Markets were better supported last week, China bought over 1 million tonnes of US soft red winter wheat- a huge cluster of purchases which helped bring a firmer tone.
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We continue to rumble along sideways but with a lot more action going on. Egypt booked a large tender of mostly Russian wheat and China bought US wheat for a second week in a row
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There were some attention grabbing stories around last week, a cargo ship struck a mine near the mouth of the Danube, and also unconfirmed reports of China buying US wheat which would be unexpected if true. In the end the stubborn refusal of markets
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The USDA’s latest pronouncement caught everyone a little off guard late Friday, some chunky changes to their yield estimates
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The relative calmness of markets at the moment, last week was another fairly sideways one, actually assists in getting trade going.
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Some reductions in European crop forecasts helped us to a slightly firmer week but we remain in a pretty tight price range. On Friday the EU confirmed the ‘ban’ on Ukrainian over-land exports into neighbouring Countries
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Markets pottered along sideways again, but with a steady level of engagement from buyers and sellers mostly for nearby positions
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The Black Sea Grain Corridor will be discussed again this week in Sochi to see if the international community can agree to reopen the agreement. For more on #grainmarketing, see this week’s report
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In July we welcomed a maiden voyage a global first of green technical fertiliser from Fertiberia into our Southampton facilities.
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Please find the Bartholomews August 2023 newsletter.
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