EU Wheat Consolidates For Second Session

31/07/13 -- EU grains ended the day managing a bit more consolidation from recent losses for a second session. The recent fall to 12-19 month lows in London and Paris wheat has flushed out some buying interest and bargain hunting, even if most of it is being absorbed by Black Sea sellers for the time being.


On the day both Nov 13 and Jan 14 London wheat closed GBP1.75/tonne firmer at GBP164.25/

Read More

Headline Of The Day

31/07/13 -- Picked up on the modern day marvel that is Twitter:

Frack the 'desolate' North East, says Tory peer (who lives in the south)


At least they think he said Frack, but as he had six plums and a couple of silver spoons in his mouth at the time it was difficult to tell.

Desolate? He's obviously never been to Middlebrough, or Greggs-land to give it it's proper old English name.

I'm

Read More

EU Rapemeal Prices Extend Slide As Seed Hits Multi-Year Lows

31/07/13 -- Rapemeal prices on the continent continue to slide. Rapeseed prices in Europe slumped to a 3 year low last night, whilst Canadian canola futures hit a 33-month low.


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 }




Jul13

212.00


-8.00

Read More

Is The Arse About To Fall Out Of The Potash Market?

31/07/13 -- The cynics amongst you might say that this is just another pathetically flimsy excuse just to post a picture of a Brazilian ladies peachy lycra-clad bottom, but that's not true.
There's serious journalistic intent here.

In lieu of not having a picture of potash in my files, I've been forced, as a last resort, to use a picture of a Brazilian ladies derriere instead, much as I am loath

Read More

Chicago Mixed, Soy Down, Corn And Wheat Higher

30/07/13 -- Soycomplex: Beans fell sharply despite the USDA announcing a sale of 290,000 MT of new crop US soybeans to unknown. Some of the selling on front month Aug 13 may have been linked to tomorrow being first notice day on the contract. There's talk that China may have bought a cargo of western Canadian beans for Nov shipment. India’s Agriculture Commissioner estimated India’s soybean crop

Read More

EU Wheat Consolidates, Production Estimates Keep Rising Though

30/07/13 -- EU wheat closed firmer for a change, in consolidation mode following recent declines to one year lows in the case of London wheat and 19-month lows for Paris wheat.


Nov 13 London wheat ended the day GBP1.50/tonne firmer at GBP162.50/tonne and with Jan 14 closing up GBP0.50/tonne at GBP163.50/tonne. Nov 13 Paris wheat rose EUR1.25/tonne to close at EUR187.50/tonne.


Friendless Aug

Read More

Is There A Chink Of Light At The End Of The Tunnel For Wheat?

30/07/13 -- Most of us are hearing that the early French wheat harvest is throwing up some low proteins, also a bit of stuff has been cut in Germany with similar results, although it's early days yet.


My chum Rudy at Bloomberg said on Twitter yesterday that he'd "Hitched ride on combine in Nievre. After 4 days harvesting soft wheat yield normal, spec 80 kg/hl, protein 9.5-10% where normally

Read More

EU Rapemeal Values Decline Further

30/07/13 -- Rapemeal prices on the continent are lower once again. As nearby July comes into line with new crop, prices there have fallen EUR40/tonne in a week. Nov/Jan is down EUR20/tonne versus last Tuesday.


Oil World have increased their forecast for the EU rapeseed crop to 20.5 MMT. German output is estimated up almost 21% to 5.8 MMT, with production in Poland expected to jump more than 26%

Read More

The Morning News Round

30/07/13 -- The overnight market sees beans and meal mixed, corn around 3-4 cents higher and wheat up 5-7 cents.


