Both oil and grain markets reacted quietly to the signing of the US-Iran ceasefire, probably it was fully priced in by the time the lengthy process concluded, and there were conflicting reports over the weekend about the true situation in the Straits of Hormuz.
Read MoreNovember LIFFE hovered around £180 all week, closing Friday at £179.40. Oil came under renewed pressure as the deal to re-open the Straits of Hormuz seems to be in touching distance.
Read MoreImproved weather across major northern hemisphere crops has allayed the worst fears about 2026 production prospects, markets continue to off-load their recent weather premium in the search for competitiveness on export markets.
Read MoreThe USDA’s 2026 supply projections fully absorbed the worst reports from drought hit US wheat crops, markets were taken a little by surprise and posted £5 gains on Tuesday.
Read MoreLast week, exchanges gave up all of the gains made in the previous week. In fact, in the six weeks since I last sat down to write this report Nov26 LIFFE has moved precisely £0.05.
Read MoreFor the majority of the time, global primary producers – including UK farmers – are Price Takers. Price discovery for grains occurs via various physical and futures markets, with effects from the commodity itself, and the macro markets around it.
Read MoreIn six months’ time, economics in cereal farming is likely to be very different. While the majority of growers have this season’s inputs fixed at pre-War levels, soaring fertiliser prices will effect new crop Harvest 2027 planting decisions.
Read MoreGlobal grain markets peaked on March 31st, bullish bets in ag commodities heavily supported by large specs and hedge funds to close Q1 2026.
Read MoreAs US Infantry ships approach the war zone, America faces her ‘double or quits‘ moment, do they go in on the ground or do they walk away claiming victory?
Read MoreA see-saw week lies ahead as the World holds its breath waiting to see the outcome of escalating threats and deadlines between the US and Iran.
Read MoreGrain sentiment continues to track oil , largely sideways to firmer last week , as the Iran conflict continues.
Read MoreFor most of last week grain markets showed a clear reluctance to rally in response to the unfolding drama in Iran.
Read MoreThe US/Israeli coalition chose this weekend to poke a rather big stick in the hornet’s nest which is Iran. The action started in the early hours of Saturday so markets first reactions will appear during Monday trading.
Read MoreWheat could be in for a volatile week as markets try to interpret the implications of Fridays US Supreme Court ruling on tariffs. The Courts decision relates to the particular law used to implement tariffs last April
Read MoreSpot markets plod sideways, last weeks WASDE did indeed forecast the heavy year end stocks we are all expecting this summer.
Read MoreAnother flat sideways week did see some short-covering but buyers were able to find the volume needed without shifting the price which remains stuck stubbornly at season lows.
Read MoreThe last soggy week of January was a busy, active one with prices tracking sideways again and farmers taking old crop opportunities to tidy up.
Read MoreLast week finished slightly lower after a deluge of news that, in different times, might have sent us off in either direction. US attempts to bully Europe into submission over Greenland met with a strong response and the threat of increased tariffs disappeared almost as soon as it was raised.
Read MoreThe January USDA world stock update was not at all as expected. Increasing US corn output from the 25 harvest at this stage surprised a market looking for lower ending stocks not higher.
Read MoreMarkets were extremely quiet across the Christmas break, grinding along sideways and steadily eroding the deferred month carries as we go.
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