Written Commentary
Ag Market View for Apr 18.24
April 18, 2024
ADMISI London Wheat Report for 13 January
- January 16, 2023
- ADMISI Grains Team
- Follow us on Twitter @TradeADMIS
London Wheat Report
Source: FutureSource
TGIF and happy Friday the 13th! Let’s support our locals and make it a wet weekend rather than a dry one.
So UK economic data showed that the economy grew by 0.1% in November, partly boosted by World Cup fans spending more in pubs and restaurants. Tesla has decided to slash their prices on their new cars by as much as 20% in the US and Europe. Interesting theory when they are struggling with manufacturing capacity. Italians are kicking off today after Ireland announced plans to slap labels on alcoholic drinks, Italians see this as absurd and a potential effect on their wine exports. Russian forces have officially taken Soledar as Putin claims victory. Japan have announced that they will be releasing around 1Mmt of radioactive water into the sea from Fukushima ….. Godzilla may be appearing.
Wheat markets were pretty dull today post report yesterday. US markets were mixed with Chicago lower and Kansas higher. European markets were down, with both Matif and London lower. Not much news on the wheat front today. London Wheat traded across 4 different contracts today which is quite a rarity, including May & Nov 2024. Volumes were pretty impressive on the whole, with a cumulative 825 lots traded across all contracts. May-23 traded a whopping 711 lots!!! Matif Mar-23 settled down €3.00 on yesterday at €288.75/t.
US corn was trading unchanged for most of the day and soybeans continue to find support on the back on yesterday’s report. Ukraine Says 85% of 2022-23 Corn Area Harvested as of Jan. 12 Ukrainian farmers have harvested 23.5m tons of corn from 3.6m hectares (8.9m acres), according to government figures posted Friday. Turkey purchased 24kt of crude sunoil for Feb-Mar delivery. Matif rapeseed Feb-23 settled down €2.25 on yesterday at €566.75/t.
Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team
Hanne Bell, Ryan Easterbrook, Dominic Enston and Aaron Stockley-Isted
Phone: +44 (0)20 7716 8477 or +44 (0)20 7716 8140 Email: intl.grains@admisi.com
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Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
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