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Contents tagged with Grain Market Daily
13 July 2021
Rapeseed prices could be set for support following the decision of the European Union to impose import duties on Indonesian biodiesel. The increase in duty on the fuel could result in a switch in demand to biodiesel produced using other vegetable oils.
13 July 2021
Yesterday’s WASDE release saw an upward revision to US maize estimates in stark contrast to industry estimates which expected a lower value from July’s release.
13 July 2021
Monday could signal the end of the recent spate of maize led volatility, or could kick it into a whole other gear. Over the last three and a bit month’s global grain volatility has been heavily dictated by uncertainty over the US maize production number.
13 July 2021
Yesterday the French farm ministry upped its estimate of soft wheat production by a further 1.2Mt from its July estimate. The ministry now forecast French production to reach 38.2Mt, up 12% year-on-year, the largest French soft wheat crop since 2015 (EU commission – 40.9Mt).
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13 July 2021
European wheat markets moved down yesterday. UK feed wheat futures (Nov-19) closed at £144.80/t, down £1.15/t since Friday.
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13 July 2021
Up to 30th July, 31% of the oilseed rape crop had been harvested.
13 July 2021
UK feed wheat continued to track upwards yesterday although only marginally. From Monday’s close UK feed wheat futures (Nov-19) increased a further £0.25/t to close yesterday at £148.75/t. Paris milling wheat (Dec-19) also climbed yesterday, closing at €181.50/t, a rise of €1.00/t.
13 July 2021
The value of sterling has fallen to its weakest point against the dollar for more than two years ahead of a week of key economic data. Weakness in the value of sterling will act to support the value of UK agricultural products.
13 July 2021
European wheat markets have seen little movement this week. UK feed wheat futures (Dec-19) have traded within a £0.75 range from £146.25/t to £147.00/t since Monday. Paris milling wheat markets have traded between €179.25/t and €180.75/t at close yesterday. US grain markets have also been following a similar sideways trend. Chicago maize (Dec-19) traded within a $1.87 band and Chicago wheat (Dec-19) traded within $3.30 from Monday to yesterdays close. With cereal harvest underway in the northern hemisphere, yield and quality reports will be monitored closely to readjust any forecast currently in place.
13 July 2021
Today has seen Defra release the latest update to the Basic Payment Scheme planted area dataset that was first released a year ago. The dataset looks specifically at land use including grassland but we’re concentrating on the main crop areas in England only.
13 July 2021
Global grain markets remained relatively flat yesterday with no real change in fundamentals affecting the markets.
13 July 2021
As we move through July and into August progress of global wheat harvests becomes increasingly important to price direction.