- Location
- Lincolnshire
- US markets – soy lower as funds continue to add to weak technical signals. Corn lower on increased US farm selling and declining demand for US exports. Wheat mixed as market trades just above contract lows with little news to push market higher or lower.
- US$ rebounded from a 2½ year low, as Asian stocks rebounded following their cue from Wall Street’s stronger close on concerns about North Korea’s firing of a missile over Japan.
- A Farm Futures survey of US planting intentions for 2018 indicated producers expect to cut back on soybean and plant more corn and wheat in the coming crop year. Soy 86.1mln ac (down 3.9% y/y), corn 92.8mln ac ( up 2.1% y/y), all-wheat 48.1mln ac (up 5.4% y/y).
- US Midwest weather forecast has no major changes with soaking rains in the Ohio river valley, but rains do look to be limited over the next 10 days. No threatening temperatures for crop areas.
- US Delta weather sees rainfall increasing from previous ideas across much of the region on remnants from Harvey.
- Matif rose on the back of a weaker euro, with farmers in general not selling due to low prices and ongoing concerns over quality in Northern Europe.
London Nov ’17 Settle £138.75/t – up £0.50/t from previous close
Paris Dec ’17 Settle €159.75 – up €2.25/t from previous close
CBOT Dec ’17 Corn Settle $3.4550/bushel – down 3.25 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.2975/bushel – unchanged from previous close
Currency Today:
GBP EUR 1.0835
GBP USD 1.2885
EUR GBP 0.9280
EUR USD 1.1890