- Location
- UK
Cereals:
Oilseeds:
Futures & Options prices
- 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.
Futures & Options prices