- Location
- Lincolnshire
- US markets closed – Labour Day Holiday
- Argentine President Mauricio Macri said that the government would ask exporters, who have benefited from a sharp depreciation in the peso, to contribute more to the country’s fiscal accounts. Further stating that while exports taxes were a ‘bad tax’, the current movement is an ‘emergency’.
- China will almost entirely replace its soybean imports from the US, with Brazilian beans and other origins in the upcoming season, but may run out of the oilseed in early 2019, said an executive with a top crusher.
- The Russian Ag Ministry does not see preconditions for introduction of a wheat export duty, or other restrictive measures, in respect of grain supplies overseas, following a meeting with exporters yesterday.
- The Russian Ag Ministry is also considering an option to sell 1.5mln t of grain from the intervention fund in 2018-19 stored in Serbia, citing the measure will further contribute to stabilisation of prices, reduction of costs of grain storage, and will positively influence the market.
- Brussels reported non-EU soft wheat exports a/o Sept 2nd at 2.075mln t, down 51% y/y, with all-wheat exports reported at 2.213mln t, also down 51% y/y. Non-EU soft wheat imports were reported at 499tmt, up 2.7% y/y, with all-wheat imports at 553tmt, down 17.5% y/y.
London Nov ’18 Settle £180.70/t – down £1.45/tonne from previous close
Paris Dec ’18 Settle €202.25 – down €2.25/tonne from previous close
US overnight markets trading lower this morning, along with Paris and London, as markets react to the Russian export statement released yesterday.
Currency Today:
GBP EUR 1.1095
GBP USD 1.2835
EUR GBP 0.9010
EUR USD 1.1565