Independent Agri Commodity Insights
Our view of the USDA December WASDE Wheat In terms of wheat, the December USDA WASDE has been largely overshadowed by the possibilities of an export tax being placed on Russian wheat later this season. The changes in the December WASDE were largely expected with Australian production increased to 30MT…
New week and new high for EU rapeseed futures prices amid a reduced 2019 EU crop which will require record imports of the oilseed this season and pushed rapeseed oil prices to its highest level in Rotterdam since November 2017. The latter also results from the recent EU decision to…
UK wheat remains rangebound for now between £143/T and £150/T on the Nov-19 LIFFE feed wheat contract; awaiting further information from Russia where yields have been somewhat disappointing, yet the quality is excellent and we get confirmation of the good domestic wheat harvest. Rapeseed prices have seen ongoing support, gaining nearly…
In the wake of a promising domestic 2019 grain harvest and a lack of fresh news from the maize market, Nov-19 LIFFE feed wheat continued lower for a 3rd consecutive week on Friday ie its longest losing streak in 6 months. As harvest pushes forward across Europe and the Black…
After dropping to a near 2-month low of ~£143/T due to harvest progress in Europe last Wednesday, Nov-19 LIFFE feed wheat bounced back above its key 100-day moving average around £148.50/T with the USDA cutting its 2019 Russia wheat production forecast by more than expected. As expected, the controversial end…