- Location
- Lincolnshire
- US wheat futures saw gains yesterday as funds covered some shorts and Soybeans again saw a bounce in day trading. Both wheat & Soy are down again today to similar numbers from this time yesterday.
- Yesterday the German Co-Op Association reduced forecast German wheat crop 16/17 production by 500k mt on the back of lowered acreage.
- Corn saw gains for the 4th consecutive day yesterday with Soy & Wheat, as wetter and cooler weather in the US short term forecast puts planting in doubt however these are well ahead of the 5-yr avg and only marginally behind last years exceptional rate.
- The UK physical markets remains unchanged on FW for most with the announcement that the ethanol plant Ensus, North of England, is expected to have a trial period late in this season in order to test new hardware in the plant pushing local prices up. FB is not heavily discussed across the country.
- UK Retail Sales figures are released tomorrow @ 0930BST and Canadian Inflation Rate YoY figures are released on Friday @ 1330BST.
- The US sees a cooler and wetter forecast in the 5-day with a dryer 2-week outlook. EU & FSU/W Russia sees rains in the nearby with normal temps for the season. Central Braz stays dry in the 7-day while Aus and Arg see some rains in the timeframe.
Last Trade Settle:
London May ’16 Settle £106.35/mt –up £1.05/mt from previous close (Expiry 23/5/16).
London July ’16 Settle £107.60/mt – up £1.05/mt from previous close.
London Nov ’16 Settle £118.15/mt – up £1.05/mt from previous close.
Paris Sep ’16 Settle €164.75/mt – up €1.75/mt from previous close.
Paris Dec ’16 Settle €169.50/mt – up €1.00 /mt from previous close.
Currency today:
GBP EUR 1.2789
EUR GBP 0.7815
EUR USD 1.1265
GBP USD 1.4413