Supporting wheat is news that Japan has rescinded it's ban on importing US western white wheat, which has been in place for two months now following the Oregon GMO scare. They say that they've finalised a GMO testing protocol and will obviously now be monitoring US shipments for

Read More

Chicago Mixed, Outlook For Bumper 2013 Crops Weighs

29/07/13 -- Soycomplex: The recent capitulation of the front end Aug 13 beans and meal would appear to have finally flushed out some buying interest. The outlook for a bumper 2013 US soybean crop keeps the forwards under pressure though, as the weather forecast offers little in the way of threats for the time being, although the significantly cooler than normal temperatures across the Midwest may

Read More

EU Wheat Down Again, Russia/Ukraine Influence Weighs

29/07/13 -- EU grains were lower again, with Aug 13 Paris wheat falling to a new lowest level for a front month since Dec 2011. The Nov 13 London wheat future ended at its worst in over a year too.


London wheat closed with front month Nov 13 GBP1.75/tonne lower at GBP161.00/tonne, Jan 14 was GBP1.10/tonne easier at GBP163.00/tonne and Nov 13 Paris wheat fell EUR1.50/tonne to EUR186.25/tonne.

Read More

EU Rapemeal Prices

29/07/13 -- Rapemeal prices on the continent are mixed, lower nearby and a bit firmer further forward, essentially taking away some more of this front-end premium much as soymeal has been doing in Chicago in recent sessions.


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 }

Read More

The Morning Vibe

29/07/13 -- The overnight Globex grains are lower across most of the board, with beans down 10-14 cents, meal off USD3-4, corn around 2-3 cents weaker and wheat pretty much flat.


Dec 13 corn is down to its lowest levels since Nov 2010 as US weather continues with the non threatening theme. Aug 13 beans are at a more than 1-year low meanwhile.


Jordan are tendering to buy 100 TMT of wheat.

Read More

The Rain In Spain

29/07/13 -- Has been falling mainly where there's grain it would seem, for our Spanish chums are in for their largest grain crop in more than 20 years, according to the local Cooperatives Agro-Alimentarias Group.

In a country dogged by habitual drought an unseasonably wet winter, followed by the 5th wettest spring since 1947, means that this year's grain harvest could soar 54% to 23.9 MMT this

Read More

York Races - High Hopes

27/07/13 -- Well, in the two races mentioned at last night's York meeting the first was won by the horse drawn 19 out of 20 and the third race (13 runners) went to the horse drawn 10 with 11 coming second.

Continuing with the same theme, today's big sprint handicap is the 3.30, with the horses drawn highest being the well fancied Khubala (7/1) drawn 17, Rasman (18/1) drawn 18, Regal Parade (33/1

Read More

Nearby Chicago Soy/Corn Values Fall Around 10 Percent On The Week

26/07/13 -- Soycomplex: The market closed mixed, with front months lower but new crop higher. After three days of pretty dramatic action today was a relatively calm affair, maybe that suggests that the old crop/new crop realignment has been done? The USDA reported that China had bought 220 TMT of new crop US soybeans. There's talk that China’s Sinograin bought four Brazilian bean cargoes earlier

Read More

EU Grains Under Pressure From Cheaper Black Sea Crops

26/07/13 -- EU grains ended the day mixed with maybe just a hint of pre-weekend consolidation going on after another week of prices gradually grinding lower.

On the day both Nov 13 and Jan 14 London wheat closed unchanged at GBP162.75/tonne and GBP164.10/tonne respectively whilst Nov 13 Paris wheat settled EUR0.75/tonne easier at EUR187.75/tonne. There's no consolidation in sight yet for Paris

Read More

EU Rapemeal Prices Slump Further

26/07/13 -- Rapemeal prices on the continent are sharply lower for a third day, following steep declines in CBOT soymeal.


Ukraine analysts ProAgro forecast OSR production there to jump 76% to 2.2 MMT this year, with almost the entire crop (2.1 MMT) likely to be exported, and the vast majority of that will be coming to Europe.


Paris rapeseed trades at lifetime contract lows, with Aug 13 at

Read More

Chicago Soy Crash Continues For Third Day

25/07/13 -- Soycomplex: At this point it is tempting to just re-post yesterday's market report and simply change the date and see whether anybody can tell the differnce. Soybeans down heavily, with the biggest losses at the front end? Check. Meal locked in limit down? Check. Soybean oil at new lows not seen since October 2010? Check. Heavy fund selling across the board? Check. That's that then.

