EU Wheat Mixed In Quiet Trade

31/05/13 -- EU grains closed mixed in a quiet end to quiet week. Jul 13 London wheat finished the day GBP1.00tonne lower at GBP182.50/tonne, Nov 13 ended GBP1.00/tonne lower at GBP178.50/tonne. Nov 13 Paris wheat settled EUR1.50/tonne higher at EUR206.00/tonne.


For the week that puts front month London wheat GBP2.50/tonne higher with it's Paris counterpart up EUR1.25/tonne. For the calendar

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EU Rapemeal Prices

31/05/13 -- Rapemeal prices on the continent a bit firmer today, although buyers are few and far between. MDA CropCast yesterday estimated the EU rapeseed crop in 2013 at 18.98 MMT versus 18.04 MMT in 2012.


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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May13

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Chicago Mixed But Mostly Lower Thursday

30/05/13 -- Soycomplex: Beans were mixed, with new crop gaining on old crop. There's some talk that the late maturity of the US wheat crop will push back harvesting, thereby reducing some planned double cropping with follow-on soybeans acres. Widespread wet weather in the Midwest continues to disrupt planting of both corn and soybeans. MDA CropCast raised slightly their 2013 US soybean production

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EU Wheat Mixed, UK Crops Downgraded But Elsewhere Things Looking Better

30/05/13 - EU grains were mixed, but mostly a little firmer. News that GMO wheat had been found growing in an Oregon field 8 years after trials ceased unsettled the US market, particularly as Japan immediately announced that it was suspending the purchase of US winter white wheat (and feed wheat) on the back of it.


That could be viewed as supportive for other origin wheats. Around 80% of EU

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GMO Wheat Found Growing In US

30/05/13 -- Breaking news says that the USDA have found a strain of GMO wheat growing in a field in Oregon which is resistant to glyphosate herbicide.


"The rogue wheat was a strain tested from 1998 to 2005 by Monsanto, the world’s largest seedmaker, which withdrew its application for approval amid concern buyers would avoid crops from the US, the world’s biggest wheat exporter," report

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EU Rapemeal Prices

30/05/13 -- Rapemeal prices on the continent are mostly a bit weaker on old crop and a little firmer on new crop positions today. Concerns over new crop rapeseed production in the UK and France remain. Toepfer estimate the 2013 UK rapeseed crop at 1.88 MMT, down 27% on last year.


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

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Chicago Mixed, Still Some Confusion Over Final US Plantings

29/05/13 -- Soycomplex: The USDA announced the cancellation of 147 TMT of old crop soybeans sold to China. The trade is thinking that there may be more cancellations to come. Michael Cordonnier said that 1-2 million acres of planned US corn could go unplanted this year, and that around two thirds of that area could get switched into soybeans (with the rest being claimed on insurance as "prevent

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EU Grains Mixed, But Mostly A Little Higher

29/05/13 -- EU grains closed mixed but mostly a little higher on the day after earlier trading generally lower. US winter wheat crop conditions deteriorated again based on last night's USDA report, with 42% of the crop now rated as poor/very poor. Delayed US spring wheat plantings are also supportive.


Jul 13 London wheat finished the day GBP1.00/tonne higher at GBP181.50/tonne, and with Nov 13

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Morning Snippets

29/05/13 -- The overnight Globex grains are mostly a little lower, with wheat down 3-4 cents of so, and beans and corn down 1-3 cents.


London wheat sees Nov 13 down GBP0.25/tonne in early trade with Paris wheat around a euro easier.


Wheat looks to be continuing to grind lower. US wheat will soon be under harvest pressure even if last night's USDA report showed 60% of the US winter wheat crop

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Chicago Closing Comments - Tuesday

28/05/13 -- Soycomplex: The soybean market began the week sharply higher on delayed planting concerns and strong demand. The USDA reported the sale of 120 TMT of new crop beans to China. Industry analysts pegged the Chinese Jan 1st-May 24th total soybean crush volume at 22,087,920 MT, up 1% from a year ago. Chinese May soybean imports are estimated at 5.30 MMT, rising to a record 7.8-8.0 MMT in

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EU Wheat Mixed, Fresh News Scarce

28/05/13 -- EU grains closed mostly firmer on concerns that US planting delays had been extended over a wetter than anticipated holiday weekend.


