ADMISI London Wheat Report for 7 June

Source: Future Source 

The recent market volatility continues, with markets sharply higher to start the week with North American weather the main driver. The GFS weather model still looks for some rain in the Northern Plains but the European and Canadian models forecast extreme heat and dryness.

Europe remains largely dry with, some rains forecast in the Black Sea region but Russian spring wheat areas look to remain hot with little precipitation.

CBOT soybean oil futures rallied to a record high today on the back of tight supplies with strong biofuel demand and concerns that the current soybean crop might disappoint. CBOT soybean oil Oct21 is up 71.3% this year.

USDA June21  WASDE out on Thursday.

Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team

Hanne Bell & Ryan Easterbrook

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

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© 2021 ADM Investor Services International Limited

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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