- Location
- Lincolnshire
- US markets remain under pressure generally – soy sees small losses as supply prospects improve in SAM (hits 2-week low & 2% down on the week), corn sees losses over concerns on Trump-Mexico relationships, while wheat follows suit, despite large weekly US export sales.
- USDA reported weekly US exports of wheat @ 853,400mt last week, well above the highest trade expectation of 400,000mt. Meanwhile BAGE reports Argentine ‘16/17 Soy crop at 53.5m mt (previous 56m mt), citing rains as the main reason for the fall.
- The GASC tender yesterday saw mainly Russian wheat offered at the values, one cargo of Romanian & US also offered competitively, with values between $192-195 CIF Russia making the bulk.
- UK LIFFE market saw little change yesterday as £ generally firmed on the day, albeit slightly weaker this morning. Physical remains slow on wheat!
- US Growth Rate QoQ Advanced figures are released this afternoon 1330GMT, with expectations to be slightly lower than last ¼, but still buoyant.
London May17 Settle £149.00/t – up £0.20/t from previous close
Paris May17 Settle E171.00/t – unchanged from previous close
Currency Today:
GBP EUR 1.1745
GBP USD 1.2568
EUR GBP 0.8511
EUR USD 1.0697