London Wheat Report
The CME Group CME.O and Euronext ENX.PA exchanges are planning to launch joint futures contracts on the spread between Chicago Board of Trade wheat and Euronext milling wheat futures prices, three sources told Reuters on Wednesday. There will be two products, one cleared by CME and traded in dollars, the other cleared by Euronext and traded in euros, the sources said on the sidelines of the GrainCom conference in Geneva. There has been no official word from both the CME and Euronext.
Markets were all over the show today, up down, left right, sideways. No one could really pick the bones of why. News stories continue to filter through regarding Russian crop damage, weather issues and crop conditions. It seems the markets are particularly sensitive to any sort of news story at the minute. Below is the daily chart for Chicago wheat, showing just how topsy turvy it’s been today.
Source: CME Group
London traded up over £3 and then down over £2 from yesterday settlement before closing pretty much unchanged. Nov 24 saw over 500 lots traded on screen. May 25 saw its busiest day in some time with over 100 lots trading, this at one stage was trading up over £4 before closing unchanged.
2 days until the Summer Corn Bourse, we look forward to seeing you there.
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.
Latest News & Market Commentary
ADM & Industry News
The Ghost in the Machine Q3 2024
October 8, 2024
ADM and Farmers Business Network® Launch Gradable JV
August 20, 2024