- Location
- UK
Cereals
Futures & Options prices
- Sterling was once again the main feature as it drifted lower against the Euro and USD, but when the US and EU markets turned south erasing all of yesterday's gains the UK market couldn't hold on to gains.
- UK's Defra pegs domestic wheat crop at 14.476MlnT and barley at 6.652MlnT. Cereal use for animal feed shows wheat currently favouring other feed grains (See chart of the day).
- EU soft wheat export licences have now reached 6.778MlnT for the season; barley trade is non-existant with exports at 1.196MlnT for the season v 3.667 LY; maize imports have reached 2.076MlnT as exports are at 611kT.
- CONAB (Brazil) estimate 2016/17 corn prod. at 82.3-83.8MlnT v 66.7 LY.
- The EU rapeseed market is stuck in a rut and is range bound, but the UK market continues to be supported by sterling weakness and remains at contract highs.
- There looks like some respite for the parched French OSR crop as rains are in the forecast.
- CONAB (Brazil) estimate 2016/17 Soybean prod. at 101.9-104MlnT v 95.4 LY.
- The Sterling fell again against the US$ and Euro.
- Crude oil continued to rise and broke the $50/bbl level on WTI.
Futures & Options prices