- Location
- UK
**Subscribe to this mailshot here**
Cereals - as of 27.03.17
- Euronext May-17 wheat today hit contract lows after 8th consecutive day of trading lower.
- US weekly corn export were above analysts estimate at 1.56MT.
- As forecast rains are providing relief to wheat crops across the US plains with further rains forecast this week.
- Traders will likely spend this week taking position and adjusting risk exposure ahead of Friday USDA stocks and prospective plantings report.
- Money managers increased short position on US grain last week (See chart of the day)
- March MARS EU Crop report overview(full report here):
- Wheat yields rising to 6.2T/ha, an increase of 7.7% on last year;
- Barley yields rising to 5.81T/ha an increase of 5%.
- Crops in generally good shape despite cold conditions in January and early February.
Oilseeds
- Oilseeds prices remain under pressure ahead of Friday's US quarterly stocks & plantings report and as South American soybeans output grows.
- Soybeans continue to test support levels at 5-month lows.
- Canadian canola makes a recovery from October support levels.
- US oil rig count continues to rise to 652; currently more than double the number seen in 2016 lows.
- MARS see EU rapeseed yield recovering by 6.8% to 3.29T/ha.
Futures & Options prices