Jul 13 London wheat finished the day GBP0.50tonne higher at GBP180.50/tonne, Nov 13 ended GBP0.70/tonne lower at GBP177.30/tonne. Nov 13 Paris wheat settled EUR1.00/tonne higher at EUR205.00/tonne.


Fresh news was relatively thin on the ground after

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The Morning Vibe

28/05/13 -- The overnight market sees beans 8-12 cents higher, with corn up 6-8 cents and wheat fractions either side. Ideas are that weekend rains in parts of the Midwest will have further hampered corn & soybean planting progress. Rain on the Plains though may help winter wheat.

The USDA will give us the latest numbers tonight. Last week we had corn planting at 71% complete and soybeans at 28%

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Paris Wheat Lower In Quiet Holiday Trade

27/05/13 - With both the UK and US markets closed for public holidays this was never going to be a thriller, and so it proved. At the end of a thin trading session Paris wheat closed with front month Nov 13 EUR0.75/tonne lower at EUR204.00/tonne. Corn and rapeseed futures were also mostly modestly lower.


Fresh news was understandably thin on the ground. The Ukraine Ministry said that the

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Chicago Mixed Ahead Of Long Weekend

24/05/13 -- Soycomplex: The volatility with front month July beans continues. Ahead of a 3-day weekend there was probably some profit-taking and unwinding of spreads going on which saw the Jul/Nov spread narrow by 28 cents. Nearby bean availability is incredibly tight, but with funds looking to exit July longs and/or roll them into Nov then we could see plenty more crazy closes like this between

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EU Wheat Mostly Lower, Settles At 11-Month Lows On Weekly Charts

24/05/13 -- EU grains closed mixed but mostly lower on the day. Despite a bit of a midweek rally, today was still the lowest close on the weekly chart for a front month for both London and Paris wheat since last June.


Jul 13 London wheat finished the day GBP1.25/tonne higher at GBP180.00/tonne. Everything else was lower with benchmark Nov 13 ending GBP1.25/tonne easier at GBP178.00/tonne. Nov

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EU Rapemeal Prices

24/05/13 -- Rapemeal prices on the continent mixed, generally a bit weaker on old crop and a little firmer on new crop. Reports filtering through suggest that maybe French rapeseed crops are in worse shape than thought. Prospects in Germany and Ukraine however look good.


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

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Morning Snippets

24/05/13 -- The overnight Globex grains are mixed, with wheat and soybeans mostly a couple of cents or so firmer and corn down a similar amount.


It's a long weekend in the States, with the markets closed Monday for the Memorial Day holiday.


Brussels issued 247 TMT of soft wheat export licenses this week, bringing the 2012/13 marketing year to date total to 17.6 MMT, up 47% versus 12.0 MMT

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Chicago Rises, Although Beans Finish Well Off Session Highs

23/05/13 -- Soycomplex: The soybean market raced higher early doors, only to sell-off late and close with only modest gains. An interesting situation seems to have developed in nearby July. If you're short, and haven't got the physical beans to deliver, then you need to cover in those shorts at whatever price the market dictates. If, on the other hand, you're a fund long then taking delivery of

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EU Wheat Rises For Second Day

23/05/13 -- EU grains extended their mini recovery into a second day, shrugging off the downdraught of falling equities after Fed chairman Ben Bernanke hinted at a scaling back of QE. If the market gets the jitters at the merest hint of it what will it do when it becomes a reality? They can't keep on buying USD85 billion worth of assets every month ad infinitum can they?


