Written Commentary
ADM Corporate Sustainability Report 2023
May 16, 2024
ADMISI London Wheat Report for 8 May
- May 9, 2024
- ADMISI Grains Team
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London Wheat Report
Heavy flooding in southern Brazil has hit food storage facilities in lower areas while hampering the shipping of grains to port, jeopardizing the nation’s exports and wreaking havoc on the economy of Rio Grande do Sul state. One of Russia’s top grain regions, Voronezh, has declared a state of emergency because of frost damage to crops, the regional agriculture ministry said on Wednesday.
Global ags markets were sold off today as news of favourable weather in Russia and the US grain belt. Rain has been forecasted for these areas which will be warmly welcomed. Corn, beans and Wheat were all down on the US markets. Of late, corn and Beans have been gaining support and perhaps today was a little extra selling pressure due to the recent highs. Markets are also said to be under pressure as the USDA world supply and demand estimates are due and many believe the general consensus is plentiful world supplies for beans, wheat and corn.
London followed the trend from across the pond and the channel. Trading down. Volumes weren’t on the levels they were yesterday. November traded for just over 400 lots on the screen. May24 hasn’t got long until it goes off the boil and it had its most active day since the tender period began. 120 lots went through.
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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