EU Wheat Higher After Yo-Yo Session

30/04/13 -- It was a yo-yo sort of a day to end the month, as is befitting of a weather market. Early follow though gains in the overnight Globex session saw EU grains open higher, only to slip back into the red once the daytime open outcry Chicago session quickly turned lower. Towards the close of European trading however much of the CBOT session was back in the green, dragging EU grains back up

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Put It All On Red, No Black, No Red

30/04/13 -- The overnight market sees some follow through from last night's strong gains with corn up 6-8 cents, beans up around 12-13 cents and wheat flat to 2 cents firmer in our first real weather market of 2013.


Heavy fund buying last night, particularly in corn where they were estimated to have picked up around a net 30,000 contracts, sent prices sharply higher. The USDA added fuel to

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Chicago Off To A Flyer - Led By Corn

29/04/13 -- Soycomplex: Spillover support from corn sent the complex sharply higher, even though delays to corn planting could mean a switch to more soybean acres. This was only partially reflected in new crop months, which also still posted some decent gains of their own. Weekly export inspections of 8.935 million bushels were above trade expectations, and up on last week's 5.059 million. The

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EU Wheat Higher As Weather Market Grips

29/04/13 -- EU grains, which were generally only modestly higher in morning trade, moved significantly higher in the afternoon once America woke up.


London wheat closed with front month May 13 up GBP1.50/tonne at GBP192.50/tonne and with new crop Nov 13 rising GBP1.60/tonne to GBP183.55/tonne. May 13 Paris wheat jumped EUR5.75/tonne firmer at EUR248.25/tonne.


The pound set a fresh 3 1/2

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EU Rapemeal Prices

29/04/13 -- Rapemeal prices on the continent are firmer on old crop and weaker on new crop today. Tight availability due to reduced crush and seasonal downtime is keeping May/Jul offers fully steady.

Some improvement in new crop rapeseed production prospects trims offers for August onwards a little, although rapemeal prices for the winter are still at historically high levels when compared as a

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Morning News

29/04/13 -- The overnight grains are firmer, led by corn up 12-14 cents, with wheat 7-8 cents firmer and soybeans 2-3 cents higher. Weather forecasts in the US look colder and wetter for the week ahead, especially in the May 1-5 timeframe. Corn is obviously viewed as the one to least benefit from that. The USDA will report tonight on US corn planting progress with the trade expecting 8-10% of the

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Dates For The Diary In The Week Ahead

27/04/13 -- Upcoming important events for the week ahead:

Monday: Weekly export inspections from the USDA; Weekly US crop progress from the USDA (corn planting expected 8-10% complete, US winter wheat conditions may fall 1-2% in the good/excellent category); Chinese Dalian market closed.


Tuesday: German and EuroZone unemployment data; The Wheat Quality Council's US winter wheat tour begins;

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Chicago Mixed, Soybeans Up, Wheat And Corn Down

26/04/13 -- Soycomplex: Beans traded both sides, but managed to close with modest gains, despite minimal support from wheat or corn. There's talk of more Chinese soybean cancellations and/or rolling over of existing old crop purchases into new crop. Based on yesterday's weekly export sales data the US already has 99% of the USDA target for the season on the books, and 92% of it is shipped already

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Old Crop London Wheat Closes At Lowest Since Early August

26/04/13 - The EU grains market closed mixed but mostly lower on the day, with old crop London wheat pretty friendless. New crop London wheat was supported by questionable production prospects here, even if things are improving on the Continent. The May/Nov spread tonight stands at GBP8.75/tonne, little more than half the  GBP16.50/tonne it was at the start of the month.


London wheat closed

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Chicago Closing Comments - Thursday

25/04/13 -- Soycomplex: Strength in outside markets spilled over into the soycomplex, despite net cancellations of 206,300 MT in old crop beans and sales of "only" 628,500 MT for new crop in today's weekly export sales report. The trade was expecting net combined sales of 600 TMT to 1 MMT. The Buenos Aires Cereals Exchange estimated the Argentine soybean crop at 48.5 MMT, unchanged from their

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EU Wheat Rebounds From Multi-Month Lows

25/04/13 -- EU grains closed mostly higher, following the US market lead, and rebounding modestly from recent multi-month lows.


On the day, May 13 London wheat closed GBP0.75/tonne higher at GBP192.75/tonne and with new crop Nov 13 GBP0.10/tonne firmer to GBP182.95/tonne. May 13 Paris wheat settled EUR1.75/tonne higher at EUR241.50/tonne.


