Gleadell Daily Grain Comment - 28 June 2017

ADM Agriculture

Member
Trade
Location
Lincolnshire
  • US markets – soy higher on lower crop ratings. Corn marginally higher on unchanged crop ratings, talk of lower acreage and long-term forecast suggesting warmer, drier conditions. Wheat higher on lower US$ and forecast calling for limited rain/high temperatures moving into the Northern Plains later this week.
  • US weather – Midwest looks to have an absence of heat and average to above average precipitation into early next week.
  • US weather – Northern Plains have below average precipitation for the western half of the region, and moderate rains to fall in the eastern region.
  • US weather – 11-16 day forecast has weak ridge, producing below average precipitation in most of the Midwest, Delta and Northern Plains, with average to above average temperatures.
  • Continuing tension over the North American Free Trade Agreement (NAFTA) is causing headaches for many US farmers and concerns for agricultural lenders.
  • Matif wheat made their sixth consecutive lower close as a 10-month high in the euro (against the US$) outweighed US gains and debate over potential crop losses to the French/EU wheat crops.
Last Trade Settlement:
London Nov ’17 Settle £146.50/t – up £1.50/t from previous close
Paris Dec ’17 Settle €175.25 – down €0.75/t from previous close
CBOT Dec ’17 Corn Settle $3.7750/bushel – up 0.50 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.9125/bushel – up 3.25 cents/bushel from previous close

Currency Today:
GBP EUR 1.1285
GBP USD 1.2820
EUR GBP 0.8860
EUR USD 1.1355
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 110 38.6%
  • Up to 25%

    Votes: 107 37.5%
  • 25-50%

    Votes: 41 14.4%
  • 50-75%

    Votes: 6 2.1%
  • 75-100%

    Votes: 4 1.4%
  • 100% I’ve had enough of farming!

    Votes: 17 6.0%

May Event: The most profitable farm diversification strategy 2024 - Mobile Data Centres

  • 2,969
  • 49
With just a internet connection and a plug socket you too can join over 70 farms currently earning up to £1.27 ppkw ~ 201% ROI

Register Here: https://www.eventbrite.com/e/the-mo...2024-mobile-data-centres-tickets-871045770347

Tuesday, May 21 · 10am - 2pm GMT+1

Location: Village Hotel Bury, Rochdale Road, Bury, BL9 7BQ

The Farming Forum has teamed up with the award winning hardware manufacturer Easy Compute to bring you an educational talk about how AI and blockchain technology is helping farmers to diversify their land.

Over the past 7 years, Easy Compute have been working with farmers, agricultural businesses, and renewable energy farms all across the UK to help turn leftover space into mini data centres. With...
Top