- Location
- Lincolnshire
- US markets close – Soybeans lower after hitting 7-week high, as weak exports weigh. Corn lower despite talk of higher ethanol usage (E-15 announcement). Wheat marginally higher on export boost of sale to Bangladesh.
- US Midwest weather forecast has soaking rains for most of the region over next few days, turning drier into the weekend, before more rain early next week. Temperatures running below average in the NW, above average in the SE, turning colder over weekend and next week.
- US Southern Plains sees rains early this week, turning drier before another rain system returns to the region over the weekend before turning drier again early next week.
- China is set to lift the nearly 6-year-old ban on imports of oil-meals from India to bridge its deficit following reduced supplies from the US.
- Ukraine has exported 5.8mln t of wheat under an export memorandum, with the pace of exports running at the planned level, the Ag Ministry reported. The memorandum allows the export of 8mln t of milling and 8mln t of feed wheat in the 2018-19 marketing season.
- Russian wheat export prices ended higher for the fourth week in a row, supported by speculation about potential export limits in Russia as the Ag safety watchdog continued adding pressure on traders.
- France’s farm ministry cut its estimate of the 2018 grain maize crop, excluding seeds, to 12.2mln t from 12.4mln t previously, soft wheat output was cut to 34.2mln t from 34.55mln t last month, although rapeseed was raised to 4.9mln t from 4.8mln t last month.
- Brussels reported EU soft wheat exports in the 2018-19 marketing season had reached 4.6mln t a/o Oct 7th, down 24% from 6mln t by the same date last year.
London Nov ’18 Settle £178.80/t – down £0.25/tonne from previous close
Paris Dec ’18 Settle €203.50 – up €0.50/tonne from previous close
CBOT Nov ’18 Soybeans Settle - $8.6300/bushel – down 6.75 cents/bushel from previous close
CBOT Dec ’18 Corn Settle - $3.6450/bushel – down 2.00 cents/bushel from previous close
CBOT Dec ’18 Wheat Settle – $5.1500/bushel – up 1.00 cents/bushel from previous close
Currency Today:
GBP EUR 1.1445
GBP USD 1.3150
EUR GBP 0.8730
EUR USD 1.1485