Read More

EU Grain Demise Continues

25/07/13 -- EU wheat closed lower once more on what looks like harvest pressure and seasonal developments. Yet again Paris rapeseed took another slaughtering, falling to the lowest levels for a nearby month since Aug 2010. It's a job to know where this will end, the Aug 13 rapeseed contract expires next week but this total capitulation isn't just confined to the nearby contract, thither months

Read More

Is Anyone Going To York Races Tomorrow Night?

25/07/13 -- There's some sort of Cargill-related do on I understand. For those who haven't got a clue about one end of a horse from another, it may interest you to know that I've spotted a bit of a trend in certain races at York lately.

Specifically, in sprints. Whilst not infallible (Disclaimer: always read the label, horses can run backwards as well as forwards etc) it would be interesting

Read More

EU Rapemeal Values Slide

25/07/13 -- Rapemeal prices on the continent are finally showing signs of some long overdue capitulation. A limit down move in nearby Chicago soymeal values last night, and the overnight Globex market also locked in limit down this morning have the market under pressure today. Paris rapeseed futures meanwhile are setting lifetime contract lows on an almost daily basis, with Aug 13 down to levels

Read More

Chicago Lower, Spreads Adjusting

24/07/13 -- Soycomplex: Extreme volatility continues with both front month beans and meal closing down the daily limit. Meal, which was limit up on Monday and traded between USD18 higher and USD18 lower yesterday, now closes limit down! Meanwhile the Aug 13/Nov 13 soybean spread, which was as wide as USD2.31 3/4 on Monday night has narrowed by almost a dollar in just two days to end at USD1.35 3/

Read More

EU Wheat Mixed, Close To Multi-Month Lows

24/07/13 -- EU grains were mixed, consolidating a little from some of the recent losses. Nearby Nov 13 Paris wheat fell below EUR190/tonne at one point yesterday, for the first time since Dec 2011, before closing at a lifetime contract low, whilst Nov 13 London wheat finished at a 12-month low. Maybe a degree of consolidation was therefore in order.


London wheat closed with front month Nov 13

Read More

EU Rapemeal Prices

24/07/13 -- Rapemeal prices on the continent are lower across the board, following declines in CBOT soymeal values last night and on impending harvesting of the EU 2013 rapeseed crop. Harvesting in Ukraine is nearing completion, and the crop looks like being more than 50% up on last year's levels.


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

Read More

Chicago Ends Lower Across The Board, Soymeal Very Choppy

23/07/13 -- Soycomplex: A very volatile session saw front end beans and meal collapse, Aug 13 meal traded between USD18 up and USD18 down during the session, before settling towards the lower end of that range. Aug 13 beans also ended sharply lower in what was described as a very crowded bull market one week ahead of first notice day, by Benson Quinn Commodities. August options expire Friday too.

Read More

EU Wheat Continues To Slide

23/07/13 -- EU grains ended lower, extending the recent slide, on harvest pressure. London wheat began the day higher, trying to consolidate a little, but with the pound rising to a 4-week high against the dollar, weaker US markets and new crop Dec CBOT corn slumping to its lowest levels since Nov 2010, holding onto those gains was never going to those early be easy. And so it proved.


Benchmark

Read More

EU Rapemeal Prices

23/07/13 -- Rapemeal prices on the continent are mostly lower today, despite a precipitous rise in Chicago soymeal values last 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:
.nobrtable br { display: none }




LH Jul13
260.00
+5.00


Aug13

Read More

Chicago Soybeans And Meal Press On To New Highs, Oil Slumps

22/07/13 -- Soycomplex: It was a continuation of the same old theme, with nearby months posting strong gains on strong demand, tight US stocks and a likely late harvest further exacerbating the front end squeeze. Aug 13 meal closed limit up bid, with front month beans gaining almost 30 cents. This was a lifetime contract high for Aug 13 meal, whilst Aug 13 soybean oil closed at a new lowest close

Read More

EU Wheat Down, Rapeseed At Near 3-Year Low

22/07/13 -- EU wheat closed lower, in a relatively slow start to the trading week, although one not without one or two interesting developments.


