Written Commentary
ADM Reports Q1 2024 Results
April 30, 2024
ADMISI London Wheat Report for 8 April
- April 9, 2024
- ADMISI Grains Team
- Follow us on Twitter @ADMISI_Ltd
London Wheat Report
A slow day on London wheat, volumes wise and sluggish to react when Matif and US wheat markets found support. External wheat markets trade either side of unchanged with no outright direction for the day.
According to Roller Flour Millers Association of India, India is likely to produce 105 MMT of wheat this year, 6.25% lower than the government’s 112 MMT estimate. This could be one to watch.
The Biden administration is set to release a preliminary climate model for its sustainable aviation fuel (SAF) subsidy program in the coming weeks and it’s rumoured to be more restrictive than the corn-based ethanol industry had hoped for. Apparently, ethanol is not expected to automatically qualify as a feedstock in the SAF subsidy program unless the corn involved is sourced from farmers using one of just three sustainable agriculture techniques.
Brazil’s soybean harvest is 78% complete as of last Thursday (vs 78% last week and 82% this time last year), according to agribusiness consultancy AgRural.
USDA WASDE out on Thursday 11 April.
Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team
Ryan Easterbrook or Aaron Stockley-Isted
Phone: +44 (0)20 7716 8477 or +44 (0)20 7716 8140 Email: intl.grains@admisi.com
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