- Location
- UK
Cereals
With the likelihood of Article 50 being extended, the Sterling continued sharply higher against both the US dollar and the euro, reaching its highest level since Sep-18 and May-17 respectively.
Consequently, May-19 LIFFE feed wheat continued lower for a 2nd consecutive session, settling at a more than 8-month low.Matif wheat was also under pressure, hitting a fresh 7-month low on May-19 over sluggish exports and in the wake of lower US wheat prices.
Old-crop CBOT wheat scored fresh contract lows for a second consecutive session over the same catalyst ie sluggish exports with the end of the 2018/19 marketing season in sight. Mar-19 CBOT wheat has now lost about 8.4% so far this year.
US winter wheat ratings are mostly lower from early November 2018 across key producing states of the Plains following a pretty cold winter which is likely to continue in March.
In the wake of the sell-off seen in wheat/barley prices, good conditions in Argentina and record high EU maize imports (+45% year-on-year), the soon-expiring Mar-19 Matif maize contract plunged to a fresh 1-year low.
Taiwan was reported to have purchased 110KT of US wheat in a tender whilst South Korea continues with its corn purchasing programme, 68KT booked today.
Oilseeds
May-19 Matif rapeseed ended lower in 12 out of the last 13 sessions and settled at its lowest level in nearly 10 months, following soybeans and veg oil lower.
Despite encouraging comments emerging from the US-China trade discussions, traders await firm purchases before getting 'excited'.
Brazilian farmers continue to make good progress with their soybean harvest ie new supplies becoming available whilst Argentine conditions improve in the southern part of the country.
Private US exporters reported the flash export sales of 120KT of soybeans to Mexico of which 48KT for the 2018/19marketing year and 72KT for the 2019/20season.
Futures & Options prices
With the likelihood of Article 50 being extended, the Sterling continued sharply higher against both the US dollar and the euro, reaching its highest level since Sep-18 and May-17 respectively.
Consequently, May-19 LIFFE feed wheat continued lower for a 2nd consecutive session, settling at a more than 8-month low.Matif wheat was also under pressure, hitting a fresh 7-month low on May-19 over sluggish exports and in the wake of lower US wheat prices.
Old-crop CBOT wheat scored fresh contract lows for a second consecutive session over the same catalyst ie sluggish exports with the end of the 2018/19 marketing season in sight. Mar-19 CBOT wheat has now lost about 8.4% so far this year.
US winter wheat ratings are mostly lower from early November 2018 across key producing states of the Plains following a pretty cold winter which is likely to continue in March.
In the wake of the sell-off seen in wheat/barley prices, good conditions in Argentina and record high EU maize imports (+45% year-on-year), the soon-expiring Mar-19 Matif maize contract plunged to a fresh 1-year low.
Taiwan was reported to have purchased 110KT of US wheat in a tender whilst South Korea continues with its corn purchasing programme, 68KT booked today.
Oilseeds
May-19 Matif rapeseed ended lower in 12 out of the last 13 sessions and settled at its lowest level in nearly 10 months, following soybeans and veg oil lower.
Despite encouraging comments emerging from the US-China trade discussions, traders await firm purchases before getting 'excited'.
Brazilian farmers continue to make good progress with their soybean harvest ie new supplies becoming available whilst Argentine conditions improve in the southern part of the country.
Private US exporters reported the flash export sales of 120KT of soybeans to Mexico of which 48KT for the 2018/19marketing year and 72KT for the 2019/20season.
Futures & Options prices