US wheat futures rose

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USDA Weekly Export Sales

23/05/13
-- The USDA reported a pretty robust set of weekly export sales today, here's the highlights:


SOYBEANS


Sales of 183,500 MT of old crop and 838,900 MT of new crop topped expectations for combined sales of 400-800 TMT. Actual weekly shipments were however a marketing year low of 100,800 MT. The US has now shipped 34.6 MMT of soybeans this season, with outstanding sales of a further 2

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EU Rapemeal Prices

23/05/13 -- Rapemeal prices on the continent are mostly a tad easier today as crop conditions improve in France and Germany. Even so one French analyst pegged the 2013 rapeseed crop there at only 4.5-4.8 MMT versus 5.5 MMT last year and the 5.2 MMT recently estimated by the USDA


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

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Chicago Rallies Desite Outlook For Bumper World Production In 2013/14

22/05/13 -- Soycomplex: Beans posted decent gains, supported by a firmer corn market. Although Argentine dockers in the port of Rosario have returned to work a backlog of 40-50 vessels has apparently already built up. The threat of further strikes in both Argentina and Brazil in the weeks and months ahead will keep the pressure on very tight old crop US supplies. Oil World are projecting that the

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EU Wheat Consolidates, Old Crop London Wheat Now Cheaper Than New Crop

22/05/13 - EU grains closed mostly higher, with May 13 London wheat posting it's first gain in seven sessions aided by a weak sterling as the market consolidated from hitting fresh 11-month lows yesterday. There are few that would suggest with any degree of confidence that this is the start of a new trend however.


London wheat closed with front month May 13, which expires tomorrow, up GBP0.50/

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EU Rapemeal Prices

22/05/13 -- Rapemeal prices on the continent are around a euro lower today in thin trade. Prices still look overvalued relative to soyameal going forward, keeping end-user buying interest to a minimum.


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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May13

295.00

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Chicago Mixed, Nearby Beans Very Tight

21/05/13 -- Soycomplex: It was the same old theme once again, old crop higher, new crop lower. Front month July rallied to an 8-month high as old crop remains extremely tight. Some US processors are apparently prepared to pay up to USD16/bu for cash beans. Paraguay’s exporters chamber, CAPECO, estimated their 2012/13 soybean crop at a record 9.0MMT versus the USDA estimate of 8.35 MMT. Customs

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Front Month London Wheat Slumps To New 11-Month Low

21/05/13 -- EU grains closed mixed, after having traded down to fresh lows for the recent move in early trade. Sterling weakness helped London wheat a little following news that domestic CPI inflation had fallen from 2.8% in March to 2.4% in April. That was taken as potentially widening the scope for further QE from the Bank of England. The minutes of the May MPC meeting are due out tomorrow.

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EU Rapemeal Prices

21/05/13 -- Rapemeal prices on the continent are mostly a little steadier today, following gains in Chicago soymeal values last night. Trade is quiet however, with consumers content to sit on their hands for the time being. Rapemeal quotes look expensive when taken as a percentage of value of soymeal, and particularly so given the potentially bearish outlook for new crop soymeal prices.


Latest

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Morning Snippets

21/05/13 -- The overnight market sees beans unchanged on front month July, but everything else is red, with new crop Nov 13 down 6 1/2 cents. It's old crop corn that is taking the biggest pasting, down 14 1/2 cents nearby, with wheat also showing around 10-11 cents lower.


New crop Dec 13 corn is down 8 1/4 cents, another decline of a similar magnitude would see it trade with a 4 in front of it.

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Chicago Market Mixed Prior To USDA Plantings Report

20/05/13 -- Soycomplex: The same old theme of very tight old crop stocks supported the nears, whilst suggestions of potentially record US soybean production in 2013 weighed on the deferred positions. Vietnam bought 120 TMT of US soymeal for Sept/Nov shipment.  Weekly export inspections of 3.328 million bushels, were subdued compared to 13.079 million a year ago, although in line with last week's

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EU Wheat Hits Fresh 11-Month Lows

20/05/13 -- EU grains slid to fresh 11-month lows in thin trade due to public holidays in several European countries including France, Germany and the Netherlands. Even so, the Paris market was open for business, but volume was light.


