- Location
- UK
Cereals
Despite CBOT being closed today, EU wheat values recovered from technical support levels as speculation grew around Russia taking steps to limit grain exports.
Russian exports of wheat, barley, and maize were estimated by SovEcon at 2.3MT down from 4.3MT in December as rising Russian prices make the export giant increasingly uncompetitive.
A stronger rouble also accounted for less competitive Russian wheat export values.
Syria is rumored to have bought 135KT of Russian wheat at a price equivalent to $272/T FOB.
Maize imports into Europe remain on track to break records following the drought experience last year.
Continued optimism over US/China trade talks added to the bullish sentiment in the grain markets.
Crude oil prices have continued to find support amid optimism on a US/ China trade deal being reached.
Oilseeds
Crude oil continued to trend higher providing positive undertones to the oilseeds markets.
EU OSR was supported as veg oil values rose.
CBOT was closed therefore markets will need to wait until they reopen with expected higher values on trade talk optimism.
Futures & Options prices
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Despite CBOT being closed today, EU wheat values recovered from technical support levels as speculation grew around Russia taking steps to limit grain exports.
Russian exports of wheat, barley, and maize were estimated by SovEcon at 2.3MT down from 4.3MT in December as rising Russian prices make the export giant increasingly uncompetitive.
A stronger rouble also accounted for less competitive Russian wheat export values.
Syria is rumored to have bought 135KT of Russian wheat at a price equivalent to $272/T FOB.
Maize imports into Europe remain on track to break records following the drought experience last year.
Continued optimism over US/China trade talks added to the bullish sentiment in the grain markets.
Crude oil prices have continued to find support amid optimism on a US/ China trade deal being reached.
Oilseeds
Crude oil continued to trend higher providing positive undertones to the oilseeds markets.
EU OSR was supported as veg oil values rose.
CBOT was closed therefore markets will need to wait until they reopen with expected higher values on trade talk optimism.
Futures & Options prices
To receive our daily news straight into your inbox every evening, sign up here https://crmagri.us12.list-manage.com/subscribe?u=3ff340f3a7f8fae8fcb7979ba&id=1f138db2f8