Funds and weather drive markets lower

CRM AgriCommodities

Member
Arable Farmer
Location
UK
Cereals:
  • Improved South American weather and fund selling added pressure to the cereals market today.
  • Algeria who have been key buyers of European wheat this campaign have launched a tender to purchase 50KT of milling wheat and 25KT of barley for Mar/Apr delivery.
  • Wheat feels the effects of fund selling and spill over from oilseeds with prices falling in Europe, the US and on UK wheat futures.
  • Continued low water levels on the Rhine and Danube are leading to logistical issues and partially loaded boats being moved.


Oilseeds:

  • Oilseeds markets traded lower around the world as weather conditions in South America improved and technical selling applied pressure after last weeks bullish funds bets (see chart of the day)
  • Rapeseed traded sharply lower following soybeans with May-17 losing €5.5/T.
  • US soybean exports inspection were higher than market expectations at 1.63MT, although this did little to support the markets.
  • Drier conditions in some of the badly flooded areas of Argentina over the weekend led to operators increasing sales today.
  • Palm oil markets remain closed due to Lunar New Year celebrations.
  • Rains in Northern Brazil continues to delay soybean harvest progress.
Chart of the Day: Soy fund positions

Futures & Options prices
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 78 43.1%
  • Up to 25%

    Votes: 63 34.8%
  • 25-50%

    Votes: 30 16.6%
  • 50-75%

    Votes: 3 1.7%
  • 75-100%

    Votes: 3 1.7%
  • 100% I’ve had enough of farming!

    Votes: 4 2.2%

Red Tractor drops launch of green farming scheme amid anger from farmers

  • 1,286
  • 1
As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
Top