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Contents tagged with Grain Market Daily
2 June 2020
Planting figures for US maize and soyabean crops were slightly below market pre-release estimates, according to Monday’s US crop progress report. Progress has slowed from the rapid pace seen at the start of the season, but remains above the five-year average (2015-19).
29 May 2020
Higher UK wheat supplies due to a large production year and relatively stable demand, combined with our export campaign slowing considerably post October have resulted in a large increase in closing stocks.
28 May 2020
During our barley week last week, we highlighted the increase in trade tensions between China and Australia, with the former potentially imposing a $74/t tariff on imports of Australian barley. This offers a high degree of price risk for domestic barley, particularly given the significant export volumes expected from the UK next year.
27 May 2020
News of countries beginning to ease lockdown measures has enabled vegetable oil prices to show some signs of recovery. UK rapeseed prices have benefitted from both this rise in Paris futures and a weakening GBP/EUR exchange rate.
22 May 2020
In the latest ADAS Crop Condition report, 26% of winter wheat is rated ‘very poor’ or ‘poor’, this is a considerably large increase from last year when it was 5%.
22 May 2020
The closure of the food service industry for almost two months now has reduced demand for meat and grain products. The impact of coronavirus on meat and dairy production will likely translate to a fall in demand for feed grains.
20 May 2020
Yesterday, the UK government released its import tariff schedule, which is due to come into force once the UK leaves the European Union on 31 December 2020. For arable, the tariff schedule largely reflects the adoption of EU tariff rates, transformed by currency, whilst for maize the tariff rate has been liberalised to zero.
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19 May 2020
As is well documented, planting for the 2020 harvest suffered from the persistent rainfall throughout autumn and winter.
15 May 2020
As we conclude our barley week it is fair to say we have a very bearish outlook for the next 12 months.
19 May 2020
We revisit the potential impact of the coronavirus pandemic on UK malting barley demand and how these could last into the 2020/21 marketing season.
13 May 2020
In these current uncertain times, the concerns around how we will leave the EU almost seem like an earlier lifetime. But they are still very real. The UK is scheduled to exit the Union on 31 December 2020 and unless a trade deal is struck, UK barley exports into the EU may be subject to a hefty tariff.
13 May 2020
Yesterday the USDA released their first new-crop supply and demand estimates for global grains. Whilst the market isn’t initially shocked by these, the context does frame a longer-term bearish view to grain markets with growing global stocks and increases in production.