ADMISI London Wheat Report for 26 October

London Wheat Report

ADMISI London Wheat Chart

A slower day on our London wheat contract with less than 203 lots traded across the curve. Nov23 OI drops to 403 lots after a chunky tender yesterday. With 8 lots of original tenders today and no trade on the Nov23 we can expect this to be 395 lots tomorrow morning.

Markets were softer to start until the news of the Ukrainian “humanitarian corridor” broke, with markets bouncing soon after.

The news of the day was Ukraine deciding to suspend the use of its new Black Sea grain corridor as a result of the increased threat of Russian warplanes. We do not know how long the suspension would last. Ukrainian officials tell us more than 1.5m tonnes of cargo has already passed through the corridor, with grain, oilseed, vegetable oils, and meals dominating the shipments.

The news offered a level of support but this faded as the day continued with London wheat and Euronext milling wheat posting marginal gains.

Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team

Hanne Bell, Ryan Easterbrook, Dominic Enston and Aaron Stockley-Isted

Phone: +44 (0)20 7716 8477  or  +44 (0)20 7716 8140      Email: intl.grains@admisi.com

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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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