NIOBIUM LABS M.E.P.E
Farminguk
01 May 2016 | Online since 2003
Rowett Insurance Broking Ltd


23 November 2012 09:04:37|

Strategie Grains lowers European wheat estimates


Jonathan Lane, Gleadell’s trading manager, comments on markets...
Wheat
Markets are virtually unchanged from last week - fundamental long-term support is still intact due to further potential crop reductions in the Southern hemisphere and declining new crop US wheat ratings. US winter wheat crop ratings fell another 2 points to 34% good/excellent, mainly as a result of the dry weather that has affected much of the Midwest, and compared with a rating of 50% this time last year.
European markets again drew support from a further decline in the wheat crop forecast, as Strategie Grains lowered their estimate to 122.7mln t, down from 123mln t last month. The lower crop will again leave traders projecting a bullish export outlook with limited competition from weather-affected rivals.
In the UK, it appears that the Vivergo plant in Hull is ‘up and running’ with purchases of wheat for next week delivery being made. Initially, they are buying wheat down to min 68kg/hl. Although many had included this facility in their supply & demand estimates for this season, the reality of the commissioning dims another ray of hope to the UK market ‘bears’.
Oilseeds
The early part of the week has seen soybeans find some support, with market volatility easing and a small range developing. Volumes have been light with traders reducing risk ahead of the US Thanksgiving holiday on Thursday where US markets are closed. The soybean fundamental outlook remains one of tight supplies and strong demand, but we have a large South American crop looming for early next year and there are reports that better weather is aiding these plantings.
Domestically, the UK market remains quiet with ex farm rapeseed worth around £365/tonne. There is a similar story in continental Europe with little coming forward from farm as the market remains below target selling levels for farmers. In Germany, which along with France are the EU’s biggest producers, favourable weather has led to an estimated 100,000 Ha increase in plantings.
Over the past week global markets have been influenced by macro-economic factors including the Israeli–Palestine conflict, the seemingly never ending Greek debt saga and uncertainty regarding the US budget and tax policies known as the ‘fiscal cliff’. All these factors have added a cautious tone to global markets.

Download





0 Comment


Name

Please enter your name


Email

Comment

Please enter your comment


Post Comment

Your comment submitted successfully.Please wait for admin approval.


Comments

No comments posted yet. Be the first to post a comment

World News

United Kingdom | 29 April 2016
Banned pesticides 'not equally harmful' to bees

The largest field study so far in to the group of pesticides called "neonicotinoids" has concluded that each acts differently on the brains of the bees. One of the chemicals widely considered as be...


Canada | 29 April 2016
Competing ethical meat standards leave Alberta beef farmers in crossfire

Colleen Biggs and her husband, Dylan, own an award-winning livestock operation in Alberta. TK Ranch produces beef without antibiotics, drugs, added hormones, animal by-products and chemical insecticid...


India | 29 April 2016
Govt plans to use quarter of farmland for horticulture

In a bid to gain from Haryana's close proximity to the national capital, the state government has planned to use major chunks of agriculture land for horticulture in the state. The state governmen...


Austria | 29 April 2016
Negative effect on Austrian agriculture

The trade agreement between the US and Europe, TTIP, will have negative effects on employment and the biggest losses in jobs will be in the agricultural and food producing sectors. This is one of ...


New Zealand | 29 April 2016
Suicide concerns rise for farmers as dairy downturn takes its toll

A rise in substance abuse and domestic violence in Golden Bay's rural community raises concerns over suicide as the dairy downturn continues to bite, mental health workers say. Community Mental Hea...



Trending Now

Viewed
Discussed

Farms and Land for sale


Holiday Rentals search



Top stories you may have missed
Username
Password