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Arable Farming
Arable Market Commentary
Gleadell Daily Grain Comment - 18th May 2016
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<blockquote data-quote="ADM Agriculture" data-source="post: 2490970" data-attributes="member: 6746"><p> <ul> <li data-xf-list-type="ul">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.</li> </ul> <ul> <li data-xf-list-type="ul">Yesterday the German Co-Op Association reduced forecast German wheat crop 16/17 production by 500k mt on the back of lowered acreage.</li> </ul> <ul> <li data-xf-list-type="ul">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.</li> </ul> <ul> <li data-xf-list-type="ul">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.</li> </ul> <ul> <li data-xf-list-type="ul"> UK Retail Sales figures are released tomorrow @ 0930BST and Canadian Inflation Rate YoY figures are released on Friday @ 1330BST.</li> </ul> <ul> <li data-xf-list-type="ul">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.</li> </ul><p></p><p></p><p><strong>Last Trade Settle:</strong></p><p></p><p>London May ’16 Settle £106.35/mt –up £1.05/mt from previous close (Expiry 23/5/16).</p><p></p><p>London July ’16 Settle £107.60/mt – up £1.05/mt from previous close.</p><p></p><p>London Nov ’16 Settle £118.15/mt – up £1.05/mt from previous close.</p><p></p><p></p><p></p><p>Paris Sep ’16 Settle €164.75/mt – up €1.75/mt from previous close.</p><p></p><p>Paris Dec ’16 Settle €169.50/mt – up €1.00 /mt from previous close.</p><p></p><p></p><p></p><p><strong>Currency today:</strong></p><p></p><p>GBP EUR 1.2789</p><p></p><p>EUR GBP 0.7815</p><p></p><p>EUR USD 1.1265</p><p></p><p>GBP USD 1.4413</p></blockquote><p></p>
[QUOTE="ADM Agriculture, post: 2490970, member: 6746"] [LIST][*]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.[/LIST] [LIST][*]Yesterday the German Co-Op Association reduced forecast German wheat crop 16/17 production by 500k mt on the back of lowered acreage.[/LIST] [LIST][*]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.[/LIST] [LIST][*]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.[/LIST] [LIST][*] UK Retail Sales figures are released tomorrow @ 0930BST and Canadian Inflation Rate YoY figures are released on Friday @ 1330BST.[/LIST] [LIST][*]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.[/LIST] [B]Last Trade Settle:[/B] 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. [B]Currency today:[/B] GBP EUR 1.2789 EUR GBP 0.7815 EUR USD 1.1265 GBP USD 1.4413 [/QUOTE]
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Gleadell Daily Grain Comment - 18th May 2016
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