Nov 13 London wheat ended the day GBP1.65/tonne lower at GBP165.85/tonne and with Jan 14 also closing down GBP1.65/tonne at GBP167.25/tonne. Nov 13 Paris wheat fell EUR1.75/tonne to close at EUR192.50/tonne. Friendless Aug Paris rapeseed is falling

Read More

EU Rapemeal Prices

22/07/13 -- Rapemeal prices on the continent are mostly firmer today, with the exception of nearby July, which continues to fall to realign itself closer to new crop levels.


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 }




LH Jul13

255.00


-5.00

Read More

The Midday News

22/07/13 -- The overnight market sees beans and meal continuing to add nearby premium. Why on earth was Aug 13 such a substantial discount to Jul 13 when the latter expired a little over a week ago?


Corn is 2-3 cents easier on the overnight Globex market, with new crop Dec 13 crucially back below the USD5/bu mark. Wheat is 1-2 cents firmer. Both London and Paris wheat are up a tad.

Poor old

Read More

Ensus Sold To Germans

22/07/13 -- Breaking news this morning is that stop-start UK bioethanol business Ensus has been sold for a knock-down price to German firm CropEnergies AG, a member of the Südzucker Group, the largest sugar producer in Europe.


CropEnergies say that they plan to invest more than GBP50 million to improve the competitiveness of the plant.


The acquisition was said to have been completed on Friday

Read More

Chicago Market Close - Friday

19/07/13 -- Soycomplex: The market continues to add back in much of the nearby premium that was taken away when the Jul 13 bean and meal contracts expired. Strong demand for meal sees old crop US export sales now running at 99.9% of the USDA forecast for the season following yesterday's weekly report, the 5-year average for this time of the year is 88.7%. The word on the streets is that Argentine

Read More

EU Wheat Grinds Lower, Rapeseed Takes Another Thrashing

19/07/13 -- EU grains were mixed in a relatively subdued session. The market appears to be waiting for the European wheat harvest to get into full swing before a better assessment of quality and yields can be made. Meanwhile though wheat is grinding slowly lower. There's nothing slow about the demise of rapeseed however, that market has fallen more than EUR100/tonne in less than 3 months.

Read More

Chicago Markets Mostly Lower On Improved Weather Outlook

18/07/13 -- Soycomplex: Weekly soybean export sales of 702,300 MT were at the top end of expectations of 350-700 TMT, even so the market closed lower on an improved outlook for rain and cooler temperatures across much of the Midwest. Soybean oil remains friendless, tonight's close was a new multi-year low with Aug 13 settling at the lowest for a front month since October 2010. Meal is therefore

Read More

EU Wheat Grinds Mostly Lower, Egypt Buys Black Sea Origin

18/07/13 -- EU grains were mostly lower on continued harvest pressure and weaker US markets. Fresh news was relatively thin on the ground. Benchmark Nov 13 London wheat closed GBP0.30/tonne weaker at GBP168.10/tonne, with Jan 14 down GBP0.10/tonne to GBP169.50/tonne and Nov 13 Paris wheat settling EUR0.25/tonne easier at EUR194.25/tonne.


French analysts Strategie Grains raised their forecast

Read More

Chicago Mixed, Mostly Lower, Weather Dominates

17/07/13 -- Soycomplex: The market was narrowly mixed, with beans closing only a few cents either side of unchanged. The nears remain tight on lack of domestic availability and ideas that this season's US crop will be late due to delayed plantings. Lanworth Inc lowered their forecast for that from 3.360 billion bushels to 3.315 billion. They also cut their world soybean production forecast from

Read More

EU Wheat Mixed, Chinese News Supports

17/07/13 -- EU wheat closed mixed. A stronger pound weighed on London wheat, following news that the BoE voted 9-0 earlier this month to keep QE unchanged versus a 7-2 split on June. UK unemployment also fell 57k, said the ONS.


