- Location
- UK
Cereals
Trade was quiet today with the CBOT closed for Presidents day.
Euronext wheat trader lower sharply once more during the session continuing to look for export demand with a large port lineup indicating strong demand amidst high Russian prices.
Domestic basis levels remain strong indicating strong demand in the home market and also some exports.
The 'investigation' continues into the disparity between BPS and Defra area.
The drought this year has meant that Australia's wheat production has fallen to an 11 year low at 17.3MT according to ABARES, making it the lowest since2007/08 when they produced 13.6MT.
French wheat ratings remain steady on last year but below the 5-year average (see the chart of the day).
Oilseeds
Brazils soybean harvest is currently at 36% according to local sources, dry weather has led to crop reductions with further reductions expected.
EU soymeal imports are up 10% so far this season as cheap supplies continue to displace relatively expensive OSR supplies.
Malaysian palm oil prices are expected to remain stable in 2019 according to the MPOC.
Futures & Options prices
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Trade was quiet today with the CBOT closed for Presidents day.
Euronext wheat trader lower sharply once more during the session continuing to look for export demand with a large port lineup indicating strong demand amidst high Russian prices.
Domestic basis levels remain strong indicating strong demand in the home market and also some exports.
The 'investigation' continues into the disparity between BPS and Defra area.
The drought this year has meant that Australia's wheat production has fallen to an 11 year low at 17.3MT according to ABARES, making it the lowest since2007/08 when they produced 13.6MT.
French wheat ratings remain steady on last year but below the 5-year average (see the chart of the day).
Oilseeds
Brazils soybean harvest is currently at 36% according to local sources, dry weather has led to crop reductions with further reductions expected.
EU soymeal imports are up 10% so far this season as cheap supplies continue to displace relatively expensive OSR supplies.
Malaysian palm oil prices are expected to remain stable in 2019 according to the MPOC.
Futures & Options prices
To receive our daily news free into your inbox every evening, click here https://crmagri.us12.list-manage.com/subscribe?u=3ff340f3a7f8fae8fcb7979ba&id=1f138db2f8