Another quiet month has seen little to no change in the value of feed wheat in the North East; good demand from Ensus continues to maintain prices at £145-147/t (depending on location) and with very little carry further forward it seems unlikely that there will be much movement in either direction over the coming months. New crop is certainly a far more interesting prospect: the condition of the UK wheat crop, whilst not being a disaster, does not give you the impression that a record harvest is in the offing. Provided that the bio-ethanol industry in the North East continues to fuel domestic demand and the currency remains stable, new crop wheat values will be well supported at £145-147 for

US grain markets close firmer, whilst EU markets close largely unchanged on the week, as US/SA weather continue to dominate the focus. Russian 12.5% protein wheat values firm to circa $200 FOB (up circa 5% since the start of Jan). US/EU wheat continue to struggle to compete. US corn market continues to appear finely balanced, with strong export/ethanol/feeding demand underpinning prices and large amounts of unsold corn hanging over the trade. Iraq buys 150tmt hard wheat (Australian/Canadian/US origin). US funds continue to largely cover in short positions – now estimated -75,900 (CBOT SRW wheat), 15,000 (CBOT corn). Strategie Grains place EU 2017/18 wheat crop at 141.7mmt, versus 141.8mmt la

February and March Training Courses For further information or to book a place on any of the courses below please contact Katherine Walsingham:- E: katherine@coastal-grains.co.uk T: 01668 213568 Tuesday 27th February 2018 - 6 Candidates Required PA6- 'Use of hand-held applicators' (knapsack sprayer). This is the theory day 9am - 4.30pm with a 2 hour individual practical assessment on Wednesday 28th February or Monday 5th March (timeslots to be allocated). Venue: North East Grains, Longhirst, Morpeth NE61 3HX Friday 9th March 2018 - 12 Candidates Required PA1- 'Safe Use of Pesticides'. Please note PA1 must be completed before enrolling on any other applicator courses eg; PA2, PA4S, PA6. This

An up and down week which saw a fairly neutral WASDE report published on Thursday. An embryonic weather story around dryness in the HRW belt attracted some attention prompting some significant fund short covering. Firstly to the report highlights: WASDE reported slightly increased World wheat production from 757.01 to 758.25 million tonnes. A decrease in global wheat ending stocks was noted of –1.92 million at 266.10 mmt. An expected increase in US exports did not materialise (despite a weaker dollar) with Russian wheat continuing to dominate export markets The COT report as of Feb 6th showed managed money still net short 83.4 k-ctrs of Chgo wheat, reduced from net short 96.8 k the previous

US markets rally strongly as a sharp drop in winter wheat conditions helps spark fund short covering, before selling-off late in the week. Egypt buys 180tmt wheat, largely Russian origin. Russian cargo prices firm to new highs earlier in the week, with Saudi Arabia reportedly tendering for 715tmt wheat Apr-Jun on thurs/fri. US funds estimated net short 123.7k wheat, 143.5k corn. A significant reduction in position on the previous week. Informa estimate the Brazilian corn crop at 88mmt (USDA 95mmt). Argentine corn crop placed at 37mmt (USDA 42mmt). IKAR place Russian wheat exports estimate at 36.5mmt for the season – a significant slow-down in pace would be required to keep exports to this nu

Full load of Laureate Spring Barley leaving the plant this morning destined for Scotland. Spring Irina and Concerto varieties are left to sell and possibly Ovation for large order.... Over Yeared Autumn Over Yeared Costello, Zyatt and Revelation available for this Autumn's Orders Call Peter Collins on 07957819397