Written Commentary
The Ghost in the Machine Q1 2024
March 19, 2024
ADMISI London Wheat Report for 31 January
- February 1, 2024
- ADMISI Grains Team
- Follow us on Twitter @ADMISI_Ltd
London Wheat Report
Post-Brexit controls on food, plant and animal imports to Britain from the EU have come into force. Health certificates will now be required on EU goods ranging from cut flowers, to fresh produce including meat, fruit and vegetables.
The French government on Wednesday sent armoured vehicles to protect a wholesale food market in Paris in a sign of escalating tensions as farmers blocked highways in France and Belgium and protests spread elsewhere in Europe. Spanish and Italian farmers said they were joining the protest movement which has also hit Germany, aiming to press governments to ease environmental rules and shield them from rising costs and cheap imports.
The European Commission on Wednesday proposed measures to limit agricultural imports from Ukraine and offer greater flexibility on rules for fallow land in a bid to quell protests by angry farmers in France and other EU members. The Commission said it would extend the suspension of import duties on Ukrainian exports for another year to June 2025. They were originally suspended in 2022 to support Ukraine’s economy following the Russian invasion, which has hit shipments via the traditional Black Sea route.
Today, the markets gave back what they posted yesterday. Chicago, Matif and London Ags all repaid yesterday’s gains, and more. Corn, Beans, Chicago wheat, Kansas wheat and Minap wheat were all in the red after yesterday’s green on the screen. May4/Nov4 London wheat spread is widening again now at over £18.
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