Early this week, world wheat futures markets continued to be pressured by speculative long holder selling. Losses extending from the contract highs reached last week have resulted in futures markets losing almost all the price gains they had made since the start of January. Losses for London wheat futures were almost £15/t. However, further political intervention that will disrupt grain flows partnered with soaring Chinese import demand helped generate a rally from the lows. This highlighted how market price volatility may be expected to continue.
You can also listen to the Frontrunner podcast - press play to hear the latest report. The report is read this week by farm trader, Sophie Cath.