- Location
- Lincolnshire
- US markets – soy higher on rumours that China may be buying & slow Brazilian farmer selling. Corn marginally higher on talk of wet weather in southern/central corn belt. Wheat lower on continued selling, less damage to winter crop & favourable spring planting weather.
- Mexico could buy up to 50,000t Argentine wheat this week, testing alternative to US supplies. Delegation planning a trip to Brazil to analyse potential for increased grain purchases.
- Mississippi river was expected to reopen to barge traffic as waters were forecast to recede enough to allow passage under the Eads bridge in St. Louis.
- Brazilian soybean harvest for the 2016-17 growing season is almost finished, with harvesting completed on 97.6% of land planted. CONAB to release updated estimates tomorrow.
- India’s farm ministry increased their wheat production estimate to a new record high of 97.44mln t, from 96.6mln t previously. Recently raised import tariff to protect domestic market.
- Farm Ministry reported that French farmers are expected to sow 1.39mln ha of maize this year, down 2.3% y/y. Left estimates of soft wheat area unchanged at 5.2mln ha, little changed from 2016.
London Nov ’17 Settle £140.50/t – up £0.50/t from previous close
Paris Dec ’17 Settle €172.50 – up €0.75/t from previous close
CBOT Dec ’17 Corn Settle $3.8500/bushel – up 0.75 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.6450/bushel – down 4.75 cents/bushel from previous close
Currency Today:
GBP EUR 1.1910
GBP USD 1.2945
EUR GBP 0.8395
EUR USD 1.0865