Written Commentary
The Ghost in the Machine Q4 2023
November 28, 2023
ADMISI London Wheat Report for 15 February
- February 16, 2023
- ADMISI Grains Team
- Follow us on Twitter @ADMISI_Ltd
London Wheat Report
Source: FutureSource
Further Grain deal chatter continued today and this time it was the turn of the Ukrainians who appealed to the UN and Turkey to immediately pressure Russia to stop hindering Ukrainian grain shipments. Ukraine has repeatedly accused Russia of delaying inspections of ships carrying Ukrainian agricultural goods, leading to reduced shipments and losses for traders. A Statement read “Ukraine is deeply concerned about the destructive actions of Russia”, which result in the delay of the work of the grain corridor and “obstructing the Black Sea Grain Initiative in general”.
French Farm Office FranceAgriMer today lowered its forecast for soft French wheat exports this season, which leads it to increase its stocks forecast. Estimates for exports outside the EU have been cut from 10.60 Million tonnes to 10.45 million forecast in Jan 23. The two previous months had seen an increase to forecasts which were due to strong buying from N. Africa however, they have reported a slowdown in new demand.
India’s 2023 wheat production is likely to rise 4.1% to a record 112.2 million tonnes, the government said on Wednesday, as higher prices prompted farmers to expand crop-growing areas with high-yielding varieties and the weather remained favourable.
Below shows just how far (or not perhaps) the ADMISI London Wheat report has come. This report is from 11th March 2002. Interestingly London wheat wasn’t the only UK Ags contract trading in 2002, there were Barley and UK potatoes contracts too. Although perhaps the volumes at the time is an indicator of why these contracts no longer exist! London Wheat Options were also trading which is practically unheard of in this day and age.
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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.
© 2021 ADM Investor Services International Limited.
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