Oversupply dominates new year price prospects

摘要

With record world wheat production and carryover in 2015, this season was always going toneed a helping hand from an abnormal event to push prices higher. Unfortunately, the reality has been a slow gradual grind lower, which has been painful for all involved.UK sellers have been slow to come to the market, particularly before Christmas. Prices are low and the market hangs on the prospect of a rally, although none of real significance is in sight. Sympathetic banks seem happy to provide cashflow for the moment, so sitting tight is the prefened option for many.