Harvest 2015 Update

Continued wet weather at the end of August hampered harvest progress somewhat but yield and quality reports look positive.  Indications show winter wheat yields are above the five year average, at 8.3-8.6t/Ha.  Yields on heavier land have generally performed better with some crops of lighter land suffering from heavy black-grass infestations.

The winter barley harvest is almost complete.  Early reports suggest good yields with excellent malting quality.  However prices remain low with little demand in the EU and the strength of the Pound impacting on the UK’s competitiveness.  Average yields have been in the region of 7.2-7.8t/Ha; the ten year average is 6.5t/Ha.  Spring barley is a little behind with around 20% harvested by the 18^th August; it is usually about 30% completed by this date.

Yields for oats have been similar to average.  Winter oilseed rape crop yields and quality are mixed.  The harvest is almost compete and overall yields are looking slightly up on the 5 year average.  A number of areas (predominately lighter land) have been affected by the cabbage stem flea beetle and high blackgrass burdens.  There have been a number of market forces affecting the oilseed price during August.  Yield expectations for soybeans have been increased in the Midwest and with the Chinese currency being devalued, making imports more expensive, demand could fall dramatically.

Pulse yields and quality are also looking good for both the pea and bean harvest.  However, as expected, with the higher volume of crop (due to more being planted to satisfy Greening) prices are under pressure.

On the Continent the harvest is well underway with yields also looking good.  The French wheat crop looks to be a record one, adding to the already plentiful supply of grain.  With demand lacklustre there seems no sign of a bullish turn in grain markets.