Written Commentary
ADM Appoints Monish Patolawala as EVP and CFO
July 10, 2024
Turnaround Monday, with weaker markets early on giving way to firmer prices as corn, beans and wheat post strong rallies. Talk that a slightly drier South American weather forecast and growing technical support following the large sell off inspired fresh buying.
Lack of fresh wheat news made wheat a follower today, however the increasing export restrictions from Russia continues to offer a bullish tone to old crop markets.
London traded a £4.50/t range on old crop today, finally closing £1.85/t up on the day after initially opening £2.50 down. New crop markets were also firmer but volumes were thin and interest light.
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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.
© 2024 ADM Investor Services International Limited.
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