- Location
- Lincolnshire
- The weekly US crop progress report was released last night with Corn planted @ 64% (last season @ 69%, 5 yr avg. @ 50%), Corn emerged @ 27% (last season @ 23% & 5 yr avg. @ 17%), winter wheat condition @ 62% Gd/Exc (last season @ 44%, last week 61%). Generally US feed grains for new season looking in relatively good condition.
- Analysts estimates for this afternoons USDA S&D report, @ 1700BST, look for a slight increase in All US wheat production YoY and 15/16 US ending stocks with a similar picture on the global front. The big interest will be around the Corn production figure following South American weather issues but a large forecast planted area in the US.
- The UK market continues to hold relatively level on old crop wheat physical prices while old crop barley sees reduced demand following a lull in exports for the back end of the season.
- UK Balance of Trade figures are released today @ 0930BST, BoE Interest Decision and Quantitative Easing reported on Thursday @ 12000BST.
- The forecast sees little change from yesterday.
Last Trade Settle:
London May '16 Settle £105.95/mt –down £1.05/mt from previous close (Expiry 23/5/16).
London July ’16 Settle £106.55/mt
London Nov ’16 Settle £116.40/mt – down £1.10/mt from previous close.
Paris May '16 Settle €146.75/mt – down €4.25/mt from previous close (Expiry 10/5/16).
Paris Sep ’16 Settle €159.50/mt
Paris Dec ’16 Settle €166.00/mt – down €1.50/mt from previous close.
Currency today:
GBP EUR 1.2659
EUR GBP 0.7896
EUR USD 1.1387
GBP USD 1.4422