AGM Blog



Week Beginning Monday 15th July 2019

Posted by on Jul 15, 2019 in AGM News | 0 comments

Week Beginning Monday 15th July 2019

    TODAY’S LONDON LIFFE WHEAT FUTURES: November 2019 – £149.50/T May 2020 – £154.05/T November 2020 – £151.75/T March – 2021 – £157.25/T   From what I can gather online from the twittersphere, winter barley harvesting is now as far north as Grantham with the bulk of the action in Norfolk and the South Coast. Yields are anywhere from 7 tonnes per hectare to 10 tonnes per hectare alongside good bushel weights. Regardless, it remains early days yet and the bulk of the crops harvested are 6 row...

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SMARTER THAN THE AVERAGE BEAR

Posted by on Jun 27, 2019 in AGM News | 0 comments

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 ex farm. Currently, September 2019 wheat is some way below that figure. The key words above are undoubtedly ‘perceived ideas of a good price’. ...

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PRIVATE FRAZER

Posted by on Jun 27, 2019 in AGM News | 0 comments

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 for forward sales to be made into, and this year with forward values way above the norm has been no different. Add into the equation the huge amount...

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THE MEXICAN STANDOFF

Posted by on Jun 27, 2019 in AGM News | 0 comments

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 desks for family holidays.  Bored of the never-ending conversations surrounding Brexit and the lack of market direction but secure in the knowledge...

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TIME

Posted by on Jun 27, 2019 in AGM News | 0 comments

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 for the same period of 1.29 million tonnes push prices ever downward. Globally, key world exporters of wheat and maize have trimmed their prices to...

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THE FARMING CASINO

Posted by on Jun 27, 2019 in AGM News | 0 comments

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 levels in excess of EUR1.30. In physical terms, this represents £25/T on the value of a tonne of feed wheat in the farm shed. Currently the UK grain...

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Week Beginning Monday 10th June 2019

Posted by on Jun 10, 2019 in AGM News | 0 comments

Week Beginning Monday 10th June 2019

THIS MORNING’S LONDON LIFFE WHEAT FUTURES: JULY 2019 – £150.00/T – £5.40/T lower than the week previous NOV 2019 – £150.00/T – £6.60/T lower than the week previous MAY 2020 – £158.70/T – £4.10/T lower than the week previous NOV 2020 – £155.20/T – £3.30/T lower than the week previous   POUND Vs EURO MONDAY 10TH JUNE – 1.1221 MONDAY 3RD JUNE – 1.1304 MONDAY 20TH MAY – 1.1418 MONDAY 13TH MAY – 1.1584 TUESDAY 7TH MAY – 1.1696 MONDAY 29th APRIL – 1.1584 TUESDAY 23RD APRIL...

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Week Beginning Monday 29th April 2019

Posted by on Apr 29, 2019 in AGM News | 0 comments

Week Beginning Monday 29th April 2019

THIS MORNING’S LONDON LIFFE WHEAT FUTURES: MAY 2019 – £166.00/T (£3.90/T higher). NOVEMBER 2019 – £147.50T (£0.60/T higher). MAY 2020 – £153.00/T (£1.00/T lower). NOV 2020 – £151.85/T (£0.85/T higher)   POUND Vs EURO THIS MORNING – 1.1584 TUESDAY 23RD APRIL – 1.1558 MONDAY 15TH APRIL – 1.1573 MONDAY 8TH APRIL – 1.1622 MONDAY 1ST APRIL – 1.1623 MONDAY 25TH MARCH – 1.1637 MONDAY 19TH MARCH – 1.1676   According to AHDB, all grains have fallen globally this month as expectations for a...

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Week Beginning Tuesday 23rd April 2019

Posted by on Apr 23, 2019 in AGM News | 0 comments

Week Beginning Tuesday 23rd April 2019

THIS MORNING’S LONDON LIFFE WHEAT FUTURES: MAY 2019 – £162.10/T (£0.40/T lower since last Monday’s opening trade). NOVEMBER 2019 – £146.90/T (£1.35/T lower since last Monday’s opening trade.) MAY 2020 – £154.00/T (£0.60/T higher since last Monday’s opening trade.) NOV 2020 – £150.50/T (£1.00/T higher since last Monday’s opening trade)   POUND Vs EURO TUESDAY 23RD APRIL – 1.1558 MONDAY 15TH APRIL – 1.1573 MONDAY 8TH APRIL – 1.1622 MONDAY 1ST APRIL – 1.1623 MONDAY 25TH MARCH –...

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Mexican Standoff

Posted by on Apr 23, 2019 in AGM News | 0 comments

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 desks for family holidays.  Bored of the never-ending conversations surrounding Brexit and the lack of market direction but secure in the knowledge...

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