- Location
- UK
Cereals
The main news from today's grain world was obviously the results of Egypt's GASC tender which bought 360KT of wheat but none from Russia.
The FSU country origin was simply too expensive with FOB offersin excess of $255/T vs the cheapest $243/T offer from the US.
However, due to its freight advantage, France secured its first 180KT since mid-July 2017. The remainder was 180KT from Romania.
Despite last week's new payment system which was expected to drag offers lower, the average FOB price paid by the GASC remained close to the $250/T mark ie in line with the previous tender [Jan 9th] and +$45/T from a year ago.
Despite today's Egypt purchase, both LIFFE and Matif wheat finished close to equilibrium level amid a 1% fall in the US over fund selling/weak export inspections data and despite winterkill risks in parts of the Midwest.
Oilseeds
EU rapeseed fell to a 1-week low on technical consideration and weakening veg oil prices.
The European oilseed was also under pressure after the EU 'concluded that US soya beans meet the technical requirements to be used in biofuels in the EU, and has formally recognised the scheme until 1 July 2021' [more info here].
The US soy complex was set to finish in the red ahead of tomorrow's US-China trade talks in Washington and after the US filed criminal charges against Chinese telecoms company Huawei.
Weather forecast improves in South America although private analysts continue to lower their Brazilian soy production forecast.
Futures & Options Prices
CRM Agri Grain Marketing Training Course
"A highly valuable day for our business. It provided us with confidence to make decisions and manage price volatility. A clear and simple explanation on a complex topic has no doubt helped to transform the way we market our grain.” Pete Collins, Partner, MJ & SC Collins.
Click below to book our next courses in Cirencester (Feb 6th) or Cambridge (March 7th) .
Use DISCOUNT CODE: CRMAGRI2019 and save 20%
OR
Can't make those dates? Send us a message if you want to know more about our upcoming grain marketing courses!
Cirencester - 6th February https://www.eventbrite.co.uk/e/grain-marketing-course-cirencester-tickets-53649342628
Cambridge - 7th March
https://www.eventbrite.co.uk/e/crm-...ourse-cambridge-tickets-53744185305?aff=ebapi
The main news from today's grain world was obviously the results of Egypt's GASC tender which bought 360KT of wheat but none from Russia.
The FSU country origin was simply too expensive with FOB offersin excess of $255/T vs the cheapest $243/T offer from the US.
However, due to its freight advantage, France secured its first 180KT since mid-July 2017. The remainder was 180KT from Romania.
Despite last week's new payment system which was expected to drag offers lower, the average FOB price paid by the GASC remained close to the $250/T mark ie in line with the previous tender [Jan 9th] and +$45/T from a year ago.
Despite today's Egypt purchase, both LIFFE and Matif wheat finished close to equilibrium level amid a 1% fall in the US over fund selling/weak export inspections data and despite winterkill risks in parts of the Midwest.
Oilseeds
EU rapeseed fell to a 1-week low on technical consideration and weakening veg oil prices.
The European oilseed was also under pressure after the EU 'concluded that US soya beans meet the technical requirements to be used in biofuels in the EU, and has formally recognised the scheme until 1 July 2021' [more info here].
The US soy complex was set to finish in the red ahead of tomorrow's US-China trade talks in Washington and after the US filed criminal charges against Chinese telecoms company Huawei.
Weather forecast improves in South America although private analysts continue to lower their Brazilian soy production forecast.
Futures & Options Prices
CRM Agri Grain Marketing Training Course
"A highly valuable day for our business. It provided us with confidence to make decisions and manage price volatility. A clear and simple explanation on a complex topic has no doubt helped to transform the way we market our grain.” Pete Collins, Partner, MJ & SC Collins.
Click below to book our next courses in Cirencester (Feb 6th) or Cambridge (March 7th) .
Use DISCOUNT CODE: CRMAGRI2019 and save 20%
OR
Can't make those dates? Send us a message if you want to know more about our upcoming grain marketing courses!
Cirencester - 6th February https://www.eventbrite.co.uk/e/grain-marketing-course-cirencester-tickets-53649342628
Cambridge - 7th March
https://www.eventbrite.co.uk/e/crm-...ourse-cambridge-tickets-53744185305?aff=ebapi