July 06th

Market Report

Harvest has started.

Barley quality is good, low nitrogens thus far on the winter malting spec - although very early doors.

U.K wheat harvest has lost circa £100 p/t in 7 weeks and it could be argued is still over priced, particularly if you compare it to Chicago which is below the level of pre Russian invasion. Whilst the US in technically in oversold territory so we might see some buying at these prices.

Yield in the UK is going to be good, so the only thing which will hold this market up is a crop failure somewhere else in the world - unlikey in the next few weeks.