International Grain, Seed and Fertiliser Merchant

Friday 8 December 2017


Daily Grain Comments

  • US markets – soy lower on talks of rain in Argentina. Corn lower on weaker soy complex and fears of a slow-down in Chinese demand. Wheat lower (another session of contract lows) on slow US demand and rising global availability.
  • SAm weather forecast continues with below normal rainfall for Argentina albeit some/S Brazil over next week, above average in N Brazil. Temperatures look to run above average in most areas over next week, but no severe heat looks to occur.
  • Argentina’s soybean planting progress is a little delayed due to dry weather conditions for most, however, the dry weather has been beneficial for wheat harvesting and early planted soybeans are emerging in good condition.
  • Ukraine has exported 17.5mln t of grain so far this marketing year, down from about 18.8mln t in the same period last year. Exports included 10.1mln t of wheat and around 3.6mln t of maize.
  • Russia will spend 2bln rubles ($34mln) in grain transportation subsidies to help speed exports in 2018. Trying to step-up a gear keeping its grain storage, railway transport and export infrastructure, working at maximum capacity following this year’s record harvest.
  • Brazil will issue a decree today laying out terms of grains and oilseeds trade with Russia, particularly wheat and soybeans, which could reopen the Russian market for Brazilian meat products.
  • UK sterling firms on apparent deal struck on Irish border issue. Breakthrough deal paves way for future Brexit trade talks/relationship.

Last Trade Settlement:

London May ’18 Settle £142.05/t – down £0.55/t from previous close

Paris May ’18 Settle €164.25 – down €0.25/t from previous close

CBOT Dec ’17 Corn Settle $3.3875/bushel – down 0.50 cents/bushel from previous close

CBOT Dec ’17 Wheat Settle $3.9425/bushel – down 4.25 cents/bushel from previous close

Currency Today:

GBP EUR    1.1480

GBP USD    1.3470

EUR GBP    0.8710

EUR USD    1.1735

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Lindsey House, Hemswell Cliff,
Gainsborough, Lincolnshire DN21 5TH.

Company Number: 534118