Monday Market Briefing - 3rd August 2020

New crop milling wheat quality is extremely variable so far this season and emphasises the importance of timely on-farm sampling to allow growers to segregate quality in order to place to the correct markets. Whether you have high yielding, high bushel weight wheat with variable protein or later drilled wheat struggling with grain fill, please contact the Grain Desk on 01243 755650 to arrange sampling for the next few days.

Global futures markets fell away last week as better yields were experienced in the Volga region of Russia. After a poor start, Russian harvest progress has improved, and supplies will continue to be competitive out of the Black Sea region. However, the EU Black Sea export nations of Romania and Bulgaria have their own issues. Romania has good quality, but production is down 3 mln MT on last year (and they are well sold forward for this season already). Bulgaria has good volumes of wheat, but it’s almost all feed quality. Despite the UK being a NET importer of wheat this season, we may be called upon by Spain for specific parcels of wheat to export; namely good quality Group 3 soft wheat, and even UKP.

We have been busy intaking new crop wheat into Shoreham, and plan to start on the malting barley later this week. European maltsters are dealing with a hugely complex malting barley crop this season, and we believe that UK spring barley markets pre-Xmas will be extremely active. Again, understanding your quality is of upmost importance so that growers are ready to act ahead of this year’s Brexit deadline on Dec 31st

Have a good week and stay safe.

Bartholomews Grain Marketing Team