The pound rose following the news that the UK had

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Get The Bunting Out

25/04/13 -- News that the UK managed to avoid slipping into a dreaded triple dip recession with growth of a MASSIVE 0.3% in the first quarter of 2013 was all it took to get the pound up above 1.18 against the euro and over 1.54 against the dollar today.


Chancellor George Osborne, the great big cry baby, said that the news was "encouraging" in a stunning display of gregariousness.


There's talk

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EU Rapemeal Prices Mostly Lower

25/04/13 -- Rapemeal prices on the continent are mostly lower today on an improving new crop rapeseed outlook across most of Europe. Oil World yesterday forecast production in Ukraine in 2013 up 54% to 2 MMT.


Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change from previous session:
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Apr13
Unq
n/a

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Chicago Closing Comments - Wednesday

24/04/13 -- Soycomplex: Beans closed lower for a third session in a row, pressured by an improved Midwest weather outlook. Lanworth Inc increased their forecast for US soybean production this year from 3.38 billion bushels to 3.42 billion, up 12% on output of 3.015 billion in 2012. News that the Chinese bird flu outbreak has now spread to Taiwan was also viewed as bearish. The H7N9 Bird Flu virus

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EU Wheat Extends Slide As Global Production Prospects Improve

24/04/13 -- EU grains spent most of the day on the defensive again, with May 13 London wheat slipping to lows not seen since last July, as production prospects in many places around the globe improve.


London wheat closed with front month May 13 down GBP1.05/tonne at GBP192.00/tonne and new crop Nov 13 down GBP1.15/tonne at GBP182.85/tonne. May 13 Paris wheat closed EUR1.25/tonne lower at

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Stats Canada Forecast Big Leap In Wheat Plantings

24/04/13 -- Stats Canada are forecasting a 12% jump in all wheat plantings this year from 23.798 million acres in 2012 to 26.719 million for the 2013 harvest.

The figure is well above the average trade estimate of 24.4 million acres, and significantly higher even than the highest trade estimate for which the range was 23.3-25.2 million.

Many of these near 3 million extra acres are seen coming

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EU Rapemeal Prices

24/04/13 -- Rapemeal prices on the continent remain steady nearby, supported by tight availability, but the further forward positions are finally showing signs of cracking. Hopes that the worst is over for new crop potential and an improvement in prospects for US soybean production in 2013 leave few wanting to commit to forward purchases at these levels.


Latest guide prices for EU rapemeal

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Chicago Closing Comments - Tuesday

23/04/13 -- Soycomplex: Beans were firmer nearby on strong demand, but weaker further forward on an improved weather forecast for the Midwest and concerns about global economic growth, particularly in China - the world's biggest soybean buyer. The USDA announced the sale of 392,000 MT of new crop soybeans to China, although this seemed largely ignored. Talk that some US farmers had already made

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London Wheat Ends At 8-Month Low On Talk Of Black Sea Return To Market

23/04/13 - The EU grains market was under pressure all day on talk of improving crop conditions in Europe and a better weather outlook for the US Midwest in the week ahead. There's also talk of Russia and Ukraine both potentially re-entering the wheat export market, adding to the negative tone.


London wheat closed with front month May 13 down GBP2.45/tonne at GBP193.05/tonne and new crop Nov 13

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EU Rapemeal Prices

23/04/13 -- Rapemeal prices on the continent are lower today, consolidating from recent steep gains. Nearby availability remains tight though on reduced crushings, but demand is starting to wane as the weather improves.


Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change from previous session:
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Apr13

Unq


n/a

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Chicago Ends Lower To Start The Week

22/04/13 -- Soycomplex: A weekend of less severe weather than anticipated, and an improved outlook for the week ahead set the tone. China imported 3.84 MMT of soybeans last month, down 20.4% from a year ago, according to customs data. That takes Jan/Mar imports to 11.49 MMT, down 13.35% from a year ago. At least some of this decline will have been down to shipping delays out of Brazil.

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EU Grains Lower To Start The Week

22/04/13 -- EU grains closed mostly lower on news of less severe weather in the US over the weekend than the market had feared, and ideas that EU and Black Sea production potential for 2013 is trending higher.


