- Location
- Lincolnshire
US markets – soy higher on reports of reduced Brazilian farmer selling. Corn higher on talk that a cool, wet spring could reduce final acreage and drop yield below trend. Wheat mixed as weather/lower US$ supports, record global supplies continues to offer resistance.
NASS reports US winter crop ratings up 1% point on the week at 52% good/excellent (62% last year). Winter wheat 72% headed vs 72% last year. Spring wheat 90% planted vs 94% last year, and 84% as 5yr average.
NASS reports US corn plantings 84% complete a/o 21st May, up 13% points on the week, in line with the same time last year, but slightly lower of the 5yr average of 85%.
Alberta (Canada) over last week experienced more spring planting delays as another major weather system swept across the province. A/o 16th May about 31% of spring crops had been seeded, compared to the 5-year average of 65%.
Russian wheat prices rose last week, supported by a state purchase by Egypt, and expectations that the ruble would rise further against the US$.
Ukrainian farmers have sown 6.8mln ha with spring grains for the 2017 harvest so far, or about 94% of the expected planting area of 7.2mln ha.
Egyptian Government’s first US wheat purchase in 2 years was a ‘stopgap’ measure to ensure supplies until offers from its favoured sources in the Black Sea region were more readily available.
Egypt has procured 2.33mln t of wheat from domestic farmers since the harvest began in mid-April. Government aims to procure around 4mln t from its domestic growers, and import around 5.5mln t this year.
China sold 989,630t of 2011 & 2012 crop year corn at auction of state reserves. Sale represents 99% of the 1mln t of corn available at action.
MARS (EU’s crop monitoring unit) trims EU 2017-18 wheat yield estimate to 5.91t/ha, down from 6.05t/ha last month.
Last Trade Settle:
London Nov ’17 Settle £142.00/t – up £1.55/t from previous close
Paris Dec ’17 Settle €171.75 – up €1.75/t from previous close
CBOT Dec ’17 Corn Settle $3.9275/bushel – up 2.50 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.6975/bushel – unchanged from previous close
Currency Today:
GBP EUR 1.1540
GBP USD 1.2985
EUR GBP 0.8660
EUR USD 1.1250
NASS reports US winter crop ratings up 1% point on the week at 52% good/excellent (62% last year). Winter wheat 72% headed vs 72% last year. Spring wheat 90% planted vs 94% last year, and 84% as 5yr average.
NASS reports US corn plantings 84% complete a/o 21st May, up 13% points on the week, in line with the same time last year, but slightly lower of the 5yr average of 85%.
Alberta (Canada) over last week experienced more spring planting delays as another major weather system swept across the province. A/o 16th May about 31% of spring crops had been seeded, compared to the 5-year average of 65%.
Russian wheat prices rose last week, supported by a state purchase by Egypt, and expectations that the ruble would rise further against the US$.
Ukrainian farmers have sown 6.8mln ha with spring grains for the 2017 harvest so far, or about 94% of the expected planting area of 7.2mln ha.
Egyptian Government’s first US wheat purchase in 2 years was a ‘stopgap’ measure to ensure supplies until offers from its favoured sources in the Black Sea region were more readily available.
Egypt has procured 2.33mln t of wheat from domestic farmers since the harvest began in mid-April. Government aims to procure around 4mln t from its domestic growers, and import around 5.5mln t this year.
China sold 989,630t of 2011 & 2012 crop year corn at auction of state reserves. Sale represents 99% of the 1mln t of corn available at action.
MARS (EU’s crop monitoring unit) trims EU 2017-18 wheat yield estimate to 5.91t/ha, down from 6.05t/ha last month.
Last Trade Settle:
London Nov ’17 Settle £142.00/t – up £1.55/t from previous close
Paris Dec ’17 Settle €171.75 – up €1.75/t from previous close
CBOT Dec ’17 Corn Settle $3.9275/bushel – up 2.50 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.6975/bushel – unchanged from previous close
Currency Today:
GBP EUR 1.1540
GBP USD 1.2985
EUR GBP 0.8660
EUR USD 1.1250