Frontrunner Frontier Agriculture

Last week's United States Department of Agriculture (USDA) report brought minimal shifts in the global wheat landscape. While world wheat production saw a slight increase to 787.36 million tonnes and consumption rose marginally to 800.1 million tonnes, end stocks dipped to 258.27 million tonnes. Notably, the adjustments made for India hint at a potentially bullish scenario for world wheat markets.
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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The latest weekly crop condition and progress report from the US highlights a positive outlook for production potential. Winter wheat maintained a steady condition, seen 56% ‘good/excellent’, which is unchanged on the week. However, this is significantly higher than the same period last year when just 27% of the crop was seen looking this well. Kansas is the number one producing state and edged one point higher on the week, to 49% ‘good/excellent’.
Spring wheat and corn planting is off to a good start with the US spring wheat area 3% planted, as expected, up from 1% last week and last year, and unchanged from the five year average.
The US corn area is 3% planted, which is the same as last year but ahead of the five-year average of 2%. It is important to bear in mind that the United States Department of Agriculture (USDA) sees US farmers notably cutting their corn planted area to just over 90 million acres, down from 94.6 million acres last year.
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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The United States Department of Agriculture (USDA) presented a bullish set of data before the Easter weekend and sent futures prices higher.
On 1st March, US wheat stocks were marginally higher than average expectations at 1.087 billion bushels versus 1.044 billion bushels. This was also up on last year which was 0.941 billion bushels.
The surprises for the market didn’t come from the stocks though, rather it was the lower-than-expected 2024 US corn and US winter wheat prospective planted areas. Winter wheat is seen down to 34.135 million acres which is at the bottom end of trade guesses - these ranged from 34 million acres to 38.37 million acres and notably the Ag Forum estimated 34.425 million acres. 
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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World wheat futures markets enjoyed a short-lived price spike at the end of last week. Early on Monday, follow-through buying took Paris futures to their highest since 7th February and 22 euros above the contract low seen earlier this month. Prices rallied following the news that the largest private Russian grain exporter was in dispute with Russian authorities and was not being issued with the appropriate documentation to allow vessels loaded with grain to sail to their end destinations. 
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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Speculative fund short covering has driven wheat futures higher in recent days, led primarily by gains in the Paris market. The May 2024 contract breached €200/t on Tuesday which was the market’s highest level since 27th February 2024.
The funds had built record short positions in the Paris wheat market but improved physical wheat demand, Black Sea supply concerns and EU political moves have been the catalysts to trigger a need to reduce the exposure to potentially higher prices.  
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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The United States Department of Agriculture (USDA) published its March World Agricultural Supply and Demand Estimates (WASDE) late last Friday afternoon, trimming end stocks for both world wheat and corn which helped to lift prices. 
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

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