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Countdown to Friday's USDA report...

Discussion in 'Arable Market Commentary' started by CRM AgriCommodities, Feb 7, 2019.

  1. CRM AgriCommodities

    Location:
    UK
    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 between China and the US took a backward step.

    The market continues to trade politics with further talks to be held in Beijing next week between the US and China. Wheat exports out of France to China have benefitted from the ongoing trade spat, with nearly 10% of the 1.4MT France exported in December going to China.

    EU and US wheat prices fell sharply with no clear explanation for the fall other than tomorrow's WASDE report.
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    Oilseeds

    Rapeseed prices continued to trend higher benefitting from higher veg oil prices as soy oil value continue to rally.

    Crude oil prices continue to drift back toward the $50bbl level following the gains see 2019 so far after a dismal end to 2018!
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    Futures & Options Prices
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    CRM Agri Grain Marketing Training Course "A highly valuable day for our business. It provided us with confidence to make decisions and manage price volatility. A clear and simple explanation on a complex topic has no doubt helped to transform the way we market our grain.” Pete Collins, Partner, MJ & SC Collins.

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