Monday Market Briefing - 15th June 2020

Shipping Activity: MV MOON STEP – 4,400 MT Planet Malting Barley

Markets slipped £2/MT lower last week but remain at the upper end of their trading ranges for the pre-harvest period. The USDA has already predicted a record wheat crop for the coming year; their latest update raised that figure again by 5 mln MT which seems at odds with the underlying strength of wheat futures markets around the world. However, the production increases are almost entirely in China and India. These two countries already hold 61% of the worlds wheat stocks between them, and any increase in Chinese or Indian production are unlikely to be offered into the world market. By contrast, crop worries persist in the major wheat exporting nations - particularly Europe, Ukraine and Russia. 

The French winter barley harvest was disrupted again by rain, but French traders are hopeful the change in weather came in time for their spring barleys and that will surely be true for the UK. There was very little trade last week but offers were lower. There is healthy interest for harvest feed barley as crops in Southern UK have started to ripen. There will be some early shipments and a lot of store filling going on so stay in contact with your farm trader who can give you an updated bid for prompt movement.  

Have a good week and stay safe.

Bartholomews Grain Marketing Team