- Location
- Lincolnshire
- US markets – soy virtually unchanged, large Brazilian crop/firm Real weighs, good US exports/slow farmer selling supports. Corn moves lower on weaker crude/strong Brazilian Real and favourable weather for the US corn belt. Wheat lower as GFS forecast brings beneficial rains.
- Russian wheat export prices fell last week due to a 1% rise in the value of the ruble against the US$, making Russian wheat less competitive on global market.
- Ukrainian farmers have sown 11% of the country’s planned spring grains area a/o 17th March. Ag ministry expects farmers to sow 7.2mln ha of spring grains, up from 7mln last year.
- Brazilian government is evaluating a request by the country’s sugar/ethanol industries to reinstate a 20% import tax on ethanol. NE region complaining about rising imports from the US.
- Brexit – Theresa May is to officially notify the EU next Wednesday that the UK is leaving and will invoke article 50 reiterating her general objectives. An EU spokesman said it was ‘ready and waiting’ for the letter.
London May ’17 Settle £148.95/t – up £0.15/t from previous close
Paris May ’17 Settle €171.25 – down €0.75/t from previous close
CBOT May ’17 Corn Settle $3.6350/bushel – down 4.00 cents/bushel from previous close
CBOT May ’17 Wheat Settle $4.3025/bushel – down 6.00 cents/bushel from previous close
Currency Today:
GBP EUR 1.1535
GBP USD 1.2455
EUR GBP 0.8665
EUR USD 1.0795