- Location
- Lincolnshire
- US markets – soy higher on disappointing US yields and a continued dry trend in Brazil. Corn lower, although onset of heavy rains in the corn-belt that may slow harvest limited losses. Wheat lower on talk on lower US demand, possible rise in Indian import duties.
- US Midwest weather sees little change, with soaking rains for much of the region before quieting down over the weekend and early next week. Temperatures below average early next week with potential frosts in MN, Northern IO and western WN.
- US Southern Plains weather sees little change as soaking rains over next 4 days before quieting down for most of next week. Temperatures seen running average to above average over the next 10 days
- US$ fell back from recent highs against most currencies on speculation that President’s choice for the next Fed chair could be a less ‘hawkish’ candidate than some had expected.
- The World Bank raised its growth forecast for the developing economies of East Asia and the Pacific, but warned that risks include rising protectionism and escalating tensions over North Korea.
- China’s maize stockpile could fall to 79.2mln t, a 5 year low by September 2018, as reforms in the maize sector could result in farmers planting less maize, with perceived increases in domestic consumption.
- Ukraine’s grain exports totalled 11.2mln t so far this season, including 6.48mln t of wheat and around 1.2mln t of maize. This compares with exports of 11.3mln t, including 7.2mln t of wheat at the same time last year.
London Nov ’17 Settle £143.65/t – unchanged from previous close
Paris Dec ’17 Settle €166.00 – down €1.00/t from previous close
CBOT Dec ’17 Corn Settle $3.4825/bushel – down 1.25 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.4200/bushel – down 6.00 cents/bushel from previous close
Currency Today:
GBP EUR 1.1210
GBP USD 1.3200
EUR GBP 0.8915
EUR USD 1.1775