Nov 13 London wheat ended the day GBP0.10/tonne lower at GBP168.40/tonne and with Jan 14 also closing down GBP0.10/tonne at GBP169.60/tonne. Nov 13 Paris wheat rose

Read More

Chicago Market Comments - Tuesday

16/07/13 -- Soycomplex: The market closed sharply higher, adding to yesterday's gains, with the nears supported by strong demand and the cash basis at or near record levels. For soybeans we still have a picture of "jam tomorrow" - but tomorrow isn't today is it? Oil World said that China will import a record 7 MMT of beans this month versus the 5.87 MMT imported in July 2012. They also said that

Read More

EU Wheat Mixed, UK Imports Up Sharply

16/07/13 -- EU grains were mixed in a relatively subdued and low volume session. Harvest pressure weighs, although ideas that the Russian crop might not be as high as official estimates suggest is supportive.


London wheat closed with front month Nov 13 GBP0.55/tonne firmer at GBP168.50/tonne and Nov 13 Paris wheat ended unchanged at EUR194.00/tonne.


The French wheat harvest is off to a

Read More

Chicago Mixed, Soybeans Up, Corn And Wheat Lower

15/07/13 -- Soycomplex: The market began the week with new front month Aug 13 beans putting back in some of the nearby premium that the expiry of the Jul 13 contract took away on Friday. The June NOPA crush number of 119.1 million bushels was supportive, although down 3.5 million on May it was above the 115-117m that the trade was expecting. Only 105m/month was needed to hit the USDA target for

Read More

EU Wheat Lower On Harvest Pressure

15/07/13 -- EU grains were lower on harvest pressure and weaker US markets. Benchmark Nov 13 London wheat closed GBP1.80/tonne weaker at GBP167.95/tonne, with Jan 14 also down GBP1.80/tonne to GBP169.15/tonne and Nov 13 Paris wheat settling EUR3.75/tonne easier at EUR194.00/tonne.

The hot and dry spell has brought EU crops forward, allowed them to dry out and further reduced disease pressure.

Read More

EU Rapemeal Prices

15/07/13 -- Rapemeal prices on the continent are lower today, although not as much as they might have been given steep declines in Chicago soymeal values on Friday night.


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 }




LH Jul13

260.00


-9.00

Read More

Bizarre Headline Of The Day

14/07/13 -- From the BBC today:


Brazilian man killed in his bed by falling cow


Now there's one you don't see every day, which puts me strangely in mind of MrsN#1 for some reason, bless. We just drifted apart in the end. She fell asleep on a lilo on holiday in Corfu and I pushed her out to sea.

Read More

Chicago Corn And Beans Crash Ahead Of Weekend, Wheat Little Changed

12/07/13 -- Soycomplex: The soybean market closed sharply lower to end the week, but still managed to post weekly gains. Profit-taking ahead of the weekend was probably the most likely reason for today's crash. Sunday night's latest weather forecasts may decide where we go to start next week. A slightly cooler and wetter outlook in this afternoon's forecasts was all that was needed to get traders

Read More

EU Wheat Lower On The Day, Higher On The Week

12/07/13 -- EU wheat finished lower on the day, but still managed to post weekly gains. Paris rapeseed took another mauling however, with Aug 13 finishing EUR5.25/tonne lower at EUR392.50/tonne, the lowest close in the contract's history.


