Gleadell Daily Grain Comment - 21 February 2017

ADM Agriculture

Member
Trade
Location
Lincolnshire
  • US markets – closed for President’s Day holiday yesterday.
  • US weather – above normal precipitation will cover US Midwest/Northern Plains, but Southern Plains remain mostly dry; temperatures remains well above normal.
  • CFTC report showed a/o 14th Feb that managed money substantially trimmed their short Chicago wheat position by 42500 contracts (almost 50%), now seen only 42500 contracts short (5.78mln t).
  • India’s wheat imports from the EU/Black Sea are about to come to a halt, as the government insists on Methyl Bromide fumigation at origin, a substance which is banned in the EU and Black Sea.
  • EU weather – above normal precipitation across the EU with the exception of France and Iberia. Temperatures here are also above normal.
Last Trade Settle:
London May ’17 Settle £147.90/t – down £0.85/t from previous close
Paris May ’17 Settle €173.00 – down €1.00/t from previous close
CBOT Mar ’17 Corn Settle $3.6825/bushel – unchanged as market closed
CBOT Mar ’17 Wheat Settle $4.4100/bushel – unchanged as market closed

Currency Today:
GBP EUR 1.1785
GBP USD 1.2435
EUR GBP 0.8485
EUR USD 1.0550
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 79 42.0%
  • Up to 25%

    Votes: 66 35.1%
  • 25-50%

    Votes: 30 16.0%
  • 50-75%

    Votes: 3 1.6%
  • 75-100%

    Votes: 3 1.6%
  • 100% I’ve had enough of farming!

    Votes: 7 3.7%

Red Tractor drops launch of green farming scheme amid anger from farmers

  • 1,291
  • 1
As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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