- Location
- Lincolnshire
- US markets – soy higher on talk of Argentine supply concerns and speculative buying offsetting higher Brazilian production - corn slightly lower on reports that China may reduce feed grain imports - wheat lower to unchanged on buying interest, cold weather and lower plantings.
- CONAB increased Brazilian 2016-17 soy and corn crop estimates to 103.78 and 84.48mln t respectively (102.45 and 83.8mln t in December), and also raised wheat crop to 6.73mln t.
- South American weather; Argentina looks quiet this week before another system brings light/moderate rain to most areas over the weekend. Brazil has rain to fall off-and-on for the next 10 days in most regions.
- Russia’s grain exports to Southeast Asian Countries (ASEAN) have already increased twofold in the current marketing season, with 587,000t of grain exported, including 467,000t of wheat and 118,000t of maize.
- Ukraine’s Agriculture Ministry reported grain exports had reached 23.1m ln t a/o Jan 6th.
- UK LIFFE wheat markets backed off from multi year highs yesterday as £ bounced off key technical values and found strength in the afternoon. Basis in the North of the country remains firm on plentiful wheat demand, while the South lags behind.
London May ’17 Settle £145.45/t – down £0.80/t from previous close
Paris May ’17 Settle €171.75/t – down €1.25/t from previous close
CBOT Mar ’17 Corn Settle $3.5825/bushel – down 1.75c/bushel from previous close
CBOT Mar ’17 Wheat Settle $4.2675/bushel – down 0.50c/bushel from previous close
Currency Today:
GBP EUR 1.1500
GBP US$ 1.2115
EUR GBP 0.8690
EUR USD 1.0535