Good weather and improved crop conditions across the northern hemisphere continue to provide greater production confidence as harvest approaches.
In the US, risk remains and while spring planting has been above average, soil moisture remains a concern. Although further rainfall is forecast across key production areas, more rainfall is need in the US and Canada.
Although China took a pause last week from making large daily purchases of US corn, China’s purchases so far for the 2021/2022 season have reached a pre harvest record of 10.74MT.
Tight old crop markets and the prospects for increasing supply in 2021/2022 are keeping the soy market very unpredictable.
UK wheat crops look in good condition, however price direction will be dictated by the global wheat and maize price.
The pound remains relatively strong against other currencies, particularly the dollar.
If you have any queries please do not hesitate to ask.
Contact the office on 01409 254 300 for on farm prices.