Gleadell Daily Grain Comment - 15 November 2017

ADM Agriculture

Member
Trade
Location
Lincolnshire
  • US markets – soy lower as favourable SAm weather triggered new selling below key support levels. Corn lower (new contract lows) on talk of slower Chinese growth. Wheat higher on talk of spread trading (soybean/wheat) slightly lower crop ratings and lower US$.
  • Rumours surfaced yesterday that Egypt have reinstated a zero tolerance for ergot on wheat imports, although this would only be of interest to Russian exports as the only country with outstanding GASC shipments.
  • China’s CNGOIC reported that November soybean imports could come in lower than the 9mln t expected, due to delayed cargoes in ports waiting on GMO safety certificates along with port congestion after above normal arrivals.
  • BAGE estimates that 12% of the Argentine crop is planted, although dry weather expected in main planting areas over the next week may cause planting delays.
  • Brazilian consultancy MB Agro sees 2017-18 soybean production at 110mln t, down from 114mln t last year, with corn production estimated at 85-90mln t, down from their previous estimate of 100mln t.
  • French farm ministry slightly lifted its forecast for this year’s grain maize crop to 13.1mln t, up from 13mln t previously. Estimated soft wheat crop at 37.5mln t, reduced from 37.9mln t last month, with rapeseed now seen at 5.35mln t against 5.5mln t last month.
Last Trade Settlement:
London Nov ’17 Settle £138.25/t – up £0.45/t from previous close
Paris Dec ’17 Settle €159.75 – up €0.25/t from previous close
CBOT Dec ’17 Corn Settle $3.3750/bushel – down 4.75 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.2800/bushel – up 3.75 cents/bushel from previous close

Currency Today:
GBP EUR 1.1130
GBP USD 1.3170
EUR GBP 0.8980
EUR USD 1.1830
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 79 42.9%
  • Up to 25%

    Votes: 63 34.2%
  • 25-50%

    Votes: 30 16.3%
  • 50-75%

    Votes: 3 1.6%
  • 75-100%

    Votes: 3 1.6%
  • 100% I’ve had enough of farming!

    Votes: 6 3.3%

Red Tractor drops launch of green farming scheme amid anger from farmers

  • 1,287
  • 1
As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
Top