- Location
- UK
Cereals
- Wheat prices in the UK and Europe continued to rise today on concerns of ongoing dry conditions across Western Europe, as well as further sterling weakness against its Euro counterpart.
- Corn prices in the US found support today as storms across the US delayed plantings.
- Lower domestic Chinese corn prices led to March corn imports falling to a 3 1/2 year low.
- US spring wheat and corn plantings have made good progress this week, although remain well behind last years pace and the 5 yr average for spring wheat (see chart of the day).
- US winter wheat ratings remain unchanged at 54% good to excellent (see chart of the day #3).
Oilseeds
- Palm oil prices dropped after recent gains today as the Malaysian Ringgit strengthened and rising production applied pressure.
- Wider oilseeds retreated on lower palm with a stronger Euro keeping OSR from recovering any further.
- US soybean plantings remain ahead of last year although early days with a record area expected.
Chart of the Day#1: US planting progress
Chart of the Day#2: US winter wheat ratings
Chart of the Day#3: US winter wheat ratings map
Futures & Options prices
