SMARTER THAN THE AVERAGE BEAR

The New Crop wheat market appears to have stalled. After a brief rally at the end of May, the value of wheat for September move has now slipped well below most farmers perceived ideas of a good price.  Based on the values received through last year’s drought affected harvest it is easy to see why.  The price of September 2018 wheat on the 15th of August of that year was around £180 per tonne...
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PRIVATE FRAZER

We wrote last month that the UK/Yorkshire grain trade was becalmed, locked in the grip of a Mexican Standoff. One month on and it looks very much as though the mill consumers hold all the chips at the Casino table.  At the time of writing there is not one consumer mill in Yorkshire prepared to put a price on spot feed wheat for delivery in May or June.  Traditionally, May is a very large month...
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THE MEXICAN STANDOFF

By definition (Wikipedia) ‘A Mexican standoff is a confrontation in which no strategy exists that allows any party to achieve victory.  As a result, all participants need to maintain the strategic tension, which remains unresolved until some outside event makes it possible to resolve it.’ The UK grain trade is currently becalmed, Easter is upon us, many in the merchant trade have left their...
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TIME

For those of you that did not take your profit last month and are still at the table in the farming casino, the grain markets continue to trend ever downward. Domestically, the UK wheat market is weighed down with thoughts of plentiful supply.  A UK wheat production figure of around 14 million tonnes, aligned with six months import figures of 1.17 million tonnes of wheat and record maize imports...
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THE FARMING CASINO

It may seem a strange place to begin when discussing the grain market, but the value of Sterling Vs the Euro, despite the ongoing political manoeuvring and upset, appears reluctant to fall below the recent levels of EUR1.13-1.14.  In fact, sterling is attempting to rally at even the slightest bit of positive Brexit news. Prior to the UK Brexit referendum in June 2016, sterling was trading at...
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