Written Commentary
London Wheat Report
According to the BBC, Tata Steel is to push ahead with plans to close both blast furnaces at its Port Talbot works in south Wales. This would lead to job losses for around 3000 people. An amber warning for heavy snow is in place in Scotland after most of the UK had the coldest night of winter so far.
Wheat shipments via the Suez Canal fell by almost 40% in the first half of January to 0.5 million metric tons due to attacks in the Red Sea and Gulf of Aden, the World Trade Organization said on Thursday on social media platform X.
Ukrainian maritime grain exports are expected to fall by around 20% in January from the previous month due to the crisis in the Red Sea and the New Year holidays, a senior Ukrainian government official said on Thursday.
Matif rapeseed found a good amount of support, trading up nearly 10 Euros. Matif wheat had a mixed day and didn’t really move in either direction. Most months traded within a Euro of the previous days settlement. London was supported today and like yesterday, volume was strong. In total across the curve, volume was over 500 lots. May 25 has seen a flurry of trading of late and today it continued, another 145 lots crossing the line @ 207. May/ Nov spread narrowed as May found more support than November.
Norfolk Grains dinner this evening, enjoy all those that are going.
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