- Location
- Lincolnshire
- US markets – soy lower despite reports that 2mln acres of beans still need to be planted in Argentina - corn higher on reports of heavy rains in Argentina seen slowing planting - wheat lower despite talk of colder weather entering the Plains/Midwest and W Eur.
- BAGE estimates that Argentina will harvest 15mln t of wheat in 2016-17, up from previous estimate of 12.5mln t due to an increase in area – up from 4.3mln ha to 4.7mln.
- Algeria are seeking 50,000t of optional-origin wheat – Jordan passed on 25,000t optional-wheat, set to re-tender.
- China’s factory activity picked up more than expected in December, with output reaching a near six-year high – giving the manufacturing sector a solid boost heading into 2017.
- Planting of India’s wheat crop has been completed in 96% of the seasonal area, at 29.2mln ha – area sown to wheat is 2% more than normal by this time, and 7.7% more y/y.
- Activity in the UK’s manufacturing sector hit a two-and-a-half high last month – Market/CIPS purchasing managers’ index (PMI) rose to 56.1 in December, from 53.6 the month before (above 50.0 indicates expansion) and £ found strength as a result.
London May ’17 Settle £141.45/t – up £0.45/t from previous close
Paris May ’17 Settle €171.25/t – up €0.75/t from previous close
CBOT Mar ’17 Corn Settle $3.5575/bushel – up 3.75c/bushel from previous close
CBOT Mar ’17 Wheat Settle $4.0650/bushel – down 1.50c/bushel from previous close
Currency Today:
GBP EUR 1.1755
GBP US$ 1.2275
EUR GBP 0.8500
EUR USD 1.0440