International Grain, Seed and Fertiliser Merchant

Tuesday 6 March 2018

Filter

Daily Grain Comments

  • US markets close – soy higher on drier two week forecast for Argentina. Corn mixed on talk of lower South American supplies/lower US acres supports, increased farmers selling/large stocks weigh. Wheat higher on talk of a drier than normal weather pattern (US plains).
  • Informa lowered its estimates for Argentine crop, pegging soy at 44mln t (down from 51mln t) and corn at 33.5mln t ( down from 37mln t), while increasing its estimates for Brazilian crops, lifting soy to 114mln t ( up from 112.5mln t) and corn to 89mln t (from 88mln t).
  • Argentine weather forecast has limited rains for the week ahead, with scattered light showers in the north. The 6-10 day forecast has close to average rain to fall in most of Argentina. Temperatures are seen average/below average.
  • Brazilian weather forecast has decent rains to fall in northern Brazil in the next 10 days and limited rainfall seen for southern Brazil over next 10 days – temperatures seen average.
  • US weather sees things quiet for most of the week, with the 6-10 day period seeing quiet weather for the western sections of KA, OK and TX, and light to moderate rains in the east. Close to average temperatures are seen for the plains over the next 10 day period.
  • Brazil’s 2017-18 soy harvest advanced to 35% of the area vs 47% y/y, reported Agrural, with farmers planting 63% of the second corn crop area in the Central south compared with 75% y/y. Corn harvest in the central south of the first corn crop was 24% vs 29% y/y.
  • China’s animal feed makers will find ways to cope if a deepening trade dispute with the US hurts imports of commodities, the chairman of the nation’s top feed market commented.
  • Russian wheat prices rose last week, as concerns about damage to crops from dry weather in the US boosted prices, coupled with strong export demand and seasonally lower supplies from the Ukraine.
  • Russia’s February exports of wheat, barley and maize (corn) are estimated at 3.75mln t, up from 3.5mln t in January, SovEcon reported.
  • The condition of winter crops in France deteriorated last week to hit a four-year low, ahead of a sharp drop in temperature. FranceAgriMer said 83% of the soft wheat crop was in good or excellent condition, down from 85% w/w and 93% y/y.

Last Trade Settlement:

London May ’18 Settle £142.90/t – up £1.25/tonne from previous close

Paris May ’18 Settle €165.75 – up €1.00/tonne from previous close

CBOT May ’18 Corn Settle  – $3.7825/bushel – down 0.50 cents/bushel from previous close

CBOT May ’18 Wheat Settle – $5.0925/bushel – up 9.25 cents/bushel from previous close – trading down 4-6c/bushel this morning

Currency Today:

GBP EUR    1.1220

GBP USD    1.3850

EUR GBP    0.8910

EUR USD    1.2340

Latest Tweets

Follow Us

Get updates

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

Company Number: 534118