London wheat closed the day with front month May 13 down GBP3.00/tonne to GBP178.50/tonne, and with new crop Nov 13 ending GBP2.85/tonne easier at GBP176.00/tonne

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EU Rapemeal Prices? Nein!

20/05/13 -- There are no rapemeal prices quoted the continent today due to the Whit Monday holiday, even though the French and German stock markets and MATIF grains are open for business.


To keep you entertained instead, here's the latest world rapeseed production forecasts from our little Germanic chums Oil World (they bombed our chippy, but we're all friends now etc):


World production is

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Chicago: Soy Up, Corn Mixed, Wheat Down

17/05/13 -- Soycomplex: Strong demand continues with the USDA today reporting the sale of 120,000 MT of new crop soybeans for delivery to China, along with 18,000 MT of old crop and 120,000 MT of new crop soybeans to "unknown" destinations. Old crop US bean availability remains very tight. May 13 beans went off the board at a premium of more than a dollar to July 13 this week. That doesn't seem

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Lose Ten Pounds In Three Days With The London Wheat Diet!

17/05/13 - Friday was another bad day at the office for London wheat, particularly old crop, which has now slumped almost ten pounds in the past three sessions. There's been a bit of debate around for some time as to whether old crop prices would come down to meet new crop, or if the latter would rise to meet the former. Now it looks like we have the answer.


London wheat closed with front month

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Chicago Close - Thursday

16/05/13 -- Soycomplex: The USDA's weekly export sales report gave us net sales of 15,300 MT of old crop soybeans along with 346,600 MT of new crop. In line with expectations for sales of a combined 2-600 TMT. Net old crop commitments are 99.3% of the USDA target for the season, and 94% of that is already shipped with 3 1/2 months still left to go. Soymeal export sales were stronger than

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EU Wheat Extends Declines As Crop Prospects Improve

16/05/13 -- EU grains closed lower as production prospects around the world improve. MDA CropCast today increased their global wheat production estimate by 6 MMT from last week, upping their coarse grain forecast by 12.7 MMT from a week ago and raising their world oilseed output forecast by 6.6 MMT versus last Thursday.


May 13 London wheat finished GBP4.00/tonne lower at GBP185.25/tonne and new

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USDA Weekly Export Sales

16/05/13
-- The USDA's weekly export sales report gave us net sales of 15,300 MT of old crop soybeans along with 346,600 MT of new crop. In line with expectations for sales of a combined 2-600 TMT. Soybean shipments slowed to 167,600 MT. Even so, total commitments are 99.3% of the USDA target for the season, and 94% of that us already shipped.


Corn sales came in at 219,900 MT of old crop and a

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The Bloody British Weather

16/05/13 -- Little more than a week ago I was sat here in the office sweating my bollocks off and looking up mobile aircon units on the internet, and now it's snowing in Devon! The papers are loving it of course, being full of the usual shite that they trot out when they've got nothing better to do.


"Forecasters predict a repeat of last year's wash-out summer," from the Daily Mail. "Another

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EU Rapemeal Prices

16/05/13 -- Rapemeal prices on the continent are mixed, with the main feature of note being changes in the Jul 13 position as it adjusts to being somewhere between old and new crop. DRV said yesterday that the German rapeseed crop would come in at 5.36 MMT this year, an increase of 11.6% on last year.


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

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Chicago Ends Lower On US Weather Improvements

15/05/13 -- Soycomplex: NOPA pegged the April US crush at 120.113 million bushels versus trade expectations of 125-126 million. That's down sharply from 137.08 million bushels in March and the April 2012 crush of 131.708 million. Talk of significant planting progress since the weekend is also a little bearish for new crop. Dry Midwest weather with only scattered showers for the next 3 days and

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London Wheat Slide Continues Aided By Weaker Euro

15/05/13 -- EU grains were mixed in another relatively "no news" day. Tonight was the first sub-GBP190/tonne close for a front month on London wheat since the early days of last August.