On the day, May 13 London wheat closed down GBP0.50/tonne at GBP195.50/tonne and with new crop Nov 13 GBP2.15/tonne easier to GBP184.50/tonne. May 13 Paris wheat settled EUR1.75/tonne

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Panic Over!

22/04/13 -- The EU Commission’s Monitoring Agricultural Resources unit (also known as MARS) say the following with regards to UK crop production potential this year:


"For all crops, while the likelihood of realising their full potential is somewhat compromised by these long delays, it is still too early to revise the forecasts that have been made in the previous bulletin based on the temporal

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EU Rapemeal Prices

22/04/13 -- Rapemeal prices on the continent are mostly a tad lower for once, in light consolidation after posting very strong gains over the past week, encouraged perhaps by a softer tone to the soymeal market Friday night and again this morning.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
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Chicago Market Consolidates Ahead Of Weekend

19/04/13 -- Soycomplex: Beans closed well off the session highs in what was probably profit-taking ahead of the weekend. Talk of corn planting delays leading to extra soybean acres for the 2013 harvest added a bit of weakness. Strong old crop demand should continue to support the nears though. As well as soybean commitments running at 99.7% of USDA targets for the season, meal sales are also at

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EU Wheat Mixed On The Day, Lower On The Week

19/04/13 -- EU grains spent most of the day with London wheat a little lower and Paris wheat a touch higher. The fact that in euro terms Nov 13 London feed wheat is actually dearer than Nov 13 Paris milling wheat is interesting. This could be a limiting factor for new crop prices in the UK no matter how poor current production prospects look here.

London wheat closed with front month May 13

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EU Rapemeal Prices

19/04/13 -- Rapemeal prices on the continent just keep on rising on seasonal tightness in availability due to plant downtime and a slump in rapeseed oil prices.


Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change from previous session:
.nobrtable br { display: none }





Apr13
Unq
n/a


May13
323.00
n/a

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Chicago Close - Thursday

18/04/13 -- Soycomplex: Weekly export sales of 339,400 MT of old crop and 227,400 MT of new crop were in line with trade expectations of a combined 400-700 TMT. Old crop sales are now 99.7% of the USDA target for the season. The USDA also reported the sale of 252 TMT of new crop soybean sales to China. Argentine farmers are said to be reluctant sellers of new crop beans due to inflation concerns

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EU Wheat Closing Comments - Thursday

18/04/13 -– The EU grains market closed mixed, on a day when outside influences took a back seat and traders weighed up an assortment of data from various private forecasters.


London wheat closed with front month May 13 down GBP1.00/tonne at GBP197.00/tonne and new crop Nov 13 up GBP0.20/tonne easier at GBP186.50/tonne. May 13 Paris wheat finished EUR1.75/tonne lower at EUR245.00/tonne.


The

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Afternoon News

18/04/13 -- The USDA weekly export sales report came in as follows:


Soybeans: 339.400 MT of old crop and 227,400 MT of new crop versus trade expectations of a combined 400-700 TMT. Old crop sales are now 99.7% of the USDA target for the season.


Corn: 400,300 MT of old crop and 16,900 MT of new crop versus expectations of a combined 250-500 TMT. Old crop sales of around 215,300 MT/week were

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EU Rapemeal Prices

18/04/13 -- Rapemeal prices on the continent are sharply higher once more, extending an extraordinary run that's seen prices rise almost 40 euros on old crop May/Jul 13 since the beginning of the month.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
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Apr13

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Morning Snippets

18/04/13 -- The overnight market sees beans 6-7 cents higher on old crop and 2-3 cents firmer on new crop. Globex wheat is up 5-6 cents and corn flat to up 1 1/2 cents. London and Paris wheat are mixed, corn is lower and rapeseed is adding to yesterday's sharp gains, up around 3 euros.


Reuters are reporting that the Brazilian dock workers strike lined up for today now isn't going ahead.

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Chicago Closing Comments - Wednesday

17/04/13 -- Soycomplex: The market managed to shrug off some of the continued negativity in outside markets and close higher, posting double digit gains in nearby May 13 beans. Abiove lowered their estimate for Brazil’s 2012/13 soybean crop from 82.3 MMT to 82.1 MMT, placing the harvest at 85% complete. They estimated Brazil’s 2012/13 soybean exports at 38.2 MMT versus a previous estimate of 38.5

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EU Wheat Firmer, German Crop Revised Lower

17/04/13 -- EU grains closed mostly firmer with London wheat supported by the pound slumping to a one month low against the euro on the back news that UK unemployment rose to 2.56 million at the end of February. Also undermining the pound was news that the Bank of England's MPC were split 6-3 again this month on whether or not to raise QE. Once more, BoE Governor King wanted a GBP25 billion

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News Snippets

17/04/13 -- Having opened GBP2.00/tonne higher, May 13 London wheat is now only GBP0.25/tonne higher. New crop Nov 13 is also off the intra day high of GBP187/tonne to currently trade GBP0.20/tonne lower at GBP185.75/tonne. Paris and Globex wheat have also given up early gains to trade GBP1.25/tonne and 3 1/2 cents lower.


