Monday Market briefing - 16th August

Due to the late nature of this year’s season, and untimely summer rains, the UK harvest is finally upon us. Inevitably all crops seem to be ripening together and growers are working around the clock to get wheat, barley and oats off the field as quickly as possible.  Very high moisture levels are being seen across all grains, and in some early maturing wheats quality has deteriorated. However, hagberg falling numbers remain robust throughout last weekend so it is likely that the UK returns to being an exporter of milling wheat this season. Early samples of malting barley appear very high quality, and with the heavy deterioration of French barley crops, we expect prices to remain firm throughout this season.

Last week’s USDA report surprized the grains market with drastic reductions of corn production figures in Brazil and the USA. In addition, wheat crops in Russia, Canada and the EU also saw yield reductions which supported grain values around the world. World ending stocks of corn and wheat have now dropped to historic low levels which will add more volatility to markets recovering from the effects of consumption from coronavirus. As UK prices strengthen, creating new contract highs for the year, we anticipate some fantastic opportunities for growers to lock in values above and beyond budget figures.

Please contact your farm trader to arrange sampling, and market quality grain accordingly. 

Have a good week.