- Location
- Lincolnshire
- US Markets – soy moved higher as funds reportedly bought 4k contracts on good old crop export figures and a dry outlook in central US. Corn also moved slightly higher despite the low export sales of 92k mt (total season 2217m bu). Quality concerns around the world and a lower IGC global production number resulted in wheat moving higher.
- IGC yesterday released their global production numbers: corn reduced by 5m mt to 1.02bn mt, and wheat reduced 3m mt to 732m mt, as dry weather in several key countries limited production.
- The spring wheat crop tour in the US put N Dakota yields @ 38.1bu/ac vs45.7bu/ac last season and a 5 yr avg of 46.8bu/ac. USDA put the US sping wheat crop (ecl Durum) @ 4.303bu/ac in their July report.
- UK wheat harvest begins to come forward in volume in the eastern counties, with anecdotal reports of wheat being fit to cut as far north as Yorkshire, but recent rains just holding back harvest.
London Nov ’17 Settle £147.00/t – up £1.30/t from previous close
Paris Dec ’17 Settle €174.50 – up €1.00/t from previous close
CBOT Dec ’17 Corn Settle $3.8775/bushel – up 3.75 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $5.0475/bushel – up 0.75 cents/bushel from previous close
Currency Today:
GBP EUR 1.1180
GBP USD 1.3090
EUR GBP 0.8939
EUR USD 1.1714