- Location
- Lincolnshire
- Chicago wheat held steady yesterday in what was a surprisingly quiet day across most ag commodities, in terms of volatility, even with Soy holding relatively unchanged following a limit-up move post-USDA on the previous day.
- Kansas city, historically a premium futures market to Chicago, lost out yesterday again as expectations for a strong yield in HRW regions continue to grow following from the 3-day Kansas crop tour earlier in the month.
- Data from the Brazilian Ag Ministry has shown that last months corn imports of 106,000t have mainly been satisfied by Argentina, even into the North of the country where expectations would usually be for the US to cover owing to cheaper freight rates.
- BoE Interest Rate decision announcement is made today @ 1200BST with their inflation report to follow, German GDP Growth Rate QoQ and YoY data is released tomorrow @ 0700BST with EU GDP Growth Rate QoQ and YoY @ 1000BST.
- Cntrl US sees rains over the weekend with cooler than normal temps as does Cntrl Eur & W Russia/FSU. Australia remains dry for most in the 5-day as does Brazil, while Nrth Arg receives light rains.
Last Trade Settle:
London May '16 Settle £106.00/mt –up £0.60/mt from previous close (Expiry 23/5/16).
London July ’16 Settle £106.45/mt – up £0.45/mt from previous close.
London Nov ’16 Settle £116.50/mt – up £0.25/mt from previous close.
Paris Sep ’16 Settle €160.25/mt – up €0.75/mt from previous close.
Paris Dec ’16 Settle €166.50/mt – up €0.50 /mt from previous close.
Currency today:
GBP EUR 1.2662
EUR GBP 0.7893
EUR USD 1.1389
GBP USD 1.4430