International Grain, Seed and Fertiliser Merchant

Thursday 19th October


Daily Grain Comments

  • US markets – Soy slightly lower as rumours of Chinese buying off the PNW underpinned – Corn marginally lower on lack of news and yield reports that continue to lean towards better than expected – Wheat lower on stronger US$, and concerns over demand for US exports
  • The US Wheat Associates, a trade group that promotes US exports, is closing their offices in Egypt after 40 years – the decision reflects the loss in market share for US wheat exports into Egypt, as the country has turned to Russia and other suppliers for their requirements
  • Ministers agree to extend talks on the NAFTA renegotiation into the first quarter 2018 – talks had been scheduled to conclude this year, but the three sides (US, Mexico and Canada) remain far apart on key issues
  • US Midwest weather has no major changes as rains will move into the west over the week-end, and the east Sunday/Monday, with drier weather returning for the rest of next week – temperatures seen above average for this week, before cooling to average/below next week
  • US Southern plains weather has no major changes as will remain dry the rest of this week with moderate rains for KA and OK over the week-end, dry weather returns for most of next week – temperatures average/above for rest of the week and then average next week
  • South American weather has light/moderate rains falling across Northern Argentina, until drier weather returns over the week-end and next week – moderate rains seen for southern Brazil this week/week-end with Northern Brazil remaining dry
  • Algeria purchased 660,000t of optional-origin wheat (January/February shipment) at an average price near $210-212 per tonne, with France the likely supplier
  • European wheat futures fell yesterday, adjusting to weaker Chicago markets, in a subdued session during which news of a large purchase by Algeria (660,000t) failed to bring fresh impetus to the market

Last Trade Settlement:

London Nov ’17 Settle  £139.40/t – down £0.05/t from previous close

Paris Dec ’17 Settle €161.50 – down €1.00/t from previous close

CBOT Dec ’17 Corn Settle $3.4850/bushel – down 1.50 cents/bushel from previous close

CBOT Dec ’17 Wheat Settle $4.3000/bushel – down 4.75 cents/bushel from previous close


Currency Today:

GBP EUR    1.1180

GBP USD    1.3175

EUR GBP    0.8940

EUR USD    1.1780


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

Company Number: 534118