Currency has stayed largely unchanged this week. Analysts still believe that the £ has now reached the 1.42 level against the $. The wheat markets seemed to have temporarily paused their tendency for large one day swings. It has been reported that the UK are short of approximately 302,000 tonnes of unpurchased wheat. The soya market is still being heavily led by corn.

Sterling started the week losing some ground against the €. Wheat markets turned from their downward trend to begin creeping back up. The report stated that the UK would be short of around 302,000 tonnes of wheat. Soya has been led by the corn market, turning back into the green. The US plantings are below the ‘magic’ 90 Mln.

Currency has remained pretty stable week on week holding at 1.41 against the $ and 1.16 against the €. Grain markets have continued to track lower this week following the USDA report. Soya has followed the same pattern as corn and wheat to move lower after the recent USDA report. There are real concerns over the supply of sunflower products from Europe with Black Sea areas reportedly considering an export ban.

The £ has been strong this week breaking the $1.41 and €1.16 mark. The grain markets have seen huge swings in the week, ending on an upward trend again. China have also begun buying large parcels of new crop wheat. The second half of the week saw strong sell offs from funds pre the USDA report. Soya, like the wheat markets, has not failed to give some surprises this week.

The £ has dipped slightly this week after the Bank of England announced that they do not foresee any policy change before 2023. Grain markets have continued to see significant volatility in the week. The corn situation continues to dictate the wheat markets. The soya/corn ratio in the US is now looking unfavourable towards soya.

Currency has remained relatively flat this week. Grain prices have seen a particularly volatile week. Liffe Nov futures closing back down £6 in one day. There is now an improved rain forecast across the UK and Europe. Soya prices continue to take their lead from the grain markets.

Currency continues to look volatile and closely linked to Covid. Grain prices are now very much in a full-blown weather market. Russia has threatened to close off the Kerch Straight. The UK wheat market has of course taken its lead from the rest of the worlds market. Soya prices have partially followed the grain markets this week.

Sterling took a step back this week falling to 6 week lows against both the € and the $. This shows how closely currency is still linked with the pandemic. Wheat markets have been steadily firming this week on continued weather fears across US, Canada and Europe. Soya prices have eased back after their initial highs following the USDA report.

Currency continues to be range bound. Economic data as UK eases lockdown could be the main driver. Wheat has a mixed week. USDA report has contradicted the IGC report. 5% increase on 2020 plantings, but 4th lowest on record. Soya was up at the end of the week after USDA report on meal and beans. Market optimistic for good South American yield. Internet searches for Easter trees see tenfold increase compared with 2020.

Currency continues in that same small one-point range. Wheat has seen a mixed week, trending lower before recovering slightly. The old crop is falling faster than the new crop. Soya prices have been moving lower as the Brazilian story runs out of steam. Looking further ahead though, US farmers are expected to plant 90 Mln Acres this coming season.