
London Wheat Report
Economic news today that the BofE have reduced the interest rate to 4.25% down from 4.5% and have hinted at further cuts to come. Today also saw The US and UK announce a major tariff removal between the two countries. Donald Trump removed the 25% tariff on UK steel and aluminium, and immediately cut the rate on most car exports from 27.5% to 10%. In return, the UK government says it’s removing the tariff on ethanol for US goods, and agrees “reciprocal market access on beef.’’ Arsenal was knocked out of the Champions League last night and somehow managed to come fourth in a competition they won after the quarter finals, fingers crossed Spurs will follow in their North London big brothers’ footsteps this evening.
Very quiet day for Agricultural news, however, one piece of supportive news for the Soybean market is China, the world’s largest soybean buyer, has resumed Brazilian soybean shipments from five firms previously suspended over phytosanitary concerns, according to a source familiar with the matter and Chinese customs data.
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