Cereals

Scottish Harvest Estimate The rules of international trade appear to have been swept aside, or at least ignored, since the tariffs from the US were implemented in early April. The World Trade Organization (WTO), of which the US is a member along with 165 other countries covering 98% of world trade, has existed to lower…

Global overview Although we’ve not seen it here, global grain prices have risen in recent weeks reaching multi-month highs due to tightening stocks and weather-related risks. The USDA’s latest reports indicate declining stock levels providing strong market support. Agricultural markets are expected to maintain a firm tone, possibly stronger than in the past two years….

U.S Tariff uncertainty It has been a strong run for maize and soya prices while wheat markets are simply ‘followers’ for now.  The focus is indeed very much on the South American weather and Trump’s decisions on tariffs that would directly affect the maize and soya markets.  Wheat is in a ‘wait and see’ position…

Political alliances define trading blocs The recent grain trade conference in Dubai highlighted the deepening fractures in global economic and political systems. The decline of globalization is giving way to a “duopoly” of power, with the G7 nations (Canada, France, Germany, Italy, Japan, the UK, and the U.S.) on one side and the BRICS bloc…

Slow Europe export pace The International Grains Council tightened its global wheat outlook on supply concerns, while consumption remains firm.  Global grain ending stocks for the marketing year 2024-25 are projected to decline to a 10-year low and a 3.5% decrease from last year.  Total grains exports are similarly projected to dip year on year…