Monday Market Briefing - 8th September 2025

Markets are flat-lining sideways, faced with a barrage of positive news about crops extending now into the southern hemisphere as well as the north. It’s worth remembering that the market is currently pricing in a much lower corn figure than the USDA’s big August uplift, but with crop and weather reports all positive, the Government’s figure is becoming more plausible by the week. Despite lower grain prices, food cost inflation remains stubbornly high — testament to the ever-increasing costs of getting it from field to plate. Local markets for local produce, anyone?

Fortunately, we have seen strong activity in the quality wheat sector, with farmers and millers both engaging strongly on pre-Christmas positions as sample results flow. Expect these markets to be finished off fairly quickly; Sep–Dec will be mostly full by the end of September at the latest, so crack on if you have wheat that might want to move in that period.

Malting barley, in stark contrast, remains in deep slumber with literally nothing of note going on. Anyone who attended the summer breakfast meetings with us will recall we were concerned for this market, but I’m not sure anyone saw it being quite this slow. At some point MB has to start trading, and there were some hints of interest last week. The south has plenty of shippable barley and it will all move eventually, but patience is being tested now.

Have a good week.