- Location
- Lincolnshire
- US markets close - soy lower on talk that higher Brazil crop could increase exports/crush, reducing US export demand. Corn higher on decent export data, slow planting pace. Wheat lower as large global supplies weigh, KCBT firmed on less than expected rain in south plains.
- NASS reported US winter wheat ratings at 31% good/excellent, unchanged on the week, but down from 54% a year ago. Crop was 13% headed vs 9% a week earlier, but down vs 30% last year and 19% as 5-yr average.
- NASS reported US spring wheat plantings at 3% complete vs 3% a week earlier, but down vs 21% last year and 25% as 5-yr average.
- NASS reported US corn plantings at 5% complete, up from 3% a week earlier, but down vs 15% last year and 14% as 5-yr average.
- NASS in its initial report, put US soybean plantings at 2% complete vs 5% last year and 2% as 5-yr average.
- Canada and Mexico said good progress had been made in talks with the US to modernise the NAFTA, and that ministers would meet again this week as they push to wrap up a deal.
- US southern plains weather forecast has a couple of rain chances over the next 5 days, bringing light/moderate totals before quietening down over the weekend. Temperatures look to be running below average.
- US Midwest weather forecast has rains finishing up in the east with dry weather elsewhere, all areas look to remain mainly dry for the second half on the week and the weekend before rains re-emerge. Temperatures look to be running below average over next 5 days.
- Some corn fields in the southern parts of Brazil are at risk of losses due to the lack of rain, with parts of Parana, Brazil’s second largest corn producing state, in the worst state, reported AgRural.
- Paraguay soybeans are flowing to China, though the two countries have no diplomatic relations and no plan to establish them. Sales are not registered as Paraguayan exports, as they either go through Argentina or Uruguay.
- FAS/Astana forecasts Kazakhstani wheat production in 2018-19 at 14mln t, down from 14.8mln t in 2017-18, as wheat area sown is expected to fall, reducing harvested area. Wheat exports for 2018-19 are forecast at 8mln t, unchanged from 2017-18.
London May ’18 Settle £143.20/t – up £0.20/tonne from previous close
Paris May ’18 Settle €163.00 – unchanged from previous close
CBOT May ’18 Corn Settle - $3.7850/bushel – up 2.00 cents/bushel from previous close
CBOT May ’18 Wheat Settle – $4.6150/bushel – down 1.75 cents/bushel from previous close
Currency Today:
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EUR GBP 0.8745
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