International Grain, Seed and Fertiliser Merchant

Tuesday 22 January 2019

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Daily Grain Comments

  • US markets – closed for Martin Luther King day holiday.
  • Brazilian weather has decent rainfall for all Brazil, except the far northeast over the next 5 days. The 6-10 forecast is for average/below average rainfall for all Brazil, except again for the far northeast where below average rainfall is forecast.
  • Argentine weather is mainly dry for the first half of the week, with a front still seen bringing fairly soaking rains to all areas later this week.
  • Yesterday brought more rumours/newswires about Russian export restrictions, amidst lobbying by the Russian Grain Union to put in place some kind of export licence scheme favouring Russian companies.
  • Newswires report a private consulting company citing a government document putting Ukrainian wheat shipments a/o Jan 18th at 13.3mln t, compared with last week’s Ag Ministry figure of 11.1mln t – as agreed volume is 16mln t. Clarification on which figure is correct is needed.
  • EU reported non-EU soft wheat exports a/o Jan 20th at 8.96mln t, down 27% y/y, with non-EU soft wheat imports were reported at 2.89mln t, up 48% on the year. Corn (maize) imports reported at 13.4mln t, up 45% on the year.

Last Trade Settlement:

London May ’19 Settle £173.75/t – up £0.65/tonne from previous close

Paris May ’19 Settle €206.00 – up €1.00/tonne from previous close

CBOT Mar ’19 Soybeans Settle  – $9.1675/bushel – unchanged from previous close

CBOT Mar ’19 Corn Settle  – $3.8175/bushel – unchanged from previous close

CBOT Mar ’19 Wheat Settle – $5.1775/bushel – unchanged from previous close

This morning US markets are trading between 1-3 cents/bushel lower

Currency Today:

GBP EUR    1.1355

GBP USD    1.2900

EUR GBP    0.8800

EUR USD    1.1360

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

Company Number: 534118