- Location
- Lincolnshire
- US markets – soy higher on month-end short covering, good export sales and lower canola numbers. Corn higher on short covering and talk of increased Chinese demand for DDG’S. Wheat higher on short covering, good exports and lower Canadian numbers.
- Canadian estimates of 2017 wheat and canola production were below trade estimates. All wheat crop was 25.5mln t vs 31.7mln t last year and 26.2mln t expected, with canola at 18.3mln t vs 19.6mln y last year and 18.6mln t expected.
- Mexican Foreign Minister said in Washington that he had agreed with US trade representatives and the US Commerce Secretary, to continue with a ‘serious’ renegotiation process of NAFTA.
- US Midwest weather forecast has no major changes with soaking rains in the Ohio river valley, but rains do look to be limited over the next 10 days. No threatening temperatures for crop areas.
- US Northern Plains weather has no major changes with limited rains, except for hit and miss showers hitting the eastern Dakotas, while temperatures are seen running from 80’s-90’s to the 60’s-70’s, then warm back up again next week.
- US Delta weather sees rainfall amounts of 2-4 inches falling across most of the region (Harvey). Things then quiet down for the weekend and most of next week.
- Ukraine’s grain exports have totalled 5.8mln t so far this season, which runs July 2017-June2018. Figure is down 200,000t compared with a year earlier.
London Nov ’17 Settle £140.75/t – up £2.00/t from previous close
Paris Dec ’17 Settle €161.50 – up €1.75/t from previous close
CBOT Dec ’17 Corn Settle $3.5775/bushel – up 12.25 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.3450/bushel – up 4.75 cents/bushel from previous close
Currency Today:
GBP EUR 1.0865
GBP USD 1.2925
EUR GBP 0.9200
EUR USD 1.1895