January 18th

Market Report

It was Martin Luther King day yesterday in the states so US markets were closed. This meant that UK and EU markets struggled for any kind of direction, they were open but trade was thin. Talk over the weekend of the 'imminent ' and 'inevitable' invasion of the Ukraine remains one of the markets main talking points.

Overnight the US wheat markets have rallied following last weeks steady declines, some bottom picking probably going on. This will lend direction to EU wheat markets this morning.

OSR markets were down yesterday and overnight Soybean markets have dropped as well with a lack of bullish data. The palm market is closed for a bank holiday today.

Brent oil continues to find support now trading at $86/ barrel and staying firm. Sterling has weakened over the last few days on the back of poor economic data.