- Location
- Lincolnshire
- US markets – soybeans down on speculative liquidation following favourable rains in SAm, corn down on soybean and talk of higher SAm production, wheat down on talk of a warmer US weather outlook and a higher US$.
- Chinese leaders convened a central rural work conference to review the country’s rural and agricultural workings, and map out a plan for 2017 and beyond – focus on supply-side of social reform and enhancement of farm production.
- Egypt’s GASC purchases 360,000t wheat (120k Argentine/180k Russian/60k Romanian) for Jan 20-31 shipment – prices ranged between $196.53-198.50 C&F, with an aggressive freight rate resulting in Argentine wheat being the cheapest.
- Russian export wheat prices were broadly stable last week as strong demand was offset by a strengthening of the rouble against the US$.
- UkrAgroConsult reports around 83% of Ukraine’s winter grain crops are in a good/satisfactory condition a/o Dec 15th.
- Warmer-than-usual weather conditions in many parts of Europe have left grain crops exposed to damage from a cold spell which could come as soon as this week.
London May ’17 Settle £139.30/t – up £0.30/t from previous close
Paris May ’17 Settle €170.25/t – unchanged from previous close
CBOT Mar ’17 Corn Settle $3.5025/bushel – down 3.00c/bushel from previous close
CBOT Mar ’17 Wheat Settle $4.0325/bushel – down 1.75c/bushel from previous close
Currency Today:
GBP EUR 1.1860
GBP US$ 1.2350
EUR GBP 0.8425
EUR USD 1.0405