International Grain, Seed and Fertiliser Merchant

Tuesday 8 January 2019

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Daily Grain Comments

  • US markets – soybeans higher on South American weather, positive trade talks supports. Corn marginally lower, although underpinned by trader optimism. Wheat marginally lower as slow exports, lower EU prices, offered resistance.
  • US/China officials announced positive talks after the first day of meeting between the two countries.
  • IEG Vantage (previously Informa) pegged US winter wheat acres at 31.513mln acre down 740,000 acres, from a previous forecast and against last year’s USDA number of 32.535mln acres.
  • Brazilian weather sees moderate rainfall over the next 5 days, with limited rains in the northeast. The 6-10 day forecast has close to average rainfall in most areas.
  • Argentine weather quietens down, except for the far north over the next few days, before another front bringing soaking rains arrives by the end of the week.
  • EU reported a/o Jan 6th all-wheat non-EU exports at 9.037mln t, down 26.4% y/y, all wheat imports reported at 2.984mln t, up 18.5% y/y with maize imports at 11.732mln t, up 48% y/y.

Last Trade Settlement:

London May ’19 Settle £178.25/t – down £0.50/tonne from previous close

Paris May ’19 Settle €206.75 – down €1.25/tonne from previous close

CBOT Mar ’19 Soybeans Settle – $9.2425/bushel – up 2.75 cents/bushel from previous close

CBOT Mar ’19 Corn Settle – $3.8225/bushel – down 0.75 cents/bushel from previous close

CBOT Mar ’19 Wheat Settle – $5.1675/bushel – down 0.25 cents/bushel from previous close

Currency Today:

GBP EUR    1.1150

GBP USD    1.2760

EUR GBP    0.8965

EUR USD    1.1445

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

Company Number: 534118