- Location
- Lincolnshire
- US markets – soy lower on ideas that dry areas of Brazil will continue to decline after rains, offsetting Argentinian lost acres - corn lower on weaker soy, more favourable SA weather - wheat lower on weakness in other markets and poor export sales.
- USDA released demand/supply and US stock/planting data this Thursday, with all eyes on the US winter wheat planting report – average trade guess is for 34.4mln acres y vs 36.1mln last year – US/Global wheat stocks projected little changed.
- CFTC reports that managed money funds trimmed their Chicago wheat short by 5334 contracts last week – still reported to be 103,593 contract short (14.1mln tonnes).
- BAGE estimates the Argentinian wheat harvest at 95% complete, keeping its estimate of production at 15mln t.
- EU markets ended the week higher posting solid gains – support from weather concerns (extreme cold and little snow) and likelihood that the majority of the Algerian tender could be French which lifted premiums.
London May ’17 Settle £144.75/t – up £1.35/t from previous close
Paris May ’17 Settle €173.25/t – up €1.25/t from previous close
CBOT Mar ’17 Corn Settle $3.5800/bushel – down 3.25c/bushel from previous close
CBOT Mar ’17 Wheat Settle $4.2300/bushel – down 3.00c/bushel from previous close
Currency Today:
GBP EUR 1.1545
GBP US$ 1.2140
EUR GBP 0.8660
EUR USD 1.0515