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Arable Farming
Arable Market Commentary
Gleadell Daily Grain Comment - 8 February 2017
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<blockquote data-quote="ADM Agriculture" data-source="post: 3464368" data-attributes="member: 6746"><p> <ul> <li data-xf-list-type="ul">US markets – soy higher on slower US/SA farmer selling, increased Chinese buying – corn higher on talk of delayed Brazilian soy harvest – wheat up on unwinding of inter-market spreads.</li> <li data-xf-list-type="ul">US trade estimates US 2016-17 corn, wheat and soy stocks slightly lower m/m in USDA report due to be released tomorrow.</li> <li data-xf-list-type="ul">SA weather – Argentine 6-10 day forecast calls for normal temps and rain – Brazil could see normal rains.</li> <li data-xf-list-type="ul">Brazil, traditionally one of the world’s largest wheat importers, exported 33800t of wheat in December/January, and is expected to ship 244000t more in February.</li> <li data-xf-list-type="ul">French AgriMer ups French 2016-17 soft wheat ending stocks to 2.75mln t, from 2.6mln t previously, due to a lower non-EU export projection.</li> <li data-xf-list-type="ul">UK sterling firms, after some surprising comments made by a member of the BOE monetary policy committee, who believes an interest rate hike could ‘soon be warranted’.</li> </ul><p><strong>Last Trade Settle:</strong></p><p>London May ’17 Settle £148.00/t – up £0.55/t from previous close</p><p>Paris May ’17 Settle €170.75 – up €0.50/t from previous close</p><p>CBOT Mar ’17 Corn Settle $3.6850/bushel – up 4.75c/bushel from previous close</p><p>CBOT Mar ’17 Wheat Settle $4.3075/bushel – up 8.25c/bushel from previous close</p><p></p><p><strong>Currency Today:</strong></p><p>GBP EUR 1.1740</p><p>GBP US$ 1.2495</p><p>EUR GBP 0.8515</p><p>EUR USD 1.0640</p></blockquote><p></p>
[QUOTE="ADM Agriculture, post: 3464368, member: 6746"] [LIST] [*]US markets – soy higher on slower US/SA farmer selling, increased Chinese buying – corn higher on talk of delayed Brazilian soy harvest – wheat up on unwinding of inter-market spreads. [*]US trade estimates US 2016-17 corn, wheat and soy stocks slightly lower m/m in USDA report due to be released tomorrow. [*]SA weather – Argentine 6-10 day forecast calls for normal temps and rain – Brazil could see normal rains. [*]Brazil, traditionally one of the world’s largest wheat importers, exported 33800t of wheat in December/January, and is expected to ship 244000t more in February. [*]French AgriMer ups French 2016-17 soft wheat ending stocks to 2.75mln t, from 2.6mln t previously, due to a lower non-EU export projection. [*]UK sterling firms, after some surprising comments made by a member of the BOE monetary policy committee, who believes an interest rate hike could ‘soon be warranted’. [/LIST] [B]Last Trade Settle:[/B] London May ’17 Settle £148.00/t – up £0.55/t from previous close Paris May ’17 Settle €170.75 – up €0.50/t from previous close CBOT Mar ’17 Corn Settle $3.6850/bushel – up 4.75c/bushel from previous close CBOT Mar ’17 Wheat Settle $4.3075/bushel – up 8.25c/bushel from previous close [B]Currency Today:[/B] GBP EUR 1.1740 GBP US$ 1.2495 EUR GBP 0.8515 EUR USD 1.0640 [/QUOTE]
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Gleadell Daily Grain Comment - 8 February 2017
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