ADMISI London Wheat Report for 16 December

London Wheat Report

Chart 16 December 2022

Source: FutureSource 

TGIF!

A pretty uneventful and uninspiring day on the markets today. India is contemplating banning corn exports due to shortages. Russia has continued its frenzy targeting Ukrainian energy infrastructure. Cold snap hitting the UK is meant to warm up next week thankfully as we are not built for these polar conditions. Brent crude is trading lower again today.

Continued chatter about the outloading from Odesa due to recent Russian strikes although it seems to be continuing from all accounts. Matif wheat hit a near 9 month low today with Mar-23 settling down €1.50 on yesterday at €297.50/t. Volumes were also pretty thin as Christmas trading period nears with little market action. Chicago wheat didn’t do a lot today or offer any direction regarding to Matif. London was also fairly quiet although new crop Nov-23 did strengthen.

US oilseed complex was supported. Matif rapeseed found support with Feb-23 settling up €1.50 on yesterday at €560/t.

 

Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team

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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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