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Gleadell Daily Grain Comment - 31 January 2017

ADM Agriculture

Member
Trade
Location
Lincolnshire
  • US markets – soy lower on profit taking as SA weather remains favourable, talk of Chinese demand switching to SA – corn on demand concerns despite larger than expected weekly shipments – wheat lower on reports that winterkill fears over the weekend were minimal.
  • CFTC reports showed managed money extended their short Chicago wheat position last week by 3682 contract – now seen 88699 contract short (12.07mln t) - also went long of corn/soybean just as SA weather turned more positive which led the ‘sell-off’ yesterday.
  • Brazil’s soybean harvest reported as 4.3% complete a/o Jan.26th (AgRural), in line with the 4.2% complete at the same time last year, and above the 3.1% five year average.
  • Indian farmers increased winter crop plantings by about 6% from the same time last year – wheat plantings seen at 31.56mln hectares.
Last Trade Settle:
London May ’17 Settle £148.00/t – down £1.05/t from previous close
Paris May ’17 Settle €168.75 – down €1.50/t from previous close
CBOT Mar ’17 Corn Settle $3.5775/bushel – down 4.75c/bushel from previous close
CBOT Mar ’17 Wheat Settle $4.1400/bushel – down 6.50c/bushel from previous close

Currency Today:
GBP EUR 1.1680
GBP US$ 1.2495
EUR GBP 0.8560
EUR USD 1.0695
 

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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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