London wheat closed the day with front month May 13 down GBP2.00/tonne to GBP189.25/tonne, and with new crop Nov 13 ending GBP0.35/tonne easier at GBP182.05/tonne. Nov 13 Paris wheat ended EUR0.25/tonne higher at

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EU Rapemeal Prices

15/05/13 -- Rapemeal prices on the continent are a bit easier today. Old crop demand is slackening off, and new crop rapeseed production prospects are improving with widespread rains falling across the UK, northern France and western Germany.


Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change from previous session:
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May13

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Chicago Closing Comments - Tuesday

14/05/13 -- Soycomplex: May 13 went off the board leaving July as the new front month. CNGOIC estimated China’s May soybean imports at 5.59 MMT versus 3.98 MMT in April. They forecast China's 2013 soybean crop at 12.3 MMT, down 3.9% on last year. The Rosario Grains Exchange estimated Argentina's soyean harvest at 70% complete, pegging production there this year at 48.3 MMT versus a previous

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EU Grains Mixed, UK Wheat Exports Rage Ahead

14/05/13 - EU grains were mixed in fairly subdued trade. Last night's planting progress report from the USDA said that only 28% of the US corn crop was in the ground as of Sunday night, the slowest pace on record and well below 65% for the 5-year average. With a largely dry start to this week though the trade is thinking this could rise to around 50% done by the end of the coming weekend.


Even

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Lunchtime News Snippets

14/05/13 -- The overnight Globex grains are mixed, trading a cent or two either side on corn and wheat and 4-6 cents higher on beans.


Chinese think tank CNGOIC say that the country will produce a record 214 MMT of corn this year, up 2.8% on last year despite delayed plantings due to wet and cold weather. That's 2 MMT more than the USDA said on Friday.


They also forecast the Chinese wheat crop

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EU Rapemeal Prices

14/05/13 -- Rapemeal prices on the continent are mixed, but with new crop mostly a little firmer, on concerns over rapeseed production in western Europe this year.


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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May13
302.00
-3.00

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Chicago Jumps As Bad Weather Delays Plantings

13/05/13 -- Soycomplex: The market was sharply higher, particularly nearby, on ideas that plantings through to Sunday night maybe weren't as advanced as the 10% that the trade was forecasting. That proved to be the case after the close with the USDA saying nationally only 6% of the 2013 US soybean crop is in the ground. That is the slowest pace since 1984, and well below the 24% that is average

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EU Wheat Dragged Higher By US Markets

13/05/13 -- EU grains closed higher, dragged up by firmer American markets once Chicago opened in afternoon trade. The market is expecting US corn plantings to be only around 25% complete in tonight's crop progress report from the USDA. Anything below 29% would be the slowest pace on record for the second week in May since the USDA began issuing their weekly planting progress reports in 1984.

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US Weather Highlights

13/05/12 -- Here's a snippet of the latest US weather situation from the excellent Martell Crop Projections:


Midwest Weather Warming, Forecast Still Very Wet



Strong warming this week will increase field temperatures in the corn belt, but scattered strong showers would resume causing locally heavy rainfall. Around 1 inch of rain is predicted in the Midwest corn belt and 0.65 – 1 inch

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EU Rapemeal Prices

13/05/13 -- Rapemeal prices on the continent are little changed today. Old crop availability remains tight on lower production due to downtime and poor crush margins due to depressed demand for rapeseed oil. There are enough uncertainties surrounding new crop rapeseed production potential to put a floor under new crop prices for the time being.


Guide prices, basis FOB Lower Rhine in euros/

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Chicago Falls As USDA Predict Record Crops For 2013/14

10/05/13 -- Soycomplex: The USDA report proved to be fairly predictable, keeping the old crop outlook tight, but projecting the usual jam tomorrow. They stood by their minimum "line in the sand" for US old crop ending stocks of 125 million bushels. New crop ending stocks however came in above expectations at 265 million bushels versus the average trade guess of 239 million. That came courtesy of

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EU Grains Drift Lower Heading Into USDA Report

10/05/13 -- EU grains were mixed, but mostly lower, in quiet and nervous trade heading into another major Friday night USDA report. May 13 Paris wheat, which has seen choppy trade this week, went off the board making new crop Nov 13 the new front month.