Nov 13 London wheat ended the day GBP1.25/tonne lower at GBP169.75/tonne and with Jan 14 also closing down GBP1.25/tonne to GBP170.95/tonne. Nov 13 Paris

Read More

Chicago Closes Higher, Although USDA Report Bearish Beans And Corn

11/07/13 -- Soycomplex: The USDA report came in bearish for beans, but the market closed higher. What does that tell us? Maybe that the market doesn't believe the USDA? It wouldn't be the first time and it sure won't be the last. Or maybe the market is an ass? Time will tell. US soybean carryout at the end of the current season will be 125 million bushels, the same as last month and the month

Read More

EU Wheat Higher Heading Into USDA Report

11/07/13 -- EU grains were mixed but mostly firmer, although Paris rapeseed took another bath, falling around EUR5-7/tonne. The rest of market sat on its hands for most of the day waiting for the release of the USDA's WASDE report at 5pm London time.


London wheat closed with front month Nov 13 GBP1.00/tonne firmer at GBP171.00/tonne and Nov 13 Paris wheat ended EUR1.75/tonne higher to finish

Read More

USDA WASDE Report Summary

11/07/13 -- The USDA's eagerly awaited raft of important numbers are out. For wheat they left Russian and Indian output unchanged at 54 MMT and 92 MMT respectively, when a drop may have been in order. They did however raise Chinese wheat imports in 2013/14 from 3.5 MMT to 8.5 MMT.


Here's a selection of some of them, with a few more to follow, I'm typing as fast as I can you know, and there's

Read More

EU Rapemeal Prices

11/07/13 -- Rapemeal prices on the continent are mostly a bit firmer, chasing gains in CBOT soymeal values last night. It's likely to be a quiet day as traders sit tight ahead of this afternoon's USDA report.


The Czech Stats Office estimate rapeseed yields there up 13% this year at 3.13 MT/ha.


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

Read More

Morning News Headlines

11/07/13 -- The overnight Globex grains are generally firmer, particularly on the nears (although remember that all these Jul 13 contracts go off the board tomorrow and are a bit technical).


The first thing to catch my eye this morning, apart from the lady with the substantial chest out jogging on my way into the office this morning, is news that Chinese think tank CNGOIC have raised their

Read More

Chicago Market Mixed Ahead Of USDA Data Due Tomorrow

10/07/13 -- Soycomplex: For once old crop beans performed the worst, although they do go off the board on Friday so some erratic trade to close the last few days of a contract with very thin open interest is maybe only to be expected. Customs data revealed that China imported 6.93 MMT of soybeans in June, an increase of 36% versus a month previously. The US weather forecast is far from ideal.

Read More

EU Wheat Mostly Higher, Question Marks Over Russia, India, China

10/07/13 -- EU grains were mixed but mostly higher with benchmark Nov 13 London wheat closing GBP0.55/tonne firmer at GBP170.00/tonne and Nov 13 Paris wheat settling EUR0.75/tonne stronger at EUR197.50/tonne.


Today was maybe about a bit of consolidation and book-squaring ahead of tomorrow's all important USDA crop report.


We can only wait and see what that will bring. For wheat it may include

Read More

Lunchtime News Bites

10/07/13 -- Chinese customs data puts June soybean imports at 6.93 MMT, up 36% vs. May. They're gonna need to stay close to that level every month for the whole of 2013/14 if the USDA target of full season imports of 69 MMT is to be equalled.


Reuters say that the corn basis in Cedar Rapids is USD1.75 over CBOT futures as physically available corn in the US remains as tight as a shark's arse at

Read More

EU Rapemeal Prices

10/07/13 -- Rapemeal prices on the continent are mostly firmer, in line with strong gains in Chicago soymeal values last night and a rebound in Rapeseed values in the past week or so on the MATIF after futures prices fell below EUR400/tonne for the first time since October 2010.


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

Read More

Chicago Market Sharply Higher On Weather, Short-Covering

09/07/13 -- Soycomplex: For a change it was new crop beans that led the charge today, even if soon to expire old crop Jul 13 did set another lifetime contract closing high. The US weather is warming up, and the late planted soybean crop is consequently lagging in development with only 10% of the crop at the flowering stage versus 24% normally at this time. CONAB estimated the Brazilian 2012/13

Read More

EU Wheat Prices Rise On Weak Currencies, Declining Russian Hopes

09/07/13 -- EU grains closed firmer as both the pound and euro fell sharply against the dollar, with Nov 13 London wheat ending GBP2.75/tonne higher at GBP169.45/tonne and Jan 14 also closing up GBP2.75/tonne to GBP170.75/tonne. Nov 13 Paris wheat rose EUR3.25/tonne to close at EUR196.75/tonne.