The pound has fallen to a 1-month low against the euro on rising UK

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Sugar Beet Pulp Pellets

17/04/13 -- Got an odd load or two of Supaflow sugar beet pulp pellets available on resale if anyone wants any. Must be able to take delivery in April. Bought basis deld into the NW but may be able to switch to other locations and/or convert to Maxibeet. POA.


Lookie, lookie. I make special price for you beautiful lady.....


First come, first served and all that stuff. Book now to avoid

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EU Rapemeal Prices

17/04/13 -- Rapemeal prices on the continent are sharply higher again today, extending a remarkable run, with May 13 now up EUR27/tonne since the beginning of the month and new crop Nov13/Apr14 EUR16/tonne in the same period.


Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change from previous session:
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Apr13
Unq
n/a

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Chicago Recovers Most Of Monday's Losses

16/04/13 -- Soycomplex: A sense of calm in outside markets allowed the market to recover yesterday's losses. Oil World estimated Feb-April Chinese bean imports at 10.3 MMT down 25% from a year ago. They also pegged the South American soybean crop at 143.6 MMT versus the USDA's 148.75 MMT. They estimated the Brazilian crop at 81.3 MMT, unchanged from their previous estimate and versus the USDA

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EU Wheat Firmer, UK Production Prospects Look Grim

16/04/13 -- EU grains closed mostly firmer, with a weaker pound/stronger euro saw London wheat fare better than Paris wheat on the day.

London wheat closed with front month May 13 up GBP3.15/tonne to GBP197.95/tonne and new crop Nov 13 up GBP1.85/tonne at GBP185.95/tonne. May 13 Paris wheat closed EUR0.25/tonne firmer at EUR246.25/tonne.


At home, Carr's CEO told Agrimoney that he expects the

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EU Rapemeal Prices

16/04/13 -- Rapemeal prices on the continent are a little firmer again on old crop, and slightly weaker on new crop. The unexpected prolonging of the winter feeding season, and reduced crusher output due to depressed margins, is keeping nearby availability tight.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.

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Chicago Dragged Lower By External Markets

15/04/13 -- Soycomplex: Outside market weakness dragged the entire grains complex lower, with gold posting its largest 2-day loss on record and crude oil also falling heavily. Weekly soybean export inspections were poor at 4.813 million bushels versus the expected 12-17 million. In China, bird flu now has 63 human cases reported with 14 human deaths. A Bloomberg survey estimated 2013 Chinese

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EU Grains Dive Pressured By Outside Influences

15/04/13 -– The EU grains traders market closed lower, as fund money continues to pull out of the sector, and commodities in general. Both crude oil and gold were also down heavily, with the latter slumping to a 2-year low marking the worst 2 day drop for gold in 30 years. The last time gold fell over 10% in 2 days was Feb 1983. Worse than expected Chinese GDP data is one of the reasons being

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Fund Money Still Departing Grains

15/04/13 -- Friday's Commitment of Traders Report from the CFTC shows fund money continuing to desert the grains sector for the week through to last Tuesday night.


Their corn long, which more than halved from around 192,500 lots to little more than 98,000 lots last week, nigh on halved again to a net long of just under 51,000.


They decreased their soybean long by 14,615 contracts, and added a

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EU Rapemeal Prices

15/04/13 -- Rapemeal prices on the continent continue to firm, with gains of between EUR2-5/tonne today. Crop development in the UK remains well behind normal. Take a look at this picture posted on Twitter with one farmer's field of rapeseed this morning on the right and the same field this time last year on the left. Link.


Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change

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Chicago Market Higher, Despite Shaky Outside Influences

12/04/13 -- Soycomplex: The bean and meal market closed higher supported by continued strong demand for US beans, with the USDA today confirming the sale of 110,000 MT to China for 2013/14. Old crop sales meanwhile are already 99% of the USDA target for the season, with Brazilian dockers set to strike next week. Over 60 vessels are waiting at the Brazilian port of Paranagua and the waiting times

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EU Wheat Mixed, Crop Development Lags Markedly

12/04/13 -- EU wheat closed mixed with May 13 London wheat down GBP1.35/tonne at GBP197.75/tonne and with new crop Nov 13 up GBP0.40/tonne to GBP187.15/tonne. May 13 Paris wheat settled EUR4.00/tonne higher at EUR249.50/tonne.


For the week this puts May 13 London wheat down GBP0.85/tonne, with Nov 13 up GBP2.90/tonne and May 13 Paris wheat EUR5.75/tonne firmer.

Exactly why the two front

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EU Rapemeal Prices

12/04/13 -- Rapemeal prices on the continent are firmer again today, with Apr 13 now showing gains EUR11/tonne on the week, May 13 is up EUR15/tonne and new crop Aug/Oct 13up EUR12/tonne compared with last Friday.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none }

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Chicago Close - Thursday

11/04/13 -- Soycomplex: Weekly soybean sales of a combined 383,700 MT fell short of trade expectations of 5-800 TMT, although most of these (319,200 MT) were for already tight old crop. Total US commitments are now 99% of the USDA's upwardly revised target of 36.74 MMT worth of exports this season, and the vast majority of that has already been shipped. There's talk that 1-2 US bean cargoes were

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EU Wheat Mostly Higher On Increased Demand Ideas

11/04/13 -- EU grains bounced mostly a little higher, supported by firmer US corn and wheat futures which were up on ideas that the recent downwards spike in prices is stimulating some increased demand.


On the day, London wheat closed with front month May 13 up GBP0.55/tonne to GBP199.10/tonne and new crop Nov 13 up GBP0.75/tonne at GBP186.75/tonne, even though the pound rose to its best

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USDA Weekly Export Sales

11/04/13
-- The USDA's weekly export sales report showed soybeans sales below expectations, wheat sales at the low end of trade ideas and corn sales at the upper end of market forecasts.


Soybean sales of a combined 383,700 MT fell short of trade expectations of 5-800 TMT, although most of these (319,200 MT) were for already tight old crop. Total US commitments are now 99% of the USDA's

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EU Rapemeal Prices

11/04/13 -- Rapemeal prices on the continent show little change today. MDA CropCast held their forecast for EU rapeseed production in 2013/14 unchanged from last week at 18.56 MMT, up almost 3% on last year. Crops in the UK and France should finally see some warmer temperatures this weekend. "This will help to finally accelerate rapeseed growth across the continent. Also, showers are beginning to

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The Morning Vibe

11/04/13 -- The overnight market sees beans 5-10 cents lower, with wheat up 2-3 cents and corn 4 cents higher to 2 cents lower as traders pour over the USDA numbers. This may be the last time that we are so preoccupied with 2012/13, the emphasis will now start to shift to the 2013 harvest and beyond.


As ever the USDA came up with some plausible stuff, and some not so plausible stuff.


They

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Chicago Closing Comments - Post USDA

10/04/13 -- Soycomplex: For soybeans the USDA's WASDE report contained both a few bearish and bullish elements. US 2012/13 ending stocks were left unchanged at 125 million bushels, contrary to the average trade guess for an increase to 137 million. However, both Brazilian and Argentine soybean production were also left unchanged from last month, with the trade expecting cuts to both. World ending

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EU Wheat Slides Late On

10/04/13 -– EU grains traders spent the day sitting on their hands waiting for the USDA April World Supply and Demand report to come out. Unfortunately these reports are now only released at 5pm London time, just as European markets are closing. At least we don't have to wait a whole Easter weekend to start trading this one though.


A late whiff of bearishness from the USDA saw London wheat

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USDA WASDE Numbers

10/04/13
-- The USDA's eagerly awaited raft of important numbers are out, here's some of
them:



USDA 2012/13 US Ending Stocks Estimates (million bushels):
.nobrtable br { display: none }








Product


USDA


 


Avg Est



Range


USDA Mar



Wheat


731


 


731

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EU Rapemeal Prices

10/04/13 -- Rapemeal prices on the continent are firmer again on strong demand and tight availability on old crop. New crop gains on EU rapeseed production concerns. Spot material now not offered. May/Jul up EUR14.00/tonne since Friday.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
.nobrtable br { display: none

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The Morning Vibe

10/04/13 -- The overnight grains are generally a tad easier in quiet trade this morning, any pre-report positioning should be done by now.


