Written Commentary
The Ghost in the Machine Q4 2024
November 15, 2024
London Wheat Report
With the US election results hanging in the balance and USDA WASDE on Friday, we may potentially see some ags volatility for the remainder of the week. Trump’s proposed tariffs are a particular focus for grain traders, as they could disrupt U.S. agri trade. The US Dollar is sharply lower today, dropping to a 2 week low.
196 lots of London wheat were tendered today, with just 7 lots of OI remaining this contract is just about done and dusted.
US harvest progress and winter wheat ratings were in line with expectations. Global weather forecasts generally remain crop friendly. Recent rains will help alleviate the spike in drought readings across the US midsection. Much of Europe will be dry over the next week, favourable for harvest activities. Mild improvement from drought is expected across E. Ukraine, S. Russia and Kazakhstan in the next week. In Brazil, widespread rains fell across the central growing regions in the past 24 hours with heaviest totals between 2-4” being felt in central Goias and Mato Grosso. Heavy rains favoured NE growing areas of Argentina the past 24 hours. A good mix of rain and sunshine over the next week to 10 will continue to support favourable crop development in SA.
Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team
Ryan Easterbrook, Aaron Stockley-Isted and Jamie Kirkwood
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
ADMIS Clients Gain Access to Abaxx Exchange and Clearinghouse
November 7, 2024
The Ghost in the Machine Q3 2024
October 8, 2024
