London Wheat Report

Well, the big news which lead the markets today is that Donald Trump will become the next US President, The dollar soured dragging markets down across the pond before rebounding later in the afternoon. Beans, as well as having to deal with currency also had the threat of what Donald’s new policies will have on trade between the US and China.
Predictions will start to develop around China and US future trade relationship as Trump regains the White House. His plans to put America first and to do everything he can to prevent businesses from moving out of the US will most likely come with changes to the global trade status quo. China’s window to buy US beans will be wide open for the next 80 days. The WASDE report becomes the next focus for most in the Ag trade.
London began the day trading well down before May 5 found some support to close slightly down. Volume was average of late with around 400 lots crossing the line across the curve. May 26 traded today for the first time in a while with 25 lots being traded at £199.50. There were no London Nov4 tenders today with open interest holding at 7 lots.
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