Another firm Friday led us to a higher close on the week again. Whereas the July rally was led by short position covering, we are now in a different phase with the market being driven by speculative buyers of new long positions.
Read MorePrices bobble along sideways for the time being with Nov 26 parked just under £200 on LIFFE. US corn crops are enjoying a benign spell of weather which takes a lot of the stress out of the market, in contrast the impact of the summer’s hot weather on European supply is becoming clear.
Read MoreFriday was a turbulent day opening higher before reported talks between Ukraine and Russia aimed at creating safe shipping lanes in the Black Sea halted the rally. We closed £5 lower but still up on the week.
Read MoreA £10 uptick on the week took us to new highs for the 2026 crop. Concerns at the increased level of shipping attacks in the Black Sea are the driver as both sides hit targets seemingly at will using relatively cheap drone technology, causing a disproportionate level of disruption.
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 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 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 MoreSpot markets plod sideways, last weeks WASDE did indeed forecast the heavy year end stocks we are all expecting this summer.
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.
Read MoreWe tested season lows again last week, there is just enough farm selling pressure to keep a lid on things as businesses plan their cash requirements for the coming months. Nearby openings are limited but there is still trade to be done on malting barley in the south-east.
Read MoreWe are bumping along the bottom again after a quiet week dominated by the US thanks-giving shutdown.
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Markets held onto the previous weeks gains without looking like they wanted to push higher, US prices had rallied as the Chinese waved off Trump at the airport, but they were already taking advantage of a corresponding dip in Brazilian prices to buy more soybeans there.
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