London Wheat Report
Some green on the screen in the grains today. Milling wheat saw a decent move higher (May24 settles up 3.50 on the day) while London wheat was again sluggish to react. It doesn’t sound like there’s been much on in the UK physical trade this week and this is reflected in the futures.
The US Dollar index climbed over 1% on the back of a higher than expected CPI print. The March consumer price index increased 0.4% when up 0.3% was expected, and the consumer price index excluding food and energy advanced 0.4% when a gain of 0.3% was anticipated. This kept a lid on US grains to some degree, although they still were trading in the green.
It’s reported that 600 kt of corn could leave Ukraine for China in April, says Spike Brokers, which tracks and publishes export statistics. Ukrainian analysts say at least 22 million tons of corn could be exported in the 2023/24 season. Farm ministry data shows 20.1 MMT of corn had been exported as of April 10.
Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team
Ryan Easterbrook or Aaron Stockley-Isted
Phone: +44 (0)20 7716 8477 or +44 (0)20 7716 8140 Email: intl.grains@admisi.com
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.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.