- Location
- UK
Cereals
- The more superstitious arable farmers would not have been surprised to see that EU wheat prices posted there largest weekly loss today since early August.
- A combination of Thursday's WASDE report and a stronger Euro and Sterling vs USD this week put pressure on EU prices as a result of weak US economic data.
- France's maize harvest is reported at 28% complete up from 15% over the week according to FranceAgriMer, who said that winter wheat sowings were 20% complete and 32% for winter barley.
- In Ukraine, winter grain sowings are at 79% complete with 5.1Mha sown.
- Bangladesh purchased 100KT of Black Sea wheat for Nov/Dec shipment.
Oilseeds
- Oilseeds drifted lower today after profit taking on yesterday USDA driven price rally.
- The lower USDA soy yields and stocks surprised the market into a buying frenzy. Traders will take a keen interest into how China reacts to the prices rise.
- The market will continue to debate the size of the US crop, meanwhile, attention will turn to South American condition and exports.
