Mixed fortunes for EU wheat farmers as Brexit weighs

Location
UK
Cereals
  • UK wheat producers are feeling the impact of a Brexit standoff from buyers as uncertainty grows ahead of a looming Brexit deadline and exporters struggle to place UK wheat.
  • Merchants are under pressure to find homes and storage for a larger than expected wheat crop with aggressive harvest selling adding to the pressure.
  • The spread between UK and EU Maize is at -£16/T, the widest in three years and the cheapest vs EU wheat since July 2017.
  • In the US, yesterday crop progress report showed a 1% increase in both corn and soybean crops conditions at 57% and 55% respectively following rains last week. Both remain behind normal maturity by 2-3 weeks.
  • Egypts latest wheat tender for wheat saw French origin the cheapest at $193.86 for 60KT.



Oilseeds
  • Soybean prices were under pressure as conditions in the US improved and Trade War.
  • Veg oils experience a sell off with palm trading lower.
  • Domestic meal prices were softer over the past week echoing the global pressure.





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Three crop rule derogation for 2020

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Written by Jamie Day

Defra secretary George Eustice’s decision to relax the three-crop rule arable diversification requirement in England for 2020 has been welcomed by farm leaders, despite the minister’s earlier reluctance to take this action. Scotland and the Republic of Ireland had already granted the concession in view of the wet autumn that prevented many farmers from fulfilling […]...
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