- Location
- Lincolnshire
- US markets – soybean up as market consolidated after the recent ‘sell-off’, corn lower (5th consecutive day), open interest was up which implies new shorts on the break below the 50 MDA, wheat moves lower on signs of increased export competition at recent tenders.
- US weather forecast has mostly dry weather dominating much of the winter wheat areas of the SW Plains – temperatures remain out of the ‘deep freeze’ in the Plains and Midwest for the next 7-10 days.
- China’s top corn producing province will cut highway toll fees for trucks carrying corn in an effort to ease logistics and high costs.
- Argentine weather sees rain developing into the weekend – Brazilian weather has rains bringing moderate totals for the south this/next week, while rainfall in the north is near average for most on the next 10 days.
- Russia’s corn exports were running at a record pace in the first three months of the marketing year – seen for Sep-Nov16 at 1.8mln t, up 60% y/y.
- UkrAgroConsult estimates that Russia has over 5mln t of corn available for export this marketing year, up between 9% and 12% y/y.
- French farm office AgriMer reports EU soft wheat exports in 2016-17 season has reached 11.9mln t a./o Dec.20th, stable compared with the same time last season.
London May ’17 Settle £139.90/t – up £0.60/t from previous close
Paris May ’17 Settle €170.25/t – unchanged from previous close
CBOT Mar ’17 Corn Settle $3.4725/bushel – down 3.00c/bushel from previous close
CBOT Mar ’17 Wheat Settle $3.9950/bushel – down 3.75c/bushel from previous close
Currency Today:
GBP EUR 1.1790
GBP US$ 1.2335
EUR GBP 0.8480
EUR USD 1.0460