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Contents tagged with Grain Market Daily
7 April 2020
Yesterday evening the first USDA crop progress report of the 2020/21 marketing year was released.
3 April 2020
The ADAS crop development report to the end of March, released today, gives us the first indications of how winter crops have fared over the winter and the progress of spring drilling so far. Unsurprisingly, for all winter crops there are a greater proportion sitting in the ‘poor to very poor condition’ category than at this point last year.
2 April 2020
In times of uncertainty, markets can act in a very volatile and erratic manner to news stories. This is especially true when we consider the impact of political intervention in grain markets. Over the past fortnight, we have heard a number of stories, particularly from the Black Sea, surrounding export restrictions for wheat in Ukraine, Russia and Kazakhstan.
1 April 2020
The prospects for an increased planted area has further added to the bearish tone in US maize markets.
31 March 2020
Paris rapeseed futures rose yesterday as the coronavirus temporarily curbs Malaysian palm oil production, despite Brent crude oil futures falling to an 18 year low.
27 March 2020
The value of sterling has continued to rally since my last GMD (Wednesday). At yesterday’s close £1=$1.220 and £1=€1.106. Sterling has continued to gain strength today. Dollar weakness is likely a key driver of the recent strength, with US data released yesterday showing a record number of citizens claiming for unemployment support.
25 March 2020
• The US government and senate have agreed a new stimulus package to try and reduce the impact of the coronavirus outbreak on the US economy. The $2 trillion dollar package which includes a raft of measures aimed at supporting the US economy still needs to go through congress but is viewed as a step in the right direction.
24 March 2020
There was still a degree of volatility yesterday for sterling, as markets continue to react to global news.
20 March 2020
Sterling was volatile throughout the day as various news and information emerged, with knock-on impacts for UK feed wheat futures.
19 March 2020
The pound continued to fall yesterday against the dollar, reaching lows not recorded since 1985, finishing the day at £1=$1.1613. At 9:30 this morning, the pound had fallen to £1=$1.1563.
18 March 2020
Driving the gains in UK and Paris wheat futures yesterday was yet again currency, a surge in the value of the dollar and subsequent loss in the value of the pound and euro, shielding the domestic market from the overall continued bearish global sentiment.
17 March 2020
The European association Coceral revised its 2020/21 cereal production estimates from initial forecasts last month in a report released yesterday.