- Location
- Lincolnshire
– Chicago wheat futures fell to fresh lows on front month contracts, meanwhile Kansas front month wheat contract traded below $4.00/bu for the first time since 2006, on news that the Canadian wheat crop has the potential to be a large/good quality crop while some concerns continue in N Europe on quality (USDA expectations Canada wheat 27.6m mt, private expectations pushing that towards 30m mt).
– New market direction will look to tonight’s USDA acreage report with traders expecting a small reduction in US Corn plantings, a small increase in Soybeans and little change in all wheat.
– French/Black Sea traders of feed barley & wheat have continued to push aggressive sale prices onto the market for new crop which is currently undercutting UK by c.€6/mt as their carry-over stocks from this season continue to put pressure on harvest logistics.
– UK consumer Confidence was released at better than expected levels this morning with YoY GDP Growth Rate @ 2% as expected, the ECB Monetary Policy Meeting is held this afternoon @ 1230BST.
– The forecast sees little movement on the week.
Last Trade Settle:
London July ’16 Settle £109.00/mt – down £0.75/mt from previous close.
London Nov ’16 Settle £120.60/mt – down £2.40/mt from previous close.
Paris Sep ’16 Settle €156.75/t – down €3.00/mt from previous close.
Paris Dec ’16 Settle €162.00/t – down €3.00/mt from previous close.
Currency today:
GBP EUR 1.2120
EUR GBP 0.8244
EUR USD 1.1119
GBP USD 1.3483
– New market direction will look to tonight’s USDA acreage report with traders expecting a small reduction in US Corn plantings, a small increase in Soybeans and little change in all wheat.
– French/Black Sea traders of feed barley & wheat have continued to push aggressive sale prices onto the market for new crop which is currently undercutting UK by c.€6/mt as their carry-over stocks from this season continue to put pressure on harvest logistics.
– UK consumer Confidence was released at better than expected levels this morning with YoY GDP Growth Rate @ 2% as expected, the ECB Monetary Policy Meeting is held this afternoon @ 1230BST.
– The forecast sees little movement on the week.
Last Trade Settle:
London July ’16 Settle £109.00/mt – down £0.75/mt from previous close.
London Nov ’16 Settle £120.60/mt – down £2.40/mt from previous close.
Paris Sep ’16 Settle €156.75/t – down €3.00/mt from previous close.
Paris Dec ’16 Settle €162.00/t – down €3.00/mt from previous close.
Currency today:
GBP EUR 1.2120
EUR GBP 0.8244
EUR USD 1.1119
GBP USD 1.3483