Gleadell Daily Grain Comment - 17 April 2018

ADM Agriculture

Member
Trade
Location
Lincolnshire
  • US markets close - soy lower, pressured by low US exports and talk of higher Brazilian crop. Corn lower as trade continues to show little concern over weather, which may impact planting. Wheat lower on talk of significant rainfall expected in the plains this week.
  • NASS reported US winter wheat ratings at 30% good/excellent, unchanged on the week, but down from 54% a year ago, crop was 9% headed vs 10% as 5-yr average. Spring wheat plantings seen at 3% vs 2% last week and 15% as 5-yr average.
  • NASS reported US corn plantings at 3% complete vs 6% last year and 5% as 5-yr average.
  • Despite a serious heating-up of trade tensions between the US and China, speculative commodity investors maintained or increased overall bullishness toward Chicago-traded grains and oilseed futures in the week ending 10th April.
  • US southern plains weather forecast still has widespread rains for the region this weekend. Temperatures seen to remain below average.
  • US Midwest weather forecast has systems still moving through the region. Temperatures see to remain below average.
  • South American weather forecast has rain for Argentina, rain in northern Brazil and limited elsewhere. Temperatures to remain average to above average.
Last Trade Settlement:
London May ’18 Settle £147.50/t – up £1.00/tonne from previous close
Paris May ’18 Settle €163.75 – down €1.00/tonne from previous close
CBOT May ’18 Corn Settle - $3.8250/bushel – down 3.75 cents/bushel from previous close
CBOT May ’18 Wheat Settle – $4.6225/bushel – down 10.25 cents/bushel from previous close

Last night’s London May18 close, based on this mornings currency, places London at a €7/tonne premium above Paris as a technical squeeze comes in to the market place.

Currency Today:
GBP EUR 1.1570
GBP USD 1.4340
EUR GBP 0.8645
EUR USD 1.2395
 

SFI - What % were you taking out of production?

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  • Up to 25%

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  • 25-50%

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  • 50-75%

    Votes: 3 1.6%
  • 75-100%

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

    Votes: 7 3.7%

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

  • 1,292
  • 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/
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