Dry weather in the US is causing concern to the US winter crop. The UK wheat market has firmed on the back of this.
On a positive note the dry weather has increased the pace of planting on maize crops.
Global wheat production is anticipated to increase for the 2021/2022 crop with increased plantings in the EU and Black Sea area.
The Brazilian soya crop keeps getting bigger and after last weeks USDA report production is pegged at 136 million tonnes compared to 134 million tonnes previously.
Even though rapemeal has firmed slightly it still remains good value for next winter. Potentially it is worth while putting on some forward cover for this.
The early part of summer should also be looked at in regard to forward cover for soya.
If you have any queries please do not hesitate to ask.
Contact the office on 01409 254 300 for on farm prices.