- Location
- Lincolnshire
- US markets – soybeans lower as traders continue to wait for further details on the US/China trade front. Corn lower as per soybeans, Chinese media report. Wheat lower on poor US export numbers and reports that Russian prices have declined to a 4-month low.
- Chinese media reports over the weekend pushed back a possible meeting between President Trump and President Xi until June, although most in the trade feel that a deal between the two countries will be agreed upon much sooner.
- US Mid-west weather forecast is quiet first half of the week, then good rains seen arriving in the plains over the weekend, moving into the southern half of the Mid-west early next week. Temperatures seen below average, before warming into the weekend and early next week.
- US Delta/southeast weather forecast is not expected to see much in the way of precipitation this week.
- Brazilian weather forecast calls for rains to continue across all of the growing areas over the next 5 days, with the 6-10 day period having rains to fall mostly in the northern growing regions.
- Argentine weather forecast sees mostly a dry pattern for the next 10 days, as light to moderate rains did fall over 90% of the growing areas at the weekend.
- Brazil is considering granting an import quota of 750,000t of US wheat per year without tariffs, in exchange for other trade concessions, according to an official ahead of President’s Jair Bolsonaro’s visit to Washington.
- Russia’s March exports of wheat, barley and maize are estimated at 2.2mln t, down from 2.66mln t in February, the SovEcon ag consultancy reported.
London May ’19 Settle £162.25/t – down £0.30/tonne from previous close
Paris May ’19 Settle €188.75 – down €0.50/tonne from previous close
CBOT May ’19 Soybeans Settle - $9.0575/bushel – down 3.50 cents/bushel from previous close
CBOT May ’19 Corn Settle - $3.7150/bushel – down 1.75 cents/bushel from previous close
CBOT May ’19 Wheat Settle – $4.5675/bushel – down 5.50 cents/bushel from previous close
Currency Today:
GBP EUR 1.1695
GBP USD 1.3285
EUR GBP 0.8545
EUR USD 1.1350