- Location
- UK
Cereals
Oilseeds
Chart of the Day #2: US Weather forecast
Futures & Options prices
- LIFFE Feed wheat snapped a 5-week winning streak amid ample supplies of grains and a rebound in the Sterling which pushed the Nov-17 contract to a 2-week low. Even the 3% yearly reduction in GB wheat area reported in the AHDB's 2017 Planting & Variety could not lend support [See Chart of the day #1].
- Bastille day meant low trading volume across Europe but things got a bit more interesting into the close with the Sep-17 contract accelerating down and posting its biggest weekly loss (-4.3%) in more than a year.
- Despite a weakening US Dollar, CBOT wheat was unable onto hold to the early gains, posting a 5.2% decline this week whilst Minneapolis wheat firmed up after a bearish WASDE report.
- CBOT corn finished on a positive note after a turbulent week amid ongoing hot and dry conditions for parts of the Midwest.
- AHDB's 2017 Planting & Variety Survey overview (full report):
- GB wheat area: 1.76Mha, -3% from last year;
- GB spring barley area: 725Kha, +9% from LY;
- GB winter barley area: 428Kha, -1% from LY;
- England & Scotland OSR area: 553Kha, -4% from LY.
- Tunisia purchased 42KT of soft milling wheat and 50KT of feed barley in a tender today.
Oilseeds
- The broad oilseeds complex was in recovery mode after big losses in the wake of a bearish WASDE report.
- According to a Reuters poll, NOPA June US soy crush will be the 2nd largest for the month at 143.1Mbu vs 149.25Mbu in the previous month.
- Canadian canola crushers processed 163.6KT (-11.5% w-o-w) of the oilseed in the week ending July 12th and taking the total to 8.7MlnT vs 7.8MlnT LY.
Chart of the Day #2: US Weather forecast
Futures & Options prices