- Location
- UK
Cereals
- CBOT wheat prices hit new lows today as traders sold positions and global supplies weighed.
- Lower than expected US winter wheat crop ratings was not enough to feed the bulls appetite to buy, despite being at 52% 'GD/EX' vs 58% last year.
- US exporters sell 100KT of HRW wheat to Iraq for 2017/18.
- Rains across Eastern Australia are expected to slow early harvest progress next week whilst Brazilian farmers are looking to catchup on soybeans plantings.
- The recovery of the Euro in recent days weighed on EU wheat prices today with a strong jump in the sterling having similar consequences for LIFFE wheat.
- Monthly performance: LIFFE wheat -3.7%, Euronext wheat -2.4%, CBOT wheat -6.1%, Euronext maize -2.7%, CBOT corn -2.6%.
Oilseeds
- Oilseeds were mixed with EU rapeseed values consolidating after the recent rally.
- Canadian canola followed soyoil higher and helped underpin vegetable oil markets.
- In Brazil, the current pace of soybean plantings is around 10% behind last year due to the dry conditions seen, particularly in Goais.
- Monthly performance: Euronext rapeseed +1%, ICE canola +3.6%, CBOT soybean +0.7%, CBOT soymeal -0.9%, CBOT soyoil +5.4%, BMD palm oil +3.8%.
Chart of the Day#2: US / Kansas Winter Wheat planting progress
Futures & Options prices