News Snippets

Tunisia have bought 92,000 MT of milling wheat from Invivo at $182.45 and 50,000 MT of durum wheat from Cassilo at $262.65, according to media reports.

Decent rains in South Australia state mean that this season's wheat crop will come in at 3.3 MMT, 1.2 MMT more than last season's drought-affected crop, according to the state's official estimate.

Ukraine has exported 4.28 MMT of grain so far this marketing year (to Sept 4th), according to the Ag Ministry there.

The Russian Ag Ministry has admitted that it might harvest a bit more than the official grain crop estimate of 85 MMT, saying that yields in Siberia have been "extraordinary". Output will be 9-14% more than previously estimated, they say. An increase of 14% give us a crop of 97 MMT, exactly what SovEcon said a few weeks ago.

The pound is up for reason's I simply cannot explain. Maybe it's got something to do with America being shut? It seems to be being associated with a return of risk appetite, well if it's risk you want you've come to the right shop with sterling. The BoE are meeting again this week, of course no movement is expected on interest rates, or to increase QE even further. They might however provide some pointers as to when any changes might be made.

Soybeans have more downside in them according to Rabobank, and soymeal's slide could have another $80-100 in it yet, according to Oil World.