Written Commentary
Ag Market View for May 3.24
May 3, 2024
ADMISI London Wheat Report for 20 June
- June 20, 2023
- ADMISI Grains Team
- Follow us on Twitter @TradeADMIS
London Wheat Report
Source: FutureSource
Happy Monday!
US holiday today for Juneteenth Day so all US markets were closed which slowed things down somewhat for the day. Xi-Blinken agree to stabilize US-China relations in Beijing talks although the Taiwan topic remained in the ‘agree to disagree’ pile, unsurprisingly. Starmer confirmed today that Labour will end new North Sea oil and gas exploration if they win the next election.
Ukraine and Russia have kicked off their 2023 grain harvest in the south with barley being harvested in Odessa region over the weekend. MARS cut the average EU yield to 5.92t/ha, still above the 5.79t/ha average of last year. Saudi Arabia bought a reported 355kt of wheat from SALIC with an average price of $302.90/t FOB. Matif wheat had a day of trading a Euro down and a Euro up for the majority of the day before ticking up towards close with Sep-23 settling up €0.00 on Friday at €0.00/t. London had a day following Matif but ended the day supported. Volumes unsurprisingly thin.
Corn harvest is cracking on with Brazil’s Mato Grosso safrinha corn harvest 8.3% complete. Brent crude was trading down again today. Matif rapeseed Aug-23 settled down €4.245 on Friday at €469.25/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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