- Location
- Lincolnshire
- Having seen gains to a 4-week high on CBOT Wheat futures, values have eased over the last several trading sessions following minutes from the recent Fed meeting pointing towards a potential interest rate increase this year and fundamental US crop conditions remaining favourable.
- Recent Brexit polls are putting the stay-in vote ahead and combined with a balanced Queens speech has meant £Sterling has seen a sharp move higher in recent days, combining with strong fundamentals keeps pressure on LIFFE Nov16 futures.
- The UK physical market has seen little change in FW values, bar the NE with Ensus running a trial period, over recent weeks as exports slow down to the end of the season and domestic demand continues to be steady.
- Japanese Balance of Trade figures are released @ 0050BST on Monday with an EU Consumer Confidence Flash later @ 1500BST. German Economic Sentiment Index figures are released on Tuesday @ 1000BST with Bank of Canada Interest Rate Decision on Wednesday @ 1500BST.
- Forecasts see little change from yesterday.
London May ’16 Settle £106.50/mt –up £0.15/mt from previous close (Expiry 23/5/16).
London July ’16 Settle £107.75/mt – up £0.15/mt from previous close.
London Nov ’16 Settle £117.25/mt – down £0.90/mt from previous close.
Paris Sep ’16 Settle €164.00/mt – down €0.75/mt from previous close.
Paris Dec ’16 Settle €169.00/mt – down €0.50 /mt from previous close.
Currency today:
GBP EUR 1.3030
EUR GBP 0.7669
EUR USD 1.1219
GBP USD 1.4619