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Gleadell Daily Grain Comment - 26 January 2017

ADM Agriculture

Member
Trade
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.
Last Trade Settle:
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
 

How is your SFI 24 application progressing?

  • havn't been invited to apply

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    Votes: 17 20.5%
  • applied but not yet accepted

    Votes: 29 34.9%
  • agreement up and running

    Votes: 8 9.6%

Webinar: Expanded Sustainable Farming Incentive offer 2024 -26th Sept

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On Thursday 26th September, we’re holding a webinar for farmers to go through the guidance, actions and detail for the expanded Sustainable Farming Incentive (SFI) offer. This was planned for end of May, but had to be delayed due to the general election. We apologise about that.

Farming and Countryside Programme Director, Janet Hughes will be joined by policy leads working on SFI, and colleagues from the Rural Payment Agency and Catchment Sensitive Farming.

This webinar will be...
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