Monday Market Briefing - 22nd June 2026

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. Some ships evidently are moving. Early harvest reports from France are of an ok but not exceptional crop so far, the impact of the May heatwave there is visible in some yield reports. All things being equal we have probably arrived at a neutral price point now going into harvest and, unless the crop performs markedly different to expectations, we are in for a period of reduced volatility for a while.

At home we have a new and significant hot spell arriving this week, don’t forget your hats and sunscreen at the trials ! The two days at Chalton  ( Tues 23rd -Wed24th June ) mark the culmination of the June events programme and will be an amazing show. Choosing the right wheat varieties – from the wide options currently available- has arguably never been more important than now with marketability, disease resistance and yield potential all vital to the bottom line. On Thursday we have the Green Conference also at Chalton, the imminent arrival of CBAM fertiliser taxation next year is going to fundamentally alter the dynamics of the fertiliser market and makes this a no-miss event for all farmers serious about planning for the years ahead.

See you there.