London wheat closed the day with front month May 13 up GBP0.25/tonne to GBP191.25/tonne, all other months apart from those of the 2014/15

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USDA See Records All Round

10/05/13
-- The USDA also today had a first peek into crop production around the world for the 2013/14 season. They were predictably bullish on prospects for bumper crops, seeing more records than a HMV fire sale.


For wheat they are predicting a record world crop of 701 MMT, up 7% from output versus 2012.


For corn they are also predicting record world production of 966 MMT, a rise of 12.7%

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The USDA Numbers

10/05/13
-- The USDA's eagerly awaited raft of important numbers are out, here's some of
them:
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USDA 2012/13 Ending Stocks Estimates (million bushels):





Product

USDA


Avg Est


Range


USDA 2012/13



Wheat


731




731


681-747


731

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Golf Competition

10/05/13 -- Just a reminder that there's still time to win* a magnificent luxury golf break at a 5 star holiday let available for the 2013 British Open Golf Championships this summer Jul 14-21. Located in luxury self-catering holiday accommodation that sleeps 8 in North Berwick with the world renowned Muirfield championship course in Gullane right on your doorstep.


You'd have to be CRIMINALLY

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EU Rapemeal Prices

10/05/13 -- Rapemeal prices on the continent are mixed, with old crop lower and new crop firmer today after the markets were closed yesterday for a holiday. There may be a bit of protection being built in to the new crop levels ahead of tonight's USDA report


MDA CropCast yesterday forecast the EU 2013 rapeseed crop up 3% on last year, with Canadian output is seen rising 11.4%.


Latest guide

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Chicago Market Rallies Heading Into USDA Report

09/05/13 -- Soycomplex:
Weekly export sales of 193,800 MT of old crop and 391,700 MT of new crop were in line with trade estimates for combined sales of 4-700 TMT. The US now has 99.3% of the USDA's target for exports of 36.74 MMT this season already on the books, and the vast majority of it (93.5%) has already been shipped. In addition China bought 110 TMT of new crop soybeans. There are now

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EU Wheat Dragged Higher By US Pre-USDA Short-Covering

09/05/13 - EU grains were mixed in quiet trade for most of the day with many traders absent due to a public holiday in some European countries. A slightly wetter look to the latest US 6-10 day forecast sent CBOT grains higher in afternoon trade, dragging European prices up with it.
There was undoubtedly some book squaring and short-covering in CBOT wheat running into tomorrow's USDA WASDE report.

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USDA Weekly Export Sales

09/05/13
-- The USDA's weekly export sales report showed soybean and wheat sales in line with trade expectations and corn sales below market forecasts.


Soybean sales of 193,800 MT of old crop and 391,700 MT of new crop were in line with trade estimates for combined sales of 4-700 TMT. Old crop shipments now stand at 93.5% of the USDA target for the season, add on outstanding sales and we're

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UK Rapeseed

09/05/13 -- There are no EU rapemeal prices from the continent available today as the buggers over there are on another day off.


So, to keep you entertained, I've got this little picture for you instead, gleaned via the modern day marvel that is Twitter. This pic was taken by a Bayer crop scout flying around North Yorkshire in a helicopter this very morning.


Rapeseed near Tadcaster: Makes

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The Morning Rant

09/05/13 -- The overnight market is mixed with corn 3-4 cents easier, wheat generally down 1-2 cents and soybeans around 1-2 cents firmer.


Interesting point, last night's close on Aug 13 Paris rapeseed, down EUR5.25/tonne to EUR424.00/tonne was the lowest close for a front month in almost 18 months. You have to go all the way back to December 2011 to find a lower finish than that.


