Markets try to shake off harvest pressure - charts and prices

CRM AgriCommodities

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Arable Farmer
Location
UK

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Cereals
  • Wheat markets are doing there best to shake off harvest pressure on both sides of the Atlantic with prices at or near multi-month lows.
  • It is worth noting that funds are holding their shortest position since May, this can increase the risk of sharp fund buy backs which can provide sellers with opportunities.
  • Large global supplies are currently hindering the wheat markets attempts to make a recovery.
  • Brazil is looking for government approval on a duty-free quota to import 750KT of wheat after recent rains in the South (see chart of the day).
  • Farmers in the West of the Corn Belt are making good pace with their harvests supported by decent weather.
  • Egypt is to issue new guidelines on imports of wheat in order to avoid further import disruptions due to contaminated shipments.
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Oilseeds

  • Oilseeds supported as veg oil prices were boosted by hopes of higher demand from Asia.
  • China imported 8MT of soybeans in September which was a record with the majority coming from Brazil.
  • October will end much drier than normal in the key soybean producing region of Matto Grosso, Brazil.
Chart of the day #1 – Brazilian rainfall

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Futures & Options prices

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SFI - What % were you taking out of production?

  • 0 %

    Votes: 78 42.9%
  • Up to 25%

    Votes: 63 34.6%
  • 25-50%

    Votes: 30 16.5%
  • 50-75%

    Votes: 3 1.6%
  • 75-100%

    Votes: 3 1.6%
  • 100% I’ve had enough of farming!

    Votes: 5 2.7%

Red Tractor drops launch of green farming scheme amid anger from farmers

  • 1,286
  • 1
As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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