Everybody is waiting on the USDA report. What spanners will they throw at us this time? There has to be a possibility that they will raise Brazilian corn production significantly more than the 0.4 MMT that the trade is expecting. The average guess of 72.9

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Chicago Closing Comments

09/04/13 -- Soycomplex: The soybean market reversed the direction of the past 10 days or so by closing with decent gains heading into tomorrow's USDA report in what looks like profit-taking and short-covering. Beans closed near the top end of the session range as funds bought an estimated 7,000 contracts on the day. CNGOIC estimated China Q1 2013 soybean imports at 11.48 MMT versus 13.27 MMT year

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EU Wheat Narrowly Mixed Ahead Of USDA Report

09/04/13 -- EU wheat was in consolidation mode ahead of tomorrow's USDA supply and demand numbers, closing narrowly mixed. Even though wheat is not expected to play a starring role tomorrow, everyone knows by now that the USDA's capacity to surprise should not be underestimated.


London wheat closed with May 13 unchanged at GBP201.05/tonne and with new crop Nov 13 GBP0.25/tonne easier at

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Informa Bullish On Rapeseed Production In 2013

09/04/13 -- Informa seem pretty bullish on world rapeseed production this year, estimating a global crop of 65.4 MMT, up 7% on last year's output.

The rise will be led by a leap of almost 19% in Canadian production to 15.8 MMT, followed by an increase of over 10% in Europe to 20.7 MMT, they say.

The latter seems a bit optimistic to me, given the current state of the crops in France and the UK

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EU Rapemeal Prices

09/04/13 -- Rapemeal prices on the continent are firmer again today, garnering support from adverse weather conditions in Europe extending the feeding season and also potentially harming 2013 yields.


Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change from previous session:
.nobrtable br { display: none }





Apr13
288.00
+2.00

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Chicago Rallies On Short-Covering Ahead Of USDA Report

08/04/13 -- Soycomplex: Today's price action can maybe be attributed to short-covering ahead of Wednesday's USDA report, following recent steep declines. Concerns over bird flu in China also seem to be easing a little. China took around two thirds of the 15.251 million bushels of soybeans inspected for export for the week through to Apr 4, according to USDA data today. That does appear to

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EU Wheat Rises On Continued Crop Concerns, Chinese Buying

08/04/13 -- EU grains bounced higher on apparent confirmation of the recently rumoured sales of US wheat to China. Various news wires this morning said that China had bought "14-16 cargoes" of US SRW wheat - said to be close to 1 MMT - for delivery June-December last Thursday. The business was widely rumoured last week, although there has been no official confirmation of yet.


On the day,

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EU Rapemeal Prices

08/04/13 -- Rapemeal prices on the continent are firmer, supported by reduced production due to low crush margins on old crop, and for new crop on adverse weather conditions leading to production concerns for the 2013 harvest. Higher soymeal prices overnight also add support.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous

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Bye, Bye, Fund Money

08/04/13 -- Friday's Commitment of Traders Report from the CFTC made interesting reading, highlighting the extent that fund money has pulled out of the grains in the week through to last Tuesday night.


Their corn long was more than halved from around 192,500 lots to little more than 98,000 lots, for a net withdrawal of some USD3.7 billion. They also cut their soybean long by 35,000 contracts,

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Here We Go Again

08/04/13 -- There's some new trading hours to get used to again from our old time tinkering chums the CME. As from today, and for how long it is anybody's guess judging on recent performances, there are some new trading times for the overnight electronic market. The tossers.


Here they are in BST: Overnight electronic session opens 1am and trades through to 13.45pm. Then it has a little power

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The Morning Vibe

08/04/13 -- The overnight market sees beans 10-12 cents higher, with wheat and corn up 4-5 cents (on the nears at least).


Not that I want to belittle death, generally it's quite a bad thing which can be fatal, but are six deaths from bird flu amongst a population of 1.4 billion really THAT serious? I mean more people probably died in China over the weekend from having a filing cabinet fall on

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Chicago Closing Comments - Friday

05/04/13 -- Soycomplex: Now that the post-USDA panic has died down the market is looking for something else to worry about. News that the death toll from bird flu in China has now risen to six people is providing it, for the soybean market at least, with funds selling an estimated net 5,000 bean contracts on the day. Rising tensions in North Korea is another external factor encouraging a bit more

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EU Wheat A Tad Lower, Although Export Pace Supports

05/04/13 -– EU grains closed mostly a little lower, although mounting concerns over new crop prospects and the relentless pace of wheat exports underpinned the market.


