This week, Chicago Board of Trade (CBOT) ended Tuesday 14 cents down, posting its fifth consecutive lower close.

Upbeat US crop condition weighed on the US market, despite a wealth of international trade activity. European markets maintained their value as France proved successful in capturing market share in international trade.

US winter wheat condition improved by one point, increasing to 49% of the area rated 'good/excellent' which is still notably ahead of last year's 36%. 83% is headed which is up on the average 78%. The US wheat harvest is underway with 6% complete, double the pace this time last year and the average.

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/myfarminfo

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French 2024 wheat futures have hit their highest levels since November 2022, driven by further downgrades in Russia's 2024 wheat harvest potential.

While UK and US markets observed a public holiday on Monday, the Paris market surged by nearly 3%. The Russian Grain Union reported frost damage which affected potentially two million hectares. The Institute for Agricultural Market Studies, IKAR, further reduced its Russian wheat production estimate to 81.5 million tonnes, down from 83.5 million tonnes.

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/myfarminfo

For other topical updates and advice from our experts, subscribe to our blog: www.frontierag.co.uk/blog/subscribe

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Further cuts to Russian 2024 wheat production estimates and concerns for Ukraine output have reignited speculative buying interest, sending futures markets higher and setting new recent highs. Chicago Board of Trade (CBOT) wheat rose to its highest since August 2023 and French wheat futures to their highest since February 2023, whilst London futures struggled to match the pace as sterling continued to appreciate versus the euro.

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/myfarminfo

For other topical updates and advice from our experts, subscribe to our blog: www.frontierag.co.uk/blog/subscribe

Follow Frontier Agriculture on Twitter at www.twitter.com/FrontierAg

Hosted on Acast. See acast.com/privacy for more information.