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Arable Farming
Arable Market Commentary
Gleadell Daily Grain Comment - 24th May 2016
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<blockquote data-quote="ADM Agriculture" data-source="post: 2511164" data-attributes="member: 6746"><p> <ul> <li data-xf-list-type="ul">The US Wheat conditions report was released last night with no change in terms of winter wheat condition @ 61% Gd/Exc (45% last year). Meanwhile US Planted Corn is @ 86% complete (90% last year, 85% 5yr avg) and US Planted Soybeans are @ 56% complete (56% last year. 52% 5 yr avg), all in all US crops are looking in good condition with a positive weather outlook.</li> </ul> <ul> <li data-xf-list-type="ul">A positive crop ratings report and favourable weather outlook in the central plains and Canada saw Chicago wheat move down c.5c/bu yesterday while Soy sees a pullback towards levels which have found support in the past.</li> </ul> <ul> <li data-xf-list-type="ul">The UK continues to see little discussion on FB while FW remains steady with merchant shorts driving the market mainly, despite expectations that consumers still have tonnage to buy for the remainder of the season. Consumers continue to take a risk-off back to back approach for new crop business as a rule with sporadic business taking place as a result.</li> </ul> <ul> <li data-xf-list-type="ul">German Consumer Confidence is reported tomorrow @ 0700BST WITH Bank of Canada Interest Rate decision announced @ 150BST. Thursday sees UK GDP Growth Rate data released @ 0930BST.</li> </ul><p><strong>Last Trade Settle:</strong></p><p></p><p>London July ’16 Settle £107.45/mt – down £0.40/mt from previous close.</p><p></p><p>London Nov ’16 Settle £116.40/mt – down £0.80/mt from previous close.</p><p></p><p>Paris Sep ’16 Settle €163.00/mt – down €0.50/mt from previous close.</p><p></p><p>Paris Dec ’16 Settle €168.25/mt – down €0.75 /mt from previous close.</p><p></p><p><strong>Currency today:</strong></p><p></p><p>GBP EUR 1.3035</p><p></p><p>EUR GBP 0.7666</p><p></p><p>EUR USD 1.1179</p><p></p><p>GBP USD 1.4539</p></blockquote><p></p>
[QUOTE="ADM Agriculture, post: 2511164, member: 6746"] [LIST][*]The US Wheat conditions report was released last night with no change in terms of winter wheat condition @ 61% Gd/Exc (45% last year). Meanwhile US Planted Corn is @ 86% complete (90% last year, 85% 5yr avg) and US Planted Soybeans are @ 56% complete (56% last year. 52% 5 yr avg), all in all US crops are looking in good condition with a positive weather outlook.[/LIST] [LIST][*]A positive crop ratings report and favourable weather outlook in the central plains and Canada saw Chicago wheat move down c.5c/bu yesterday while Soy sees a pullback towards levels which have found support in the past.[/LIST] [LIST][*]The UK continues to see little discussion on FB while FW remains steady with merchant shorts driving the market mainly, despite expectations that consumers still have tonnage to buy for the remainder of the season. Consumers continue to take a risk-off back to back approach for new crop business as a rule with sporadic business taking place as a result.[/LIST] [LIST][*]German Consumer Confidence is reported tomorrow @ 0700BST WITH Bank of Canada Interest Rate decision announced @ 150BST. Thursday sees UK GDP Growth Rate data released @ 0930BST.[/LIST] [B]Last Trade Settle:[/B] London July ’16 Settle £107.45/mt – down £0.40/mt from previous close. London Nov ’16 Settle £116.40/mt – down £0.80/mt from previous close. Paris Sep ’16 Settle €163.00/mt – down €0.50/mt from previous close. Paris Dec ’16 Settle €168.25/mt – down €0.75 /mt from previous close. [B]Currency today:[/B] GBP EUR 1.3035 EUR GBP 0.7666 EUR USD 1.1179 GBP USD 1.4539 [/QUOTE]
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Gleadell Daily Grain Comment - 24th May 2016
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