Monday Market Briefing - 4th December

Wheat futures moved an uninspiring 20p across the week, which sums matters up pretty well at this stage in the season. We have three ships loading with us this week and attention everywhere is really focussed now on completing the pre-Christmas programme in as good order as possible.

The end of the cold snap means a return to wet and mild weather, and the French share in our struggles with only 80% of their own wheat crop in the ground going into December. The rain in this weeks forecast won’t help progress, a fact which might get the markets attention in the New Year. After a promising start, Australia’s wheat harvest has been interrupted by heavy rains , meaning some significant downgrades to feed down-under as well as yield loss. This news is probably what had China sniffing around US markets again late last week and after a couple of wobbly weeks, we’ve probably seen the bottom of the market for the time being.

Have a good week.