3/10/2023Frontrunner - 10th March 2023
World wheat futures markets continued to fall this week and have now lost 14% of their value since the end of 2022. The primary drivers for the market negativity are twofold. Firstly, the ongoing competition from cheap Russian wheat exports following Russia’s record 2022 wheat crop; and secondly, a strong belief the Ukraine Black Sea export deal with Russia and the UN will renew at the end of next week. If this is the case, Ukraine will continue to ship cheaply offered wheat, corn and other grains on world markets. This makes it likely the US, the EU and other major exporters will be left with burdensome year end stocks. During current intense volatility, markets can move significantly - sometimes in a matter of minutes and outside regular hours. Our MyFarm platform is free to Frontier customers and offers 24-7 access to market information and live grain prices, as well as the option to sell grain at a time that's more convenient. Find out more: www.frontierag.co.uk/myfarminfoFor other topical updates and advice from our experts, subscribe to our blog: www.frontierag.co.uk/blog/subscribeFollow Frontier Agriculture on Twitter at www.twitter.com/FrontierAg