Trading 'tricky' as markets remain volatile
The last three weeks have been the most volatile that all the markets we trade in have ever seen.
In some trading days we have seen fluctuations of over £24 per tonne which makes the job of trading a little tricky.
Fertiliser? Well, what can you say? We all thought it was bad enough at £280 but with N now around £1,000 per tonne we are talking very scary figures.
What of the future? New crop wheat is somewhere over £255 and if they fail to drill in the Ukraine I wonder how far that will go. OSR is at stunning levels with new crop over £610, but beware of a peace deal in the Ukraine, we saw a number of times last week that talk of peace had a negative impact on the market.
I hope, as I am sure you all do, that a peace deal cannot come soon enough and my thoughts are with the people of the Ukraine and the needless horrors they are having to live through.
David Roberts of G.O Davies (Westbury) Ltd
