October 03rd

Market Report

Our market reports are opinion based and are not instructions to trade. You are responsible for your own trading decisions.

London wheat closed up 5p on Friday to bring the weekly gain to 35p but up £4.10 for September.

London markets were helped by sterling which fell sub to 1.15 (.8650p) against euro as Brexit gathers pace.

USDA report on Friday was neutral for corn and soya but wheat stocks were up 21% year on year, they are at the highest level since 1998; US markets however closed marginally up on Friday.

IGC predict unchanged winter wheat plantings (northern hemisphere) for 2017 crop. Low prices for wheat have been countered by weaker currency for some producers / exporters

Planting in Ukraine and some parts Russia hampered by dry conditions; Ukraine are behind on last year and 2015 planting was also a very bad year but saved by sympathetic weather!

German firms rally around to support Deutche Bank.

Oil c. $50 barrel

author: Joe Beardshaw