Has the price rally run out of steam?

CRM AgriCommodities

Member
Arable Farmer
Location
UK
Wheat corrects lower as signs of rain loom

Cereals

  • Wheat prices retreated lower as signs of rain across arid winter wheat areas in the US (Kansas and Oklahoma) and in Russia muted some of the concerns in the market - see charts of the day.
  • Black Sea rains have helped extinguish some of the concerns around production in Russia, whereas dry European weather has led to lower estimates for wheat and OSR this year.
  • Furthermore, rains in Australia helped to ease concerns of crops being planted into a dust bowl.
  • Conab will publish their report tomorrow where dry conditions are expected to lead to a further drop in production.
  • Egypt has apparently purchased 70% of the 4MT of wheat that they wish to purchase off local farmers this harvest.
  • Traders have been managing risks today ahead of the USDA May report which will be released tomorrow. This report will provide the first insight into 2018/19 world S&D. The report is seen as a major USDA report for the year.

FOR MARKET OPINIONS, INDEPENDENT BUYER & SELLER STRATEGIES, OR TO FIND OUT MORE, GET IN TOUCH WITH US - [email protected]

Oilseeds

  • Poor conditions have likely already had a detrimental impact on EU rapeseed crops helping support prices.
  • Funds sold positions on soybeans as the took position ahead of tomorrows USDA report.
  • WTI was up over 3% as the US backed out of the Iran nuclear deal and promised to implement tougher sanctions, this helped underpin veg oils.

FOR MARKET OPINIONS, INDEPENDENT BUYER & SELLER STRATEGIES, OR TO FIND OUT MORE, GET IN TOUCH WITH US - [email protected]

Futures & Options prices
 

SFI - What % were you taking out of production?

  • 0 %

    Votes: 80 42.1%
  • Up to 25%

    Votes: 67 35.3%
  • 25-50%

    Votes: 30 15.8%
  • 50-75%

    Votes: 3 1.6%
  • 75-100%

    Votes: 3 1.6%
  • 100% I’ve had enough of farming!

    Votes: 7 3.7%

Red Tractor drops launch of green farming scheme amid anger from farmers

  • 1,294
  • 1
As reported in Independent


quote: “Red Tractor has confirmed it is dropping plans to launch its green farming assurance standard in April“

read the TFF thread here: https://thefarmingforum.co.uk/index.php?threads/gfc-was-to-go-ahead-now-not-going-ahead.405234/
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