• Welcome to The Farming Forum!

    As part of this update, we have made a change to the login and registration process. If you are experiences any problems, please email [email protected] with the details so we can resolve any issues.

Gleadell Daily Grain Comment - 16 March 2017

ADM Agriculture

Member
Trade
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
 

How is your SFI 24 application progressing?

  • havn't been invited to apply

    Votes: 29 37.2%
  • have been invited to apply

    Votes: 13 16.7%
  • applied but not yet accepted

    Votes: 28 35.9%
  • agreement up and running

    Votes: 8 10.3%

Webinar: Expanded Sustainable Farming Incentive offer 2024 -26th Sept

  • 2,394
  • 49
On Thursday 26th September, we’re holding a webinar for farmers to go through the guidance, actions and detail for the expanded Sustainable Farming Incentive (SFI) offer. This was planned for end of May, but had to be delayed due to the general election. We apologise about that.

Farming and Countryside Programme Director, Janet Hughes will be joined by policy leads working on SFI, and colleagues from the Rural Payment Agency and Catchment Sensitive Farming.

This webinar will be...
Back
Top