- Location
- UK
Cereals
- Wheat markets are doing there best to shake off harvest pressure on both sides of the Atlantic with prices at or near multi-month lows.
- It is worth noting that funds are holding their shortest position since May, this can increase the risk of sharp fund buy backs which can provide sellers with opportunities.
- Large global supplies are currently hindering the wheat markets attempts to make a recovery.
- Brazil is looking for government approval on a duty-free quota to import 750KT of wheat after recent rains in the South (see chart of the day).
- Farmers in the West of the Corn Belt are making good pace with their harvests supported by decent weather.
- Egypt is to issue new guidelines on imports of wheat in order to avoid further import disruptions due to contaminated shipments.
Oilseeds
- Oilseeds supported as veg oil prices were boosted by hopes of higher demand from Asia.
- China imported 8MT of soybeans in September which was a record with the majority coming from Brazil.
- October will end much drier than normal in the key soybean producing region of Matto Grosso, Brazil.
Futures & Options prices
