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1-DAY Grain Market Price Risk Management Course:
Grains lower on too much supply, oilseeds awaiting fresh news.
Cereals
Oilseeds
1-DAY Grain Market Price Risk Management Course:
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Grains lower on too much supply, oilseeds awaiting fresh news.
Cereals
- UK, EU & US wheat markets drift lower throughout the day as lack of news and favourable weather conditions weigh on prices. French Maize futures continue to be the star performer in the grains sector as planting delays have supported the price.
- Feed Wheat - Speculators leave 170 lot long position unchanged as of 10th May.
- UkrAgroConsult raises Ukrainian wheat prod. forecast to 21.5mlnT from 19.8 prev.
- Informa Economics lower US corn area to 93.4 Mln ac v USDA 93.6 MLn ac.
- Egypt local wheat purchases closing in on the 3MlnT mark.
- US corn plantings estimated at 76% complete for tonight's plantings progress report.
- Russian wheat (12.5% protein content) export prices rise again up towards $195/T on strong demand.
- Monsoon delays in India are not affecting plantings according to officials.
Oilseeds
- OSR closed unchanged to a touch higher with other oilseed markets trading lower on the seed and meal side and higher on oil.
- NOPA April crush slows to 147.614Mln bu, Soymeal exports 769kT and soyoil stocks 1.943Bln lbs.
- US soybean basis improves on reduced producer selling.
- Informa Economics raise US soybean area to 83 Mln ac v USDA 82.2 Mln ac.
- US soybean plantings estimated at 76% complete for tonight's plantings progress report.
- Australian milk production to fall as processors slash farmgate prices.
- Egypt looking to buy 1 MlnT of rice as reserve.
- Latest Brexit Poll: ICM phone poll "In" leads and online poll the "Out" leads.
- Brent crude oil is above $49 and trying to home on the psychological $50/brl mark.