- Location
- Lincolnshire
US markets – soy lower despite supportive crush numbers, corn higher on weaker US$, Chinese purchases, and a rise in crude/ethanol production. Wheat is higher on weaker US$, talk that US fob prices are competitive, and colder weather in US Midwest/dryness concerns.
US Federal Reserve raised its benchmark interest rate by 0.25% for only the 3rd time in a decade. A robust February jobs report, solid pay gains, rising inflation and a dip in the unemployment rate was cited for the increase.
Egypt’s GASC purchased 420,000t (300,000t Russian, 60,000t Ukrainian and 60,000t French) for April 15-25 shipment. Brings total purchased over last three weeks to c. 1.7mln t. No news on the Algerian tender.
Chinese importers have booked at least 3 cargoes of US corn, totalling 195,000 tonnes. Shipment in late spring/early summer from the Pacific Northwest.
German Ag Group pegs 2017 German soft wheat crop at 25.1mln t, up 2.2% y/y. After a dry Nov-Jan, Feb rains helped crops, but wet soil may delay spring plantings.
Last Trade Settle:
London May ’17 Settle £149.20/t – up £0.70/t from previous close
Paris May ’17 Settle €172.50 – down €1.75/t from previous close
CBOT May ’17 Corn Settle $3.6350/bushel – up 1.25 cents/bushel from previous close
CBOT May ’17 Wheat Settle $4.3600/bushel – up 5.5 cents/bushel from previous close
Currency Today:
GBP EUR 1.1440
GBP USD 1.2265
EUR GBP 0.8740
EUR USD 1.0720
US Federal Reserve raised its benchmark interest rate by 0.25% for only the 3rd time in a decade. A robust February jobs report, solid pay gains, rising inflation and a dip in the unemployment rate was cited for the increase.
Egypt’s GASC purchased 420,000t (300,000t Russian, 60,000t Ukrainian and 60,000t French) for April 15-25 shipment. Brings total purchased over last three weeks to c. 1.7mln t. No news on the Algerian tender.
Chinese importers have booked at least 3 cargoes of US corn, totalling 195,000 tonnes. Shipment in late spring/early summer from the Pacific Northwest.
German Ag Group pegs 2017 German soft wheat crop at 25.1mln t, up 2.2% y/y. After a dry Nov-Jan, Feb rains helped crops, but wet soil may delay spring plantings.
Last Trade Settle:
London May ’17 Settle £149.20/t – up £0.70/t from previous close
Paris May ’17 Settle €172.50 – down €1.75/t from previous close
CBOT May ’17 Corn Settle $3.6350/bushel – up 1.25 cents/bushel from previous close
CBOT May ’17 Wheat Settle $4.3600/bushel – up 5.5 cents/bushel from previous close
Currency Today:
GBP EUR 1.1440
GBP USD 1.2265
EUR GBP 0.8740
EUR USD 1.0720