Grain markets continue to be full of twists and turns.
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Another week of difficult grain markets as all prices weakened for a period. Futures prices remain on the floor or are edging even lower because of supply pressure. International physical prices weakened, but these have largely recovered, as sellers reduce supplies and shippers are met with increasing demand following big tenders.
The big market challenge is the overall supply and price of maize, which offers value to buyers for the next 18 months or so.
That said, MATIF futures increased over the past week. UK numbers indicate that wheat for export is likely to be down by 35% this year due to increasing home demand. And, in the US, wheat area for 2018 is expected to fall to a record low. But the major sentiment is global supply and 2018 is not yet a factor in the market.
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Native grain prices remained broadly similar this week, with relatively little trade taking place. Spot prices through to January remain at €175/t and €173/t for wheat and barley respectively. Positions for May might be regarded as weakening, with wheat now nominally at €176 to €177/t and barley at €175/t. The gap between wheat and barley has virtually gone due to the surplus of wheat and the scarcity of barley.
UK delivered feed wheat prices varied last week, with East Anglia down by £1.50/t to £139.50/t while Yorkshire is up £1/t at £150/t. And the AHDB ex-farm prices remained broadly similar at £138.40/t for wheat and £124/t for barley.
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Another week of difficult grain markets as all prices weakened for a period. Futures prices remain on the floor or are edging even lower because of supply pressure. International physical prices weakened, but these have largely recovered, as sellers reduce supplies and shippers are met with increasing demand following big tenders.
The big market challenge is the overall supply and price of maize, which offers value to buyers for the next 18 months or so.
That said, MATIF futures increased over the past week. UK numbers indicate that wheat for export is likely to be down by 35% this year due to increasing home demand. And, in the US, wheat area for 2018 is expected to fall to a record low. But the major sentiment is global supply and 2018 is not yet a factor in the market.
Native grain prices remained broadly similar this week, with relatively little trade taking place. Spot prices through to January remain at €175/t and €173/t for wheat and barley respectively. Positions for May might be regarded as weakening, with wheat now nominally at €176 to €177/t and barley at €175/t. The gap between wheat and barley has virtually gone due to the surplus of wheat and the scarcity of barley.
UK delivered feed wheat prices varied last week, with East Anglia down by £1.50/t to £139.50/t while Yorkshire is up £1/t at £150/t. And the AHDB ex-farm prices remained broadly similar at £138.40/t for wheat and £124/t for barley.
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