Grain traders eyeing weather and currency

Gleadell Agriculture has just completed loading the MV RIG with 3,000t of Group 1 milling wheat at the Port of Dover, destined for a customer in Scotland.

In early January, Gleadell Agriculture completed loading the MV RIG with 3,000t of Group 1 milling wheat at the Port of Dover, destined for a customer in Scotland.

Cereal crops in Europe are increasing, but export demand remains slow and the MATIF stores are still closed for intake.

The global market for urea has shown its first downward movement since April, following lower prices in the US for barge cargoes.

Egyptian producers of granular urea fertiliser are now back online or in the process of restarting production, raising the outlook of increased supply for export.

The US Department of Agriculture (USDA) has surprised the market by reducing both US and global wheat stocks.