International Grain, Seed and Fertiliser Merchant

Tuesday 20 February 2018

Filter

Daily Grain Comments

  • US markets close – US markets were closed yesterday for President’s Day. This morning soy is up 14 c/bu on disappointing Argentine rains, with corn up 1.0 c/bu and wheat up 3 cents/bushels.
  • Brokers trim hopes for agriculture price rises, despite market’s strong start to the year, following limited downgrades to globally productivity and little change to demand forecast.
  • Algeria are back in tomorrow for April-May wheat. Current values place Argentine wheat at a $15/t discount vs EU, and with exporters purchases of wheat higher than current export licences, it is envisaged that they may ‘pick-off’ a part of the business.
  • Logistical issues and strong export demand lifts Russian wheat prices to multi-month highs, pushing MATIF higher ahead of the Algerian tender.
  • UK May18 LIFFE trades sideways in its current trading range, albeit physical remains firm vs futures, but sees little flat price movement, particularly in the tight areas in the NE/NW/Scotland.

Last Trade Settlement:

London May ’18 Settle £138.45/t – up £0.80/tonne from previous close

Paris May ’18 Settle €162.25 – up €1.25/t from previous close

CBOT Mar ’18 Corn Settle  – market closed

CBOT Mar ’18 Wheat Settle – market closed

Currency Today:

GBP EUR    1.1335

GBP USD    1.4005

EUR GBP    0.8815

EUR USD    1.2350

Latest Tweets

Follow Us

Get updates

Registered Office:
Lindsey House, Hemswell Cliff,
Gainsborough, Lincolnshire DN21 5TH.

Company Number: 534118