- Location
- Lincolnshire
- US markets – soybeans higher on South American weather, positive trade talks supports. Corn marginally lower, although underpinned by trader optimism. Wheat marginally lower as slow exports, lower EU prices, offered resistance.
- US/China officials announced positive talks after the first day of meeting between the two countries.
- IEG Vantage (previously Informa) pegged US winter wheat acres at 31.513mln acre down 740,000 acres, from a previous forecast and against last year’s USDA number of 32.535mln acres.
- Brazilian weather sees moderate rainfall over the next 5 days, with limited rains in the northeast. The 6-10 day forecast has close to average rainfall in most areas.
- Argentine weather quietens down, except for the far north over the next few days, before another front bringing soaking rains arrives by the end of the week.
- EU reported a/o Jan 6th all-wheat non-EU exports at 9.037mln t, down 26.4% y/y, all wheat imports reported at 2.984mln t, up 18.5% y/y with maize imports at 11.732mln t, up 48% y/y.
London May ’19 Settle £178.25/t – down £0.50/tonne from previous close
Paris May ’19 Settle €206.75 – down €1.25/tonne from previous close
CBOT Mar ’19 Soybeans Settle - $9.2425/bushel – up 2.75 cents/bushel from previous close
CBOT Mar ’19 Corn Settle - $3.8225/bushel – down 0.75 cents/bushel from previous close
CBOT Mar ’19 Wheat Settle – $5.1675/bushel – down 0.25 cents/bushel from previous close
Currency Today:
GBP EUR 1.1150
GBP USD 1.2760
EUR GBP 0.8965
EUR USD 1.1445