Written Commentary
ADM Appoints Monish Patolawala as EVP and CFO
July 10, 2024
ADMISI London Wheat Report for 14 October 2020
- ADMISI Research Team
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Corn and beans were supported on news of fresh US export sales to China (420Kt of Corn and 264Kt of Soybeans) whilst wheat ran into some resistance after talk of potential rain in Southern Russia and the US southern plains. The forecast is also improving for Brazil which may have capped the gains in corn and beans.
Sterling mounted a decent turnaround today and may have pressured London wheat lower. The spread between Nov20 and May21 continues to widen, reaching £3.00/t before closing at a £2.35/t carry.
Paris wheat traded around unchanged to slightly firmer for most of the day with Dec20 posting another contract high on the close. News of the French soft wheat crop being reduced by another 0.3mmt to 29.2mmt (French AgMin) and a corresponding tightening of ending stocks may have counterbalanced the better weather forecast.
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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.
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