Futures Close Report 2nd August

Markets remain volatile –  US Markets wheat markets spiked yesterday on misinterpreted comments on a possible restriction in Ukrainian wheat exports  which Ukraine government have so far denied.  US Markets closed near a three year high up almost 7% on the week to date.

Anecdotal reports for UK wheat so far still reporting surprising yields in places, but it is clear that crops are very variable with a lot depending on land type.