@CRMagri - UK remains net importer of wheat according to October customs data

[CRM AgriCommodities]

Cereals

• UK October Wheat exports 195,324T & imports 137,245T. Season Totals 517,994T & 573,571T.
• UK Feed barley is slowly finding it's way on to boats, with 66kT on its way to Saudi Arabia and the October exports are ticking over at more than 100kT per month and 498kT to date.
• Algeria bgt 800kT in last weeks tender and not 500kT originally reported!
• US weekly Wheat inspected for Export = 434,767T and corn = 566,835T.
• Lanworth forecast Russian wheat production for 2016/17 at 58.5MlnT.
• Ethiopia in talks to purchase 70kT of wheat in a purchase tender.
• South African maize continues to rise as it awaits crucial rains!

Oilseeds

• Feb-16 Rapeseed futures turned higher during the afternoon and rallied into the close to finish up 3.5€ at 376€/T.
• US weekly Soybeans inspected for Export = 1.343MlnT.
• Lanworth says higher yields in Iowa, Illinois and Minnesota = US Soybean yield 47.9bu/ac.
• Abiove forecast Brazilian Soybean prod. at 99.4MlnT v 98.6 in Oct. Exports 55MlnT v 53.8.

Of Interest

• €/£ rallied at 0.73 before easing back towards 0.7275 as Mario Draghi says there are no delays for Eurozone inflation to hit targets.
• Argentine Export Tax removals (corn and wheat) and reductions (soy complex) driving World Ag markets alongside currencies!
  
  
• French Bird flu poses no human threat says French Ag. Minster.

UK Wheat Cumulative Exports and Imports

Prices