- Location
- Lincolnshire
- US markets – soy higher on new buying linked to hopes that China will return from holiday a buyer of US beans, plus uncertain SA weather. Corn marginally higher as harvest lags, with some producers concentrating on soybeans. Wheat slightly higher on pre-holiday/report buying, but down in overnight again.
- BAGE reports that half of Argentina’s 5.4mln ha planted with wheat for the 2017-18 season are affected by excessively moist conditions, stating that heavy rains in recent months have already reduced the wheat planted area by 150,000ha.
- EU soft wheat exports in the 2017-18 season had reached 4.7mln t a/o Oct 3rd, 35% down from the 7.3mln t exported by the same stage last season.
- French farmers had harvested 15% of this year’s maize harvest by Oct 2nd, up from 5% a week earlier. For soft wheat, 8% of the expected area had be sown, compared with 5% a year earlier.
- LIFFE wheat continues to trade sideways in a choppy market with low volumes, on the back of currency fluctuations and wide-ranging forecasts on wheat production from the UK ag ministry.
London Nov ’17 Settle £143.60/t – up £0.50/t from previous close
Paris Dec ’17 Settle €165.25 – down €0.75/t from previous close
CBOT Dec ’17 Corn Settle $3.5000/bushel – up 0.50 cents/bushel from previous close
CBOT Dec ’17 Wheat Settle $4.4350/bushel – up 2.75 cents/bushel from previous close
Currency Today:
GBP EUR 1.1170
GBP USD 1.3120
EUR GBP 0.8950
EUR USD 1.1734