- Location
- Lincolnshire
- US markets – soy higher on continued talk of Chinese buying of US beans, slow Brazilian farm selling. Corn slightly higher on soy strength, planting progress led to early weakness. Wheat slightly higher as rally in soy/corn and weaker US$ supports.
- US winter wheat harvest commences in Southern Texas with early reports showing disappointing yields, down 10-30%.
- US weather; mid-west sees rains for the west, but dry in the east. Southern Plains sees soaking rains arriving Thursday and through weekend, no cold air threat. Northern Plains turning drier, although some rain in forecast. Delta seen dry before rains arrive later this week.
- China sold 2,050t of 2013 imported wheat at auction of state reserves yesterday. Sale represents 2.3% of 2013 imported wheat available.
- Egypt has purchased 1.7mln t of wheat from domestic farmers since the harvest began in mid-April. Plans to purchase about 3.8mln t of domestic wheat during the harvest which runs through to July.
- GASC (Egypt) tendering today after 9-week absence. Looking for shipments in what is deemed an ‘old crop position’, but with a minimum 12.5% protein specification.
London Nov ’17 Settle £139.60/t – down £1.40/t from previous close
Paris Dec ’17 Settle €170.25 – down €1.00/t from previous close
CBOT Dec ’17 Corn Settle $3.8550/bushel – up 0.25 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.5950/bushel – up 0.75 cents/bushel from previous close
Currency Today:
GBP EUR 1.1665
GBP USD 1.2940
EUR GBP 0.8570
EUR USD 1.1095