Futures Close Report  11th May  2018

UK old crop wheat markets remain very well bid and otherwise illiquid – grain is travelling long distance as market premiums continue to climb.

US sorghum cargos are being sold into Spain as a result of China Anti Dumping tariffs – US Sales are reported to be circa 180k tonnes so far with the possibility of more – Spain normally imports Feed Wheat from Northern Europe during a normal season,  so increasing Sorghum imports into Spain could distort the EU demand picture.

Ukrainian farmers have planted 6.2 million hectares of spring grains which is circa 84% of the total area as of Friday last week.   Ukraine, the world’s third-largest grain exporter, said the area covered by spring and winter grains would exceed 14 million hectares this year.