Meanwhile

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Chicago Closing Comments - Wednesday

08/05/13 -- Soycomplex: Beans closed mixed with the nears firmer, supported by very tight old crop supplies. The USDA announced the sale of 115 TMT of new crop soybeans to China. Chinese customs data has their soybean imports in April down 18.4% versus April 2012 at 3.98 MMT, taking the 2013 calendar year to date imports to 15.47 MMT, which is down 14.8% on a year ago. Bird flu in China has now

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EU Wheat Declines Following US Lead

08/05/13 -- EU grains closed mixed but mostly lower, failing to hold onto early gains as US markets nudged into the red in afternoon trade. The market is nervous ahead of Friday's upcoming USDA report which will include their first glimpse into production prospects for 2013/14.


May 13 London wheat finished GBP0.75/tonne lower at GBP190.50/tonne and with new crop Nov 13 GBP1.10/tonne easier to

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EU Rapemeal Prices

08/05/13 -- Rapemeal prices on the continent are a bit firmer today, after posting a sharp correction yesterday, reflecting last night's rise in soymeal values in Chicago.


Oil World yesterday downgraded their view on EU-28 rapeseed production from 20.2 MMT last week to 19.8 MMT, a drop of 3% on last year.


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

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The Morning Buzz

08/05/13 -- Twitter is alight with the breaking news that Sir Alex Ferguson is to retire at the end of the season, and my own beloved (which is what David means incidentally) David Moyes "odds on" to succeed him, according to a report on the Beeb this morning. In actual fact when the news broke it was looking like a very close two horse race between Moysey and The Chosen One, Jose Mourinho,

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Chicago Mixed, Friday's USDA Report Eyed

07/05/13 -- Soycomplex: It was a typical "Turnaround Tuesday" session. Nearby US soybean availability remains extremely tight, with most growers already sold out until new crop, a new crop that's going to be late. Yesterday's export inspections of 6.4 million bushels, whilst deemed "disappointing" and down from 8.9 million the week previously were still above the 5.3 million needed to reach the

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London Wheat Down, Playing Catch Up With Yesterday

07/05/13 -- EU grains were mixed, with the London market playing catch up after a day's closure, Paris wheat decided that it had done all it's falling yesterday.

London wheat closed with front month May 13 down GBP0.50/tonne to GBP191.25/tonne and with new crop Nov 13 GBP1.80/tonne easier at GBP182.75/tonne. May 13 Paris wheat was unchanged at  EUR245.75/tonne.


The jungle drums are saying that

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EU Rapemeal Prices

07/05/13 -- Rapemeal prices on the continent are sharply lower for once, on improving rapeseed production prospects on a global level and following declines in soymeal values in Chicago last night.

Guide prices, basis FOB Lower Rhine in euros/metric tonne, with change from previous session:
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May13
304.00
-8.00


Jun13

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Chicago Sharply Lower To Start The Week

06/05/13 -- Soycomplex: Weekly soybean export inspections were an uninspiring 6.422 million bushels versus 8.956 million last week and 13.141 million a year ago. News leaked out on Friday that Cargill are to close a crushing plant in Indiana until after the 2013 harvest due to poor margins and a shortage of beans was seen as bearish. China’s total April soybean crush was 4.68 MMT versus 4.97 MMT

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EU Wheat Falls As US Weather Shows Signs Of Improvement

06/05/13 - It was London's turn to take a day off today, with the French having celebrated May Day last week.


Paris wheat closed with front month May 13 down EUR3.00/tonne at EUR245.75/tonne and new crop Nov 13 EUR3.75/tonne easier to EUR209.25/tonne.


