- Location
- Lincolnshire
- US markets close – soybeans continued its recent slide lower, and have traded lower overnight, making contract lows on front month, ahead of todays expected US tariff announcements. Corn moved sharply lower on tariff concerns and a firmer US$. Wheat moved lower with July18 CBOT trading below 500c/bu following on from corn/soy.
- US export sales wheat @ 302k mt, soybeans @ 52k mt and corn @ 936k mt. As of 9/8/18 EU exports figures will be released on Mondays, not Thursday, following reported weekly exports of all EU wheat @ 190k mt (total 20.9m mt season).
- Iraq bought 100k mt Aus wheat in a tender last night at a reported $313.75.
- Argentina wheat plantings progressed to 34% complete last week, while Arg Peso saw losses of 6% vs US$, and Arg corn harvest is seen 45% complete.
- US tariff announcements are expected to take place today. Media reports are that a tariff on Soybeans is very likely, with market speculation around potential retaliations from China being rife.
- UK wheat saw a choppy market again yesterday with trade ending lower, market has traded relatively unchanged this morning.
London Nov ’18 Settle £159.35/t – down £1.15/tonne from previous close
Paris Dec ’18 Settle €180.25 – down €4.00/tonne from previous close
CBOT July ’18 Corn Settle - $3.6300– down 13 cents/bushel from previous close
CBOT July ’18 Wheat Settle – $5.0150 – down 15 cents/bushel from previous close
Currency Today:
GBP EUR 1.1441
GBP USD 1.3283
EUR GBP 0.8736
EUR USD 1.1608