- Location
- Lincolnshire
- US markets – Soy unchanged to slightly lower as market reversed into the close – Corn higher on support of weaker US$ and a wet, cold forecast for the western corn belt – Wheat higher on weaker US$, Egyptian purchase and talk of wetter weather in western wheat areas.
- Brazil’s food supply agency CONAB will hold this year’s third auction of corn contracts in a bid to assist growers in Mato Grosso to receive at least the minimum value guaranteed by the government.
- China sold 423,087t of wheat at auction of state reserves Tuesday – sale represents 14.25% of 2.97mln t of wheat available at the auction.
- South African producer group Grains SA expects a surplus of 3.5mln t of maize when this season’s harvest is complete and aims to export all of it (Japan, South Korea and Taiwan).
- India’s wheat imports have slowed in recent weeks as good quality domestic crops have hit the market, leaving traders saddled with unsold stockpiles in port silos.
- GASC (Egypt) purchased 295,000t of wheat for June 15-24 shipment (EU old crop / US new crop position) – 60k Russian, 60k Ukrainian, 60k Romanian and 115k US HRW.
- Germany’s winter wheat sown area for the 2017 harvest has increased by 0.9% on the year to about 3.16mln ha – rapeseed sowings reduced by 1% to 1.31mln ha.
London Nov ’17 Settle £140.70/t – UP £1.10/t from previous close
Paris Dec ’17 Settle €170.50 – up €0.25/t from previous close
CBOT Dec ’17 Corn Settle $3.8900/bushel – up 3.50 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.6175/bushel – up 2.25 cents/bushel from previous close
Currency Today:
GBP EUR 1.1700
GBP USD 1.3035
EUR GBP 0.8545
EUR USD 1.1135