The vibe coming out of Russia is that this year's grain crop might only be average at best. Whilst

Read More

EU Rapemeal Prices

09/07/13 -- Rapemeal prices on the continent are mostly unchanged, with a couple of small adjustments to the nearby positions as July and Aug attempt to converge a bit closer together. The French Farm Ministry estimate OSR production there this year will fall 18.5% to 4.4 MMT.


German output however is expected to rise 21% to 5.8 MMT, according to Oil World, as the two countries swap places at

Read More

The Morning News

09/07/13 -- The overnight grains are generally firmer, adding to last night's gains. Nearby Jul 13 beans and meal are now at their highest level ever in the contract's history, and at the highest for a front month since last September,


All Jul 13 CBOT contracts expire on Friday, Aug 13 will then be the new front month for beans and meal and Sep 13 for corn and wheat.


Thursday bring the July

Read More

Chicago Jul 13 Soybeans Close At Lifetime Contract High

08/07/13 -- Soycomplex: Strong export demand for beans continues, with the USDA today announcing the sale of 120 TMT of new crop US beans sold to China, along with 135 TMT to unknown. Front month Jul 13 beans closed at a lifetime contract high. Weekly export inspections were modest at 2.465 million bushels, although in line with expectations of 2-6 million. After the close the USDA left good/

Read More

EU Wheat Mixed, China Steps Up Buying Activity

08/07/13 -- EU grains were mixed with new front month Nov 13 London wheat GBP0.15/tonne firmer at GBP166.70/tonne and Nov 13 Paris wheat down EUR1.25/tonne to finish the day at EUR193.50/tonne.


The market is looking for direction ahead of Thursday's upcoming USDA report. Whilst there are many reasons pointing to lower prices later in the year, there are also a few bullish indicators starting

Read More

Morning News Snippets

08/07/13 -- There's not a lot to get your teeth into so far this morning, with a relatively subdued feel to the market. That will all change later in the week no doubt when the USDA release their July WASDE report on Thursday. At least that means that we in Europe don't have to wait a whole weekend to trade the numbers for once.


I wonder what they will come out with for world wheat production?

Read More

Chicago Close: New Crop Dec Corn Falls Below USD5/bu For First Time Since Dec 2010

05/07/13 -- Soycomplex: Front month July beans closed higher, but all other positions were lower on a combination of a strong dollar and a non threatening weather outlook for the Midwest lasting at least until the middle of the month. Weekly soybean export sales of 120,600 MT of old crop and 249,100 MT of new crop were in line with trade forecasts for combined sales of 200-500 TMT. Meal sales of

Read More

EU Wheat Mixed, Egypt Unrest Promotes Risk-Off Mentality

05/07/13 -- EU grains were mixed but mostly lower to finish the week on Friday, despite surging crude oil values following Egypt's military declaring a state of emergency in the province of Suez. There was some suggestion that they may have said that they couldn't guarantee the safety of vessels passing through the Suez Canal following clashes with supporters of the newly ousted President Morsi.

Read More

Ukraine Latest And Essex Girls

05/07/13 -- APK Inform Agency estimate grain production in Ukraine this year at 54.1 MMT, a 17% increase on last season. That total includes 23.9 MMT of corn, 20.5 MMT of wheat and 7.1 MMT of barley. These numbers are pretty close to Agritel's recent estimates of 24.9 MMT, 20.5 MMT and 7.4 MMT respectively. The USDA currently come in unfashionably low for them on wheat at 19.5 MMT, with their

Read More

The Morning Vibe

05/07/13 -- It looks like the Septic Tanks are all still in bed, as to my immense disappointment there's no trade on the overnight Globex market following yesterday's Independence Day holiday. Quelle bummer as they say on the continent.


