- Location
- Lincolnshire
- US markets – soy higher on lower US numbers – corn slightly higher on higher soymeal prices, with lower production offset by higher than expected Dec 1st corn stocks – wheat higher on lower than expected US winter plantings, although rally capped by increased US/Global stocks.
- USDA raise US/Global wheat stocks, but trim US corn production and US/Global stocks. US 2017 winter wheat plantings projected at 32.4mn acres, lower than expected, and the lowest since 1909.
- South African industry group Grain SA sees a 2017 maize surplus after last year’s drought-inflicted deficit, as survey shows farmers have planted 18% more acreage than in 2016.
- China will import less than 1mln t of DDG’s in 2016-17, down from earlier estimate of 2mln t. Increased import duties should boost demand for soymeal and bean imports.
- EU wheat shipments (after customary adjustments) were 137kmt last week for a season-to-date total of 13.16mln t, the first time this season’s pace has slipped behind last year (13.26mln t y/y).
London May ’17 Settle £147.50/t – up £1.25/t from previous close
Paris May ’17 Settle €171.50/t – up €0.25/t from previous close
CBOT Mar ’17 Corn Settle $3.5825/bushel – up 1.00c/bushel from previous close
CBOT Mar ’17 Wheat Settle $4.2625/bushel – up 7.50c/bushel from previous close
Currency Today:
GBP EUR 1.1475
GBP US$ 1.2220
EUR GBP 0.8610
EUR USD 1.0650