- Location
- Lincolnshire
- US markets – soybeans higher, linked to rumours that China may but US products. Corn higher on soy strength, although talk that crushers are covered may slow corn usage. Wheat unchanged with low plantings/slower Russian exports supporting, slow US demand weighs.
- US Treasury Secretary Minuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade talks scheduled for Jan 30, but trade representative Lighthizer has resisted the idea.
- Brazilian weather has decent rainfall for all Brazil, except the far northeast over the next 5 days. The 6-10 forecast is for average/below average rainfall for all Brazil, except again for the far northeast where below average rainfall is forecast.
- Argentine weather is mainly dry for the first half of the week, with a front still seen bringing fairly soaking rains to all areas later this week.
- BAGE sees Argentine soy planted area at 17.7mln ha, down from a previous forecast of 17.9mln ha, due to adverse weather in the northern farm belt. Planting was cited at being 98.8% complete, with corn plantings 89.3% complete, though rains seen delayed plantings in some areas.
- Russia’s Ag Ministry will regulate domestic grain prices, cited the minister, although he did not say when the regulation would start, but does not expect domestic grain prices to rise in the mid-term.
- The EU Commission proposed on Friday two mandates for trade negotiations with the US, designed to cut tariffs on industrial goods and to deepen regulatory cooperation, although the proposals fall short of the wish-list set out by Washington a week ago.
London May ’19 Settle £173.10/t – up £0.10/tonne from previous close
Paris May ’19 Settle €205.00 – unchanged from previous close
CBOT Mar ’19 Soybeans Settle - $9.1675/bushel – up 9.00 cents/bushel from previous close
CBOT Mar ’19 Corn Settle - $3.8175/bushel – up 1.75 cents/bushel from previous close
CBOT Mar ’19 Wheat Settle – $5.1775/bushel – unchanged from previous close
Currency Today:
GBP EUR 1.1295
GBP USD 1.2850
EUR GBP 0.8845
EUR USD 1.1375