International Grain, Seed and Fertiliser Merchant

Wednesday 15 November 2017


Daily Grain Comments

  • US markets – soy lower as favourable SAm weather triggered new selling below key support levels. Corn lower (new contract lows) on talk of slower Chinese growth. Wheat higher on talk of spread trading (soybean/wheat) slightly lower crop ratings and lower US$.
  • Rumours surfaced yesterday that Egypt have reinstated a zero tolerance for ergot on wheat imports, although this would only be of interest to Russian exports as the only country with outstanding GASC shipments.
  • China’s CNGOIC reported that November soybean imports could come in lower than the 9mln t expected, due to delayed cargoes in ports waiting on GMO safety certificates along with port congestion after above normal arrivals.
  • BAGE estimates that 12% of the Argentine crop is planted, although dry weather expected in main planting areas over the next week may cause planting delays.
  • Brazilian consultancy MB Agro sees 2017-18 soybean production at 110mln t, down from 114mln t last year, with corn production estimated at 85-90mln t, down from their previous estimate of 100mln t.
  • French farm ministry slightly lifted its forecast for this year’s grain maize crop to 13.1mln t, up from 13mln t previously. Estimated soft wheat crop at 37.5mln t, reduced from 37.9mln t last month, with rapeseed now seen at 5.35mln t against 5.5mln t last month.

Last Trade Settlement:

London Nov ’17 Settle £138.25/t – up £0.45/t from previous close

Paris Dec ’17 Settle €159.75 – up €0.25/t from previous close

CBOT Dec ’17 Corn Settle $3.3750/bushel – down 4.75 cents/bushel from previous close

CBOT Dec ’17 Wheat Settle $4.2800/bushel – up 3.75 cents/bushel from previous close

Currency Today

GBP EUR    1.1130

GBP USD    1.3170

EUR GBP    0.8980

EUR USD    1.1830

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

Company Number: 534118