London wheat closed with front month May 13 down GBP0.90/tonne at GBP198.60/tonne and new crop Nov 13 GBP0.75/tonne easier at GBP184.25/tonne. May 13 Paris wheat was EUR0.50/tonne lower at EUR243.75/tonne.


For the week May 13

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Chicago Slump Continues As Fund Money Exits

04/04/13 -- Soycomplex: Weekly export sales of 392,700 MT of old crop and 355,100 MT of new crop soybeans beat expectations for a combined 300-625 TMT. China bought 138,400 MT of the old crop and almost all (354,000 MT) of the new crop. That takes net 2012/13 soybean export commitments to 99% of USDA projections. Weekly shipments of 473,569 MT take the total volume exported so far this season to

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EU Wheat Ends Higher On Production Concerns

04/04/13 -- EU wheat managed a bit more consolidation, with front month May 13 London wheat clawing it's way back above GBP200/tonne at one stage, although finishing just below that level at the close.


London wheat closed with May 13 up GBP0.20/tonne to GBP199.50/tonne and with new crop Nov 13 GBP0.65/tonne firmer to GBP185.00/tonne. May 13 Paris wheat settled EUR3.75/tonne higher at EUR244.25/

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Chicago Closing Comments - Wednesday

03/04/13 -- Soycomplex: Soybeans fell as reports of a third death from bird flu in China circulated, sparking fears of reduced demand from the world's largest buyer. Private estimates already suggest that Chinese soybean imports may fall short of the USDA's estimated 63 MMT by some 3-4 MMT. For the week March 23–29 total crush capacity utilisation in China was only 48 percent. Informa increased

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EU Wheat Recovers, But Remains Still Well Below Pre-USDA Levels

03/04/13 -- The volatility continues. Today it was the turn of EU wheat futures post decent gains, even if they did finish well off the intra-day highs.


On the day, London wheat closed with front month May 13 up GBP1.40/tonne to GBP199.30/tonne and new crop Nov 13 up GBP2.95/tonne at GBP184.35/tonne. May 13 Paris wheat was EUR3.75/tonne firmer at EUR240.5W/tonne.

Even so we still haven't yet

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EU Rapemeal Prices

03/04/13 -- Rapemeal prices on the continent continue to give up some of their recent very strong gains in light of the sharp decline in soymeal values in Chicago over the last few sessions. Some of the protection that had been built into prices due to thin trade and market closures over Easter also seems to now be being taken back out.


Latest guide prices for EU rapemeal today, basis FOB

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Chicago Attempts Mini Recovery With Mixed Results

02/04/13 -- Soycomplex: The soybean and meal market managed a bit of consolidation after two days of sharp losses, although at the end of the day gains were relatively minimal and for beans confined to old crop. Oil World were quoted as saying "Brazil exports have started to pick up and it can be expected that the worst of the Brazilian export delay is over." They also said that Argentina’s

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EU Wheat Lower, But Faring Much Better Than CBOT Market

02/04/13 -– EU grains closed a volatile session lower, although old crop months were well off the lows of the day set in early trade. The market is clearly struggling to come to terms with the US market collapse that took place largely whilst European markets were shut on the evenings of Thursday and Monday, combined with attempts at a mini recovery today.


London wheat closed with front month

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EU Rapemeal Prices - Post USDA

02/04/13 -- Rapemeal prices on the continent are lower folowing the sharp sell-off witnessed in Chicago soymeal on Thursday and Monday as Europe returns to work following the Easter break. Losses are greatest in new crop months, with tightness in availability due to poor crush margins and strong off-take widening the differential between old and new crop.


Guide prices, basis FOB Lower Rhine in

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Chicago Corn Car Crash Continues

01/04/13 -- Soycomplex: Soybeans did their best to divorce themselves from crashing corn but still posted double digit losses on the day as the fallout from Thursday's USDA report continues. May 13 beans are now down 63 cents, or 4.3%, since Wednesday's night's close, finishing below USD14/bu for the first time since mid-January. Brazil's Trade Ministry said Brazil exported 3.54 MMT of beans in

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