Monday Market Briefing - 2nd November 2020

Markets lost some ground last week, a bit of half-term effect, but also affected by a wide spread sell off across stock markets generally due to the worsening COIVD situation. The U.S. Presidential election this week adds further to the uncertainty not least for the UK as the two candidates have markedly different views on Brexit and our potential trade deal.

England is about to embark on a second period of lock down but the terms so far described are rather less complete than last time, and businesses are better prepared. Food chain logistics will not be disrupted to anything like the same extent and furthermore patterns of consumption have adjusted. That said, it will be difficult for our markets to hold on to recent gains as investors look to move money to safer places, a week of market volatility with a downward slant is our prediction for this week.

Pre-Christmas grain markets are looking fairly sorted now, there is a lot of business to be scheduled and delivered but fresh enquiries might just slow down for a while. We’ve enjoyed a sustained period of strong buying interest since harvest and had lots of opportunities to make good sales ( with the exception of lower protein milling wheats that still await proper market engagement ) so a temporary slow down now is no surprise, it’s a long way to next harvest and best value from here on is likely to be in the New Year.

Have a  good week and stay safe.