Monday Market Briefing - 22nd December 2025

Markets bump along sideways still, with very little news to chew on as the record 2025 harvest nears completion worldwide. The EU thankfully stepped back from a decision to release frozen Russian assets into the Ukrainian war effort. It’s hard to see how the E100 billion loan they did agree on will ever be repaid, but this will be sufficient to sustain the conflict, and the status quo, for another year apparently. There were signs of increased tension in the war-zone as these discussions unfolded and this added some support to prices, not exactly a rally but enough to prevent any further slippage for now.

Malting barley shipments have been surprisingly prompt meaning our pre-Christmas programme has completed early this year and we already have call-off for a January vessel so there are spot opportunities for movement there. Millers have also been active buyers of wheat for later season positions so we will have fresh gaps to fill for these slots as well. A busy end to a difficult year we will all be glad to put behind us.

Have a good week.