- Location
- UK
Cereals
The Sterling continued lower against both the euro and the US dollar in the wake of a weak Purchasing Managers' Index which fell to 50.1 in January, the lowest since July2016, and against 51.2 in December.
However, it was not enough to lend support to UK grains with May-19 LIFFE feed wheat settling at its lowest in nearly 7 months.
Ahead of Friday's USDA reports, grains remained mostly muted with traders staying on the sidelines.
According to Statistics Canada, the country's wheat and barley stocks at the end of December 2018 were down respectively 0.2% to 23.2MMT and 18.2% to 4.9MMT from a year ago.
US markets were set to close near equilibrium level awaiting for Friday's 'Big Data day'.
Oilseeds
With the confirmation of the recent US soybean sales to China [private US exporters reported today export sales of 2.6MMT of soybeans to China and 274KT for unknown destinations], CBOT soybean edged higher for a second consecutive session.
Canadian canola stocks at the end of December 2018 were pegged at a record 14.6MMT vs 13.9MMT last year [Source: StatsCan].
Matif rapeseed snapped a 3-day losing streak over a weakening euro although gains were limited due to today's bearish StatsCan report and a correction in energy prices.
Brazil soybean yields are stabilising thanks to the long-awaited rains spreading across the region. According to DERAL, the soybean harvest in the second largest producing state of Paraná is 25% complete.
Futures & Options Prices
The Sterling continued lower against both the euro and the US dollar in the wake of a weak Purchasing Managers' Index which fell to 50.1 in January, the lowest since July2016, and against 51.2 in December.
However, it was not enough to lend support to UK grains with May-19 LIFFE feed wheat settling at its lowest in nearly 7 months.
Ahead of Friday's USDA reports, grains remained mostly muted with traders staying on the sidelines.
According to Statistics Canada, the country's wheat and barley stocks at the end of December 2018 were down respectively 0.2% to 23.2MMT and 18.2% to 4.9MMT from a year ago.
US markets were set to close near equilibrium level awaiting for Friday's 'Big Data day'.
Oilseeds
With the confirmation of the recent US soybean sales to China [private US exporters reported today export sales of 2.6MMT of soybeans to China and 274KT for unknown destinations], CBOT soybean edged higher for a second consecutive session.
Canadian canola stocks at the end of December 2018 were pegged at a record 14.6MMT vs 13.9MMT last year [Source: StatsCan].
Matif rapeseed snapped a 3-day losing streak over a weakening euro although gains were limited due to today's bearish StatsCan report and a correction in energy prices.
Brazil soybean yields are stabilising thanks to the long-awaited rains spreading across the region. According to DERAL, the soybean harvest in the second largest producing state of Paraná is 25% complete.
Futures & Options Prices