- Location
- Lincolnshire
Daily Grain Comment
Friday 16thOctober 2015
Last Trade Settle:
London Nov '15 Settle £115.00/mt - down £1.00 from previous close
London May '16 Settle £123.70/mt - down £1.10 from previous close
Paris Dec '15 Settle E177.50/mt - unchanged from previous close
Paris May '16 Settle E187.00/mt - down E1.75 from previous close
Currency this morning:
GBP EUR1.3603
EUR GBP 0.7349
EUR USD 1.1371
GBP USD 1.5475
Friday 16thOctober 2015
- Strategie Grains released their amended EU forecasts at the weekend. An increase in wheat production by 2m mt, to 149m mt, and a deduction in expected exports by 0.5m mt, to 27.5m mt, make for a bearish tone on the report. Barley and Corn expectations were unchanged, but Corn feed use is expected to be well down YoY.
- GASC bought 240,000t wheat for week 48 shipment at $212.16 CIF. 60,000t Romanian and 180,000t Russian came as little surprise with France continuing to struggle to be competitive on higher freight rates.
- DEFRA postponed their UK yield, planted area and production estimates yesterday in order to allow “robustness” of the report following on from their provisional estimations of grain crops made last week.
- EU Inflation Rate figures are released today 1000BST and Chinese GDP Growth Rate QoQ & YoY is released 03.00BST on Monday.
- The US is forecast more rain across the West and Plains over the weekend. E Eur continues to see precipitation into next week with cooler temps. FSU sees a variable forecast with precipitation a potential in the 5-day. Brazil remains dry for the short term while Arg stays wet. E Aus is forecast rain for the 3-day, with rain generally forecast in the 10-day but with much warmer temps.
Last Trade Settle:
London Nov '15 Settle £115.00/mt - down £1.00 from previous close
London May '16 Settle £123.70/mt - down £1.10 from previous close
Paris Dec '15 Settle E177.50/mt - unchanged from previous close
Paris May '16 Settle E187.00/mt - down E1.75 from previous close
Currency this morning:
GBP EUR1.3603
EUR GBP 0.7349
EUR USD 1.1371
GBP USD 1.5475