February 04th

Market Report

A week is a long time in politics and this has been a long week for everyone. US ag markets have rallied overnight after a week of falls. Crop conditions remain good across the EU but there is dryness in the US and the S. American weather patterns are still not conducive to good crop conditions. There is still a lot of the marketing season to come.

New crop OSR is slowly climbing up on the back of weak sterling, firm soybeans and firm Brent oil. Brent oil has just hit another high and shows no sign of weakening. All this happening as the BOE raised interest rates yesterday from 0.25% to 0.50%, Bailey said he had to do it to combat inflation. There will be a lot of households feeling a lot pain and the potential for an economic downturn is now more prevalent than ever.

These are unprecedented times and what we need now is stable government........