Gleadell Daily Grain Comment - 24th June 2016

[ADM Agriculture]

• GBP/USD hit 1.50 yesterday as polls showed the stay campaign in favour, this then fell to its lowest levels in 3 decades with referendum results coming clear at around 4:30 this morning.

• Market volatility and uncertainty is prevailing this morning – the UK trade will closely be monitoring LIFFE, MATIF and currency markets before looking to price anything.

• The UK is forecast sunshine and showers, with some heavier thundery downpours likely across northern, western and central parts of the UK. The south-east will however stay largely dry with sunny spells.

Last Trade Settle:

London July ’16 Settle £104.50/mt – down £1.50/mt from previous close.

London Nov ’16 Settle £115.20/mt – down £1.30/mt from previous close.

Paris Sep ’16 Settle €159.00/t – down €2.30/mt from previous close.

Paris Dec ’16 Settle €164.00/t – down €2.25/mt from previous close.



Currency today:

GBP EUR 1.2376

EUR GBP 0.8074

EUR USD 1.1159

GBP USD 1.3807