Monday Market Briefing - 12th June 2023

Friday's USDA report did little to ignite any fresh information into grain markets. Corn & soybean numbers were left unchanged in the US, and only marginal crop adjustments in South America. US wheat production numbers tend to be high in drought years - such as this season, and similar to the UK crop of last year with record bushel weights. Current weather patterns look set for another 10 days, so we would expect good UK wheat yields, particularly with the high rainfall experienced over the winter. 

Our Grain Marketing breakfast meetings are underway, and the first of our first Crop Trials took place at Plumpton College last week. Included in the presentation is a section on Ukraine's loss of cereal production which pushed values higher last year. In turn, record prices have stimulated plantings for this season, encouraging other exporting nations of corn and wheat to offset this shortfall from the Black Sea region.

Please sign up for one of the upcoming meetings if you haven't already, and the whole team at Bartholomews look forward to seeing you at the Trials dates.

Have a good week