To say I'm crestfallen is an understatement. I feel like one of Katie Price's kids being unceremoniously switched to bottled milk. Talking of which, when I

Read More

EU Wheat Modestly Higher In Quiet Trade, Record Crops On The Horizon Though

04/07/13 -- EU grains closed firmer with Jul 13 London wheat (which expires on tomorrow and has an open interest of zero) nominally finishing the day GBP1.25/tonne higher at GBP155.75/tonne. Benchmark new crop Nov 13 ended also GBP1.25/tonne higher at GBP167.00/tonne and Jan 14 closed up GBP0.90/tonne at GBP168.50/tonne. Nov 13 Paris wheat rose EUR2.00/tonne to close to EUR196.75/tonne.


With

Read More

Chicago Market Mostly Higher Heading Into Holiday

03/07/13 -- Soycomplex: For soybeans and meal it was the same old story of tight US old crop stocks and strong world demand pushing prices higher. As ever, the prospect of potentially bumper US production in the months ahead paints a somewhat less bullish picture going forward. Lanworth estimated the 2013/14 US soybean crop at 3.36 billion bushels, up from a previous estimate of 3.34 billion. MDA

Read More

EU Grains Modestly Higher, Egypt Business Supports

03/07/13 -- EU grains closed mostly little higher, recovering a bit of ground from recent steep declines. Egypt re-entering the market after a four month absence yesterday added a bit of support. One swallow however doesn't make a summer.


On the day London wheat closed with the soon to expire Jul 13 future up GBP0.25/tonne to GBP154.50/tonne and new crop Nov 13 GBP0.50/tonne firmer at

Read More

Chicago Close - Tuesday

02/07/13 -- Soycomplex: The same old, same old theme of old crop higher, new crop weaker continued today. The USDA reported better crop ratings than last week, up 2 points good/excellent to 67%, last night. With plantings at 92% we still have around 3 million acres of US soybeans waiting to go into the ground, this week is make or break, although ideal weather conditions are in the forecast for

Read More

EU Wheat Mixed Tuesday

02/07/13 -- EU grains were mixed Tuesday, supported a little from the recent rout by Egypt re-entering the market for the first time since February.


A fragile and soon to expire Jul 13 London wheat finished the day GBP0.25/tonne firmer at GBP154.25/tonne, and the more liquid Nov 13 ended also up GBP0.25/tonne at GBP165.25/tonne. Nov 13 Paris wheat settled EUR0.75/tonne easier at EUR193.25/tonne

Read More

Chicago Mixed, New Crop Corn At 30-Month Low

01/07/13 -- Soycomplex: Nearby beans were firmer and new crop lower on a continuation of the recent theme of razor thin old crop stocks versus the USDA promise of potentially record US production to come. Front month Jul 13 raced to a lifetime contract high above USD16/bu before giving up most of those gains at the close, even so the contracts still finished the day 6 cents higher, with new crop

Read More

EU Wheat Closing Comments - Monday

01/07/13 -- EU grains closed mixed with Jul 13 London wheat (which expires on Friday) finishing the day GBP1.70/tonne easier at GBP154.00/tonne, and with the more active new crop Nov 13 ending GBP0.40/tonne higher at GBP165.00/tonne. Nov 13 Paris wheat rose EUR0.25/tonne to close to EUR194.00/tonne.


Dec 13 Chicago new crop corn slumped to 30 month lows following the USDA's surprise rise in

Read More

EU Rapemeal Prices

01/07/13 -- Rapemeal prices on the continent are lower today. Nearby FH Jul has now slumped over EUR20/tonne in two days as old crop falls to meet new crop, even so it's still at a hefty near EUR80/tonne premium to Aug/Oct so more losses can be expected. US farmers will/have planted a record 77.7 million acres of soybeans the USDA tell us. The trade thinks that it's probably higher than that too.

Read More