Frontrunner

London wheat futures fell to their lowest level for almost five months this week following the United States Department of Agriculture (USDA) World Agricultural Supply and Demand Estimates (WASDE) report published late last Friday afternoon. The USDA increased its estimate for world wheat production by eight million tonnes on last month’s estimate to a new world total of 779.6 million tonnes. If realised, this will be a record. 

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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By the 7th August, EU wheat exports reached 2.49 million tonnes; this is marginally ahead of last year. However, Brussels state the data is incomplete and private analysts see shipments 30% ahead of last year. French shipments alone are thought to be at least half a million tonnes understated. 

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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One grain ship leaving a Ukrainian Black Sea port was sufficient for world wheat futures markets to come under notable selling pressure this week. US Chicago Board of Trade (CBOT) wheat fell to a six-month low...

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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This week, the world’s wheat futures markets have recovered all the losses they took last Friday. Prices then fell sharply due to Russia and Ukraine signing a deal with Turkey and the United Nations (UN). The deal set out to ship trapped wheat and other grains and oilseeds from Ukraine’s Black Sea ports. However, the market is now reacting to the reality that shipping through these ports will, for some time, be a slow process as there are challenges in securing the resources needed to resume operations whilst the hostilities with Russia continue. Russia launched a missile attack on a vessel in Odessa a day after the deal was signed, which highlighted the fragile nature of the agreement. A week later we are still waiting to see the first vessel to sail.

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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After weeks of talks and negotiations, Turkish officials said that a deal to allow safe Ukrainian grain exports from Black Sea ports would be signed at a ceremony in Istanbul on Friday 22nd July 2022. Russia and Ukraine are reported to have reached agreement with the UN and Turkey although at the time of writing there has been no official confirmation from either Russia or Ukraine and the details of the agreement have not been released. 

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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On Tuesday, the United States Department of Agriculture (USDA) published its July updates to its World Agricultural Supply and Demands Estimates (WASDE) report. Revisions were relatively mild but continued long liquidation on futures markets was encouraged by increases to production estimates and stocks for US wheat and corn, as well as cuts to world demand figures for each commodity resulting in a higher stock than the previous month.

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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The General Authority for Supply Commodities (GASC) adopted a change to its method for wheat import purchases this week, entering into direct talks with exporters in preference to where it usually holds a general purchase tender. Egypt bought around 444,000 tonnes, adding to the 815,000 tonnes it bought last week, split between Russia with 214,000 tonnes, France with 170,000 tonnes and 60,000 tonnes from Romania. Shipment will be between September through to the end of October and contrasts significantly to last season, where early imports were dominated by Russian and Ukrainian supplies. The EU has dominated the sales, securing two thirds of the 1.2 million tonnes made in recent days. This highlights the attraction and importance of competitive grain, free from taxes, quotas or sanctions. Egypt has subsequently bought a further 63,000 tonnes from Germany at $420 including freight and it is rumoured further sizeable German sales have been made to Iran.

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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The General Authority for Supply Commodities (GASC) made its largest single wheat purchase for over 13 years this week, buying 815,000 tonnes for shipment during August, September and October. Last weekend, the Egyptian Minister for Supply and Internal Trade said his country needed to import ten million tonnes of wheat over the next six months while having secured 3.9 million tonnes from local farmers and having wheat reserves sufficient for almost six months.

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

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World wheat futures have fallen sharply this week, as highlighted by the US Chicago Board of Trade (CBOT), for which wheat values declined almost 9.5% since last Friday’s close. These losses have been driven by fears of demand destruction in light of failing economies, unaffordable high commodity prices and grain that remains trapped in Ukraine.

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

For other topical updates and advice from our experts, subscribe to our blog: www.frontierag.co.uk/blog/subscribe

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Late last Friday, the United States Department of Agriculture (USDA) published its June World Agricultural Supply and Demand Estimates (WASDE) report but it made few changes to the previous month’s wheat and corn world balance sheets. However, markets rallied from the low levels of trading before the report, where traders had squared long positions in case of bearish data. 

During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfo

For other topical updates and advice from our experts, subscribe to our blog: www.frontierag.co.uk/blog/subscribe

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