Market Update

 

The continued dry weather has been a complete contrast to ground conditions this time last year, allowing for a near perfect entry for spring crops, with planting underway for many potato growers. The rain we have had so far this week will be much needed for both winter and spring crops to allow them to get hold of the nitrogen which many have been busy top-dressing over the last week.

 

Wheat

Old crop prices have fallen this week on the back of the USDA report released last Friday. It suggested that wheat stocks from harvest 2018 are higher than predicted and although there has been some concern with flooding in the Mid-West US, 56% of winter wheat crops are in good or excellent condition, indicating that the recent bad weather will not have much of an impact. Spring weather will be crucial for final yield predictions whilst much of the supply and demand in the US will depend on any potential trade deal with China.

Despite moisture concerns in some regions, winter crops across Europe and Russia are generally looking very well with winter cereals in the best condition for 5 years at this stage of the season in the Ukraine. The latest crop condition report from AHDB for British cereals and oilseeds suggests that 92% of the winter wheat crop is in good to excellent condition.

New crop wheat prices have traded in a very narrow band since February with a stand off between buyers and sellers. With no major weather or crop concerns at present, there is potential for a big harvest. Any currency fluctuations over the coming weeks as a decision over Brexit (or no Brexit) is made, along with any global weather stories that emerge is likely to impact the new crop price.

 

 

 

Barley

Old crop prices remain under pressure at a significant discount to feed wheat. A mild winter and lack of export have contributed to a fall over £30/t since December.

The new crop barley market is slow to develop with current prices failing to encourage sellers.

We have a range of options for both drying and storage of feed barley, please contact the office for more details.

 

OSR

Prices remain well under the levels seen earlier in the year. Buyers seem to have a reasonable amount of cover for the coming months.

We look for a weakening of currency, weather issues or a trade deal agreement between the US and China to help improve the current market.

New crop prices start at just under £300/t, a level which is failing to encourage farmer selling.                               With only 57% of the GB oilseed rape crop rated as good to excellent in the recent ADAS crop condition report, we look for an upward movement in the market to encourage sellers.

 

Beans

The majority of the spring bean crop has now been drilled into good seedbed conditions. The overall area is likely to be down on last year due to 'greening' legislation changes which may have taken the appeal of growing beans away from growers.

We have a range of marketing options for beans and firmly believe they represent a valuable break crop, especially given the current challenges of establishing oilseed rape crops.                                                                                      Although bean yields were very disappointing in harvest 2018, many growers have achieved average yields of 5-7t/ha on an average year.

Please contact the office for up to date information. 


Fertiliser

We continue to sell 'top-up' orders of all grades of NPK products.

Over the past few weeks, there have been some issues with delivery times. We pride ourselves on prompt delivery, which has resulted in satisfying demand.

A number of new offers have become available in recent weeks. These include a granular 33.5% AN product.

Please contact the office for any specific enquiries.

 

Seed

We have had another busy spring seed campaign. As we write this article, the last few orders of spring barley are being processed.

Although autumn seems a while away, there is a lot going on in the seed trade and we intend to keep you fully informed in the coming weeks.

We have some new autumn winter wheat varieties available for autumn 2019, please ring the office for more details and have a look at some we have to offer here. https://www.jamesmortimer.co.uk/seed-news/213/new-winter-wheat-varieties-for-autumn-2019

 

KWS UK Ltd - Oilseed Establishment Partnership (OEP)

James Mortimer Ltd have an exciting opportunity for next season with the KWS UK Ltd Oilseed Establishment Partnership (OEP).              

With oilseed rape crops becoming an ever increasing challenge to establish due to cabbage stem flea beetle pressure following the ban of neonicotinoids, KWS UK Ltd have launched a new scheme which spreads the risk of establishing OSR between the grower, merchant and breeder with lower initial establishment costs through their new candidate variety - BLAZEN. Please click here for more details. https://www.jamesmortimer.co.uk/seed-news/197/oilseed-establishment-partnership-oep-19th-march-2019

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