The French market followed US grains lower, after weekend rainfall in the US was a little lighter than anticipated. A warmer and drier outlook

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Chicago Closes Mixed, Beans Higher On Tight Availability

03/05/13 -- Soycomplex: Beans closed higher in a very tight physical market. With US exports very well advanced there appear to be few sellers, even with cash bids in excess of USD15/bu. There are rumours that Cargill are to close a crushing plant in Indiana for the summer due to a shortage of physical beans. There's still talk of 1-3 million acres of corn getting switched into beans due to

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EU Grains Mixed, May/Nov Spread Narrows

03/05/13 -- EU grains closed mixed with May 13 London wheat finishing GBP0.25/tonne lower at GBP191.75/tonne and with new crop Nov 13 GBP0.55/tonne firmer to GBP184.55/tonne. May 13 Paris wheat settled EUR4.25/tonne lower at EUR248.75/tonne, although new crop months were EUR0.25-0.50/tonne firmer.


For the week, May 13 London wheat closed GBP0.75/tonne higher, whilst Nov 13 was GBP2.30/tonne

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Chicago Close - Corn Leads As Weather Stalls Planting

02/05/13 -- Soycomplex: Weekly soybean export sales showed net cancellations of 109,800 MT, which isn't too much of a problem when you already have 99% of the USDA target on the books. New crop sales were robust at 1.34 MMT - a 2013/14 marketing year high. Trade estimates had been for net sales of 6-900 TMT. Soymeal sales of just under 150 TMT take old crop commitments to 102% of USDA projections

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EU Wheat Mixed, US Weather Watched

02/05/13 -- EU grains were mixed, with the French market playing catch up after a day's closure yesterday. Fresh news was thin on the ground. The ECB cut interest rates in the Eurozone by a quarter to 0.5% which didn't have a great deal of impact to the euro as the move was widely expected.


London wheat closed with front month May 13 down GBP0.50/tonne at GBP192.00/tonne and with new crop Nov

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EU Rapemeal Prices

02/05/13 -- Rapemeal prices on the continent are a bit easier today, reflecting last night's sharp decline in soymeal values in Chicago.


Some improvement in new crop rapeseed production prospects in the EU may also be a factor, although rapemeal asking prices still look historically expensive relative to soymeal.


Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric

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Chicago Slips On Fund Selling

01/05/13 -- Soycomplex: Beans took a bit of a battering on what was generally a bad day for commodities on the back of worse than expected manufacturing data from China which saw crude, gold, silver, the stock market and dollar all lower to start the day. With the notion that 1-3 million acres of corn might not get planted this spring, Michael Cordonnier says up to 5 million in a worst case

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London Wheat Dips, Paris Wheat Closed

01/05/13 - With the French market closed for the May 1st holiday, this was a limited news sort of a day. London wheat therefore followed the lead of US grains, and subsequently closed lower.


London wheat closed with front month May 13 down GBP1.00/tonne at GBP192.50/tonne and new crop Nov 13 GBP0.95/tonne easier to GBP184.00/tonne.


From an economic perspective the pound hit a fresh 2 1/2

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EU Rapemeal Prices

01/05/13 -- Rapemeal prices on the continent are mixed today. Oil World forecast the global rapeseed crop rising 2.6% to a record 64.1 MMT in 2013.

"Successful winter crop plantings and only limited winterkill losses provide a lot of optimism regarding next season’s rapeseed production in Europe," they say.

Despite that, and lower soymeal values overnight, new crop rapemeal prices are marked

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World Rapeseed Production At Record Levels In 2013

01/05/13 -- Oil World released their latest projections for the 2013 EU rapeseed crop yesterday, estimating the crop at a 3-year high of 20.2 MMT, up 5% or almost 1 MMT on last year's output of 19.24 MMT.


Germany will sneak back to the top of the table as Europe's largest producer with a crop of 5.45 MMT, up 13% on 4.82 MMT in 2012, they say. French production will fall 5% to 5.2 MMT,

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Chicago Closing Comments, Corn Rally Stalls

30/04/13 -- Soycomplex: Beans failed to hang onto early strength. Maybe that was tied to month-end positioning and/or profit-taking? Or maybe ideas that the current slow corn planting progress will ultimately mean more soybean acres? Whatever, old crop months closed more than 20 cents off the early highs at the finish. Demand certainly seems to be switching to South America, with Brazil more than

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