Monday Market Briefing - 15th February 2021

As the UK’s cold snap ends and we return to mild wet weather, the US is currently experiencing a cold snap right down to Texas, temperatures hitting -15 deg in Houston. There might be some concern for wheat crops reflected in markets this week, but generally, things have gone quiet and will probably remain so again this week. It is half-term week after all, and China remains closed for New Year, many market participants will probably spend it gazing longingly at ski resort webcams from afar.

In the UK, the pandemic is very clearly in retreat and, without ignoring the potential impact of any new variants, industry has to start to prepare for a return towards more normal activity. There was a marked increase in old crop buying action last week, which is welcome news for long holders. The increase in demand across all grades, but particularly wheat for spring/summer delivery is a great opportunity to clear out balances and current bids represent excellent value. Speak to your farm trader to find out more.

Have a good week and stay safe.