- Location
- UK
Cereals
In a dearth of fresh news and ahead of Friday's USDA NASS reports (US Stocks & Prospective Plantings), grains ended mostly lower after wheat reached a 1-month high yesterday on both sides of the Atlantic.
The Sterling continued higher with MPs voting on different options for the withdrawal agreement whilst PM Theresa May said she would resign if her deal is passed.
Domestically, Gp1 milling wheat isstill in strong demand with premiums (over feed wheat) above £20/T ie the highest for this time of the season in 4 years.
Matif wheat continued lower for a second consecutive day after French offers were not as competitive as the US origin in yesterday's GASC 120KT purchase.
According to today's Euronext data, speculators were net buyers of nearly 4K lots on Matif wheat in the week ending Mar 22nd and they were net long (131 lots) for the first time in three weeks.
Maize remained under pressure today with May-19 CBOT corn having failed to breakthrough the c$380/bu mark.
Operators will keep a close eye on Friday's US corn planting estimate and dryness in southern Brazil ahead of the critical pollination stage in April.
Oilseeds
In the wake of weakening US soybean prices and after hitting its 360€/T technical resistance level, May-19 Matif rapeseed contract ended lower although losses were limited.
On the physical market, the £300/T ex-farm are still available for new crop July delivery.
CBOT soybeans abandoned 1.5%, falling to a 4-month low amid a lack of progress regarding a potential US-China trade deal and rapid soybean harvest progress in Brazil.
According to today's Euronext data, speculators barely changed their position on Matif rapeseed in the week ending Mar 22nd, still net long of 10.5K contracts.
Futures & Options prices
To book onto our next grain marketing course in Cirencester on 2nd May, click here.
In a dearth of fresh news and ahead of Friday's USDA NASS reports (US Stocks & Prospective Plantings), grains ended mostly lower after wheat reached a 1-month high yesterday on both sides of the Atlantic.
The Sterling continued higher with MPs voting on different options for the withdrawal agreement whilst PM Theresa May said she would resign if her deal is passed.
Domestically, Gp1 milling wheat isstill in strong demand with premiums (over feed wheat) above £20/T ie the highest for this time of the season in 4 years.
Matif wheat continued lower for a second consecutive day after French offers were not as competitive as the US origin in yesterday's GASC 120KT purchase.
According to today's Euronext data, speculators were net buyers of nearly 4K lots on Matif wheat in the week ending Mar 22nd and they were net long (131 lots) for the first time in three weeks.
Maize remained under pressure today with May-19 CBOT corn having failed to breakthrough the c$380/bu mark.
Operators will keep a close eye on Friday's US corn planting estimate and dryness in southern Brazil ahead of the critical pollination stage in April.
Oilseeds
In the wake of weakening US soybean prices and after hitting its 360€/T technical resistance level, May-19 Matif rapeseed contract ended lower although losses were limited.
On the physical market, the £300/T ex-farm are still available for new crop July delivery.
CBOT soybeans abandoned 1.5%, falling to a 4-month low amid a lack of progress regarding a potential US-China trade deal and rapid soybean harvest progress in Brazil.
According to today's Euronext data, speculators barely changed their position on Matif rapeseed in the week ending Mar 22nd, still net long of 10.5K contracts.
Futures & Options prices
To book onto our next grain marketing course in Cirencester on 2nd May, click here.