Monday Market Briefing - 19th June 2023

Benchmark Nov LIFFE managed to close above £200 on Friday for the first time in a while after a solid week with some consumer interest in nearby positions. Scandinavian traders are very concerned about the lack of rain in that region but elsewhere crops generally look in very good order apart from the well documented issues in Spain. First reports from southern French winter barley harvesting were of good yields and bushel weights. On the face of it there is not much of a story to drive this latest rally much further, but with farmers everywhere in Europe holding out for better prices there is no weight of farm material coming forward to put the market under any strain.

Presumably this game of cat and mouse carries on now into harvest – our own crops appear to have caught up, the rapid colour change in winter barley last week always focusses the mind and we should see the first samples in early July as usual. In the meantime we are in the midst of a packed programme of June events at Bartholomews. This week sees our flagship trials event at Chalton, Hants as well as three more grain marketing breakfasts from our ever popular June series. Details of all of these including how to attend can be found on our website and I encourage everyone to get along to one or more event if you can. It’s always interesting to see the variety trials but this year especially there are major developments in our marketplace to hear about and lots more to see.

We look forward to seeing you over the course of the week.