- Location
- Stoneleigh
Markets are very bullish at the moment. Yesterday, commodity markets skyrocketed as Russian troops made the move into Ukrainian territory with a series of attacks.
Both Ukraine and Russia are significant global wheat exporters, forecast to contribute 29% of worldwide wheat shipments this season (USDA). Yesterday’s events will have cause for concern on what will happen to Black Sea exports.
Nearby UK wheat futures closed yesterday at £243.75/t, gaining £10.00/t across the day and £22.85/t across the week so far, resulting in the highest nearby price since at least 1987.
Helen’s analysis yesterday pointed out also that there is still a sizable quantity of agricultural commodities to be shipped from the region and disruptions to exports could ensue. Further to that, it’s not just grains; both Russia and Ukraine are expected to account for 78% of global sunflower exports this season (USDA).
As this Ukrainian-Russian news evolves markets will react accordingly to what happens next. There remains a lot of uncertainty. However, if there is support to global prices this will filter down into domestic ex-farm prices.
The AHDB delivered survey will be published this afternoon with a series of prices and further insight into what this recent global news has done to our physical domestic prices.
Today's Grain Market Daily on our website: Bulls in commodity markets
For information on price direction make sure to subscribe to Grain Market Daily and Market Report from our team.
Both Ukraine and Russia are significant global wheat exporters, forecast to contribute 29% of worldwide wheat shipments this season (USDA). Yesterday’s events will have cause for concern on what will happen to Black Sea exports.
Nearby UK wheat futures closed yesterday at £243.75/t, gaining £10.00/t across the day and £22.85/t across the week so far, resulting in the highest nearby price since at least 1987.
Helen’s analysis yesterday pointed out also that there is still a sizable quantity of agricultural commodities to be shipped from the region and disruptions to exports could ensue. Further to that, it’s not just grains; both Russia and Ukraine are expected to account for 78% of global sunflower exports this season (USDA).
As this Ukrainian-Russian news evolves markets will react accordingly to what happens next. There remains a lot of uncertainty. However, if there is support to global prices this will filter down into domestic ex-farm prices.
The AHDB delivered survey will be published this afternoon with a series of prices and further insight into what this recent global news has done to our physical domestic prices.
Today's Grain Market Daily on our website: Bulls in commodity markets
For information on price direction make sure to subscribe to Grain Market Daily and Market Report from our team.