in some instances are rotting/ sprouting in the field. This is one to watch as many analysts were pinning their hopes on a large S. American crop.
EU Ag markets are slightly down this morning on the back of US sentiment. Stg is still reasonably firm against the major seven and talk of inflation building in the economy is more prevalent.
UK domestic demand remains hand to mouth with little forward demand and few sellers. Milling wheat imports continue to come in and this is adding to the supply in the market.