- Location
- Lincolnshire
- US markets generally under pressure from USD, soy remains unchanged as the market digests SAm weather, corn holds steady on losses seen earlier in the week, wheat also maintains losses, but not lower.
- GASC tenders for an open tonnage of wheat today, shipment March 1st-10th. Eyes will be on values from recent suppliers Russia, following recent talk that exports are falling behind target rates.
- US biofuel credit dropped to a 1-year low yesterday, following concerns over the delayed implementation of 30 EPA regulations finalised during the Obama regulation. President Trump made it clear throughout his election campaign that “green energy regulation” would be a target if he won the Presidential election.
- UK wheat futures markets pull back gradually on the back of a firm £, physical pulls back in line, however domestic trade continues to be slow.
- UK GDP QoQ growth rate released this morning @ 0.6% (forecast 0.4%) and YoY 2.2% (forecast 2%).
- UK £ has pulled back from its high this morning, but continues on its recent upward trajectory as the market shrugs off the supreme court ruling on Brexit from earlier in the week.
London May17 Settle £148.8/t – down £1.10/t from previous close
Paris May17 Settle E171.00/t – down E0.5/t from previous close
Currency Today:
GBP EUR 1.1779
GBP USD 1.2637
EUR GBP 0.8487
EUR USD 1.0723