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  1. CRM AgriCommodities

    Markets focus on rain and exports

    Markets focus on rain and exports Wheat / Barley Algeria's OAIC purchased ~700KT of milling wheat at ~$275, reflecting a rally in international markets, the reported prices were much higher than the previous tender. Weekly US net sales of 367.5KT for 2020/2021 were down 31% from the previous...
  2. CRM AgriCommodities

    Markets cool following stocks report

    Markets cool following stocks report Global grain and oilseed markets have calmed today following yesterday’s USDA reduced stocks related market support. Read the blog here and while the data is important, scepticism is still needed. Wheat / Barley Weekly US net export sales of 506.3KT for...
  3. CRM AgriCommodities

    Russian Harvest Reaches 50%

    Russian harvest pressure and continued favourable weather in the US and Canada is leading to building pressure in grain markets as crop estimates are revised upward. Corn / Maize Disappointing old crop weekly US net sales of 101.6KT for 2019/2020 were down noticeably from the previous week and...
  4. CRM AgriCommodities

    Daily market report - IGC Reduce Global Production Forecasts

    The IGC forecast for world total grains production in 2020/21 has been lowered by 13MT to 2,225MT, mainly on downgrades for wheat in the US, EU, and Russia, and maize in the US. Corn / Maize Reflecting the change in estimated US corn area, the International Grains Council lowered their 2020/21...
  5. CRM AgriCommodities

    Markets Await The WASDE

    US markets have continued to gain a degree of support in anticipation of tomorrows USDA WASDE as funds are likely reducing their exposure and covering short positions. However, these gains are against a backdrop of single day US Covid-19 cases reaching a new record of 62K yesterday, surpassing a...
  6. CRM AgriCommodities

    Markets are sick and there is no cure in sight (yet)

    Grains continued lower in the wake of tumbling financial markets and a steep correction in oil prices as the COVID-19 continues to spread rapidly outside China. Despite the weaker pound and ongoing poor planting conditions in the UK, the 'old crop' May-20 LIFFE feed wheat contract settled at its...
  7. CRM AgriCommodities

    Funds cover short position moving wheat prices higher

    Cereals Fund short covering today moved wheat prices higher as CBOT values hit a one month low yesterday attracting bargain buying. Northern Europe continues to look dry over coming weeks as concerns grow for crops, particularly those on lighter land. Chinese pig prices are expect to increase...
  8. CRM AgriCommodities

    No fooling grains with bearish WASDE report

    Cereals In a rather dull session until the opening of the US markets, both LIFFE and Matif closed in green territory on limited trading volumes particularly for the former exchange ahead of tonight’s new vote in Parliament. Weekly EU wheat exports remain solid at more than 480KT against the...
  9. CRM AgriCommodities

    Grains lower awaiting Friday's USDA reports with impatience

    Cereals In a dearth of fresh news and ahead of Friday's USDA NASS reports (US Stocks & Prospective Plantings), grains ended mostly lower after wheat reached a 1-month high yesterday on both sides of the Atlantic. The Sterling continued higher with MPs voting on different options for the...
  10. CRM AgriCommodities

    EU wheat firm on renewed export optimism

    Cereals In the aftermath of yesterday's strong rally, US wheat finish lower whilst EU origins remained firm over renewed export optimism. LIFFE feed wheat was little changed despite the sharp rally in the Sterling against both the euro and the US Dollar. After a second defeat for PM Theresa...
  11. CRM AgriCommodities

    Russia sees its grain production up 5% in 2019

    Cereals UK wheat snapped a 3-day losing streak in sympathy with Matif and Chicago. Russia's Agricultural Ministry see their grain production in 2019 up 5% at 118MT of which 75MMT of wheat (+4% on last year), the second largest on record. The country could even produce a 80MMT cropunder...
  12. CRM AgriCommodities

    Likely extension of Article 50 pushes UK values lower with climbing Sterling

    Cereals With the likelihood of Article 50 being extended, the Sterling continued sharply higher against both the US dollar and the euro, reaching its highest level since Sep-18 and May-17 respectively. Consequently, May-19 LIFFE feed wheat continued lower for a 2nd consecutive session...
  13. CRM AgriCommodities

    Trade quiet with CBOT closed

    Cereals Trade was quiet today with the CBOT closed for Presidents day. Euronext wheat trader lower sharply once more during the session continuing to look for export demand with a large port lineup indicating strong demand amidst high Russian prices. Domestic basis levels remain strong...
  14. CRM AgriCommodities

    Can the US and China reach a trade deal?

    Cereals A rather quiet session in Europe with both LIFFE and Matif wheat edging lower over a weakening US dollar and with limited trading volumes. According to today's HMRC data, the UK exported only 47KT of wheat in Dec-18 and imported more than 152KT. Consequently, the UK has now been a...
  15. CRM AgriCommodities

    Countdown to Friday's USDA report...

    Cereals Traders are taking positions ahead of tomorrows USDA report which could cause some fireworks having with the market having no information from the USDA since December due to the US government shutdown. Wheat markets were lower into the report as the hopes of a deal being reached...
  16. CRM AgriCommodities

    Sterling's slump unable to support UK grains

    Cereals The Sterling continued lower against both the euro and the US dollar in the wake of a weak Purchasing Managers' Index which fell to 50.1 in January, the lowest since July2016, and against 51.2 in December. However, it was not enough to lend support to UK grains with May-19 LIFFE feed...
  17. CRM AgriCommodities

    Brexit, here we go again.

    UK wheat has traded in a narrow £1.50/T range since last Thursday on the May-19 LIFFE futures contract amid a lack of fresh news and despite the Sterling reaching its highest level against the euro since the end of May 2017 last Friday. However due to this week’s Commons vote which is said to...
  18. CRM AgriCommodities

    Russia wheat too expensive, France secures its first vessel to Egypt since July 2017

    Cereals The main news from today's grain world was obviously the results of Egypt's GASC tender which bought 360KT of wheat but none from Russia. The FSU country origin was simply too expensive with FOB offersin excess of $255/T vs the cheapest $243/T offer from the US. However, due to its...
  19. CRM AgriCommodities

    UK wheat flat despite the Sterling climbing to a 9-month high against the euro

    Cereals UK wheat ended today's session virtually unchanged despite the Sterling rallying further against the single currency on dovish comments from the ECB. As such, the pound was set to settle at a 9-monthhigh against the euro after it posted its best 11-day performance (+3.9%) since...
  20. CRM AgriCommodities

    Wheat higher on Russian export rumours.

    Cereals Despite CBOT being closed today, EU wheat values recovered from technical support levels as speculation grew around Russia taking steps to limit grain exports. Russian exports of wheat, barley, and maize were estimated by SovEcon at 2.3MT down from 4.3MT in December as rising Russian...

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