Market Snippets
The overnight markets are higher across the board, reversing Friday's late sell-off as the latest weather forecasts emerging from the US call for more rain and snow this week.
The USDA will report on harvest progress after the close of CBOT tonight. Only 30% of the soybean crop and 17% of corn was harvested as of last Sunday.
As well as making exceptionally slow progress with the harvest - mould, disease and lodging problems are also threatening yields and quality. Wheat planting is also stalled.
The Philippines have bought 133,000 MT of Ukraine feed wheat at USD210 C&F. They are also in the market for rice after recent typhoons wiped out a substantial quantity of local paddy fields.
Feed production in China during September was up more than 17% on a year ago, according to China National Grain & Oils Information Centre.
Russia will start grain intervention on will start on November 2, according to Ag Minister Elena Skrynnik. It seems unlikely that they will buy as much as the estimated 8.6-9.6 MMT that they purchased last year though.
The dollar has set a new 14-month low against the euro this morning, falling to 1.5062.
The USDA will report on harvest progress after the close of CBOT tonight. Only 30% of the soybean crop and 17% of corn was harvested as of last Sunday.
As well as making exceptionally slow progress with the harvest - mould, disease and lodging problems are also threatening yields and quality. Wheat planting is also stalled.
The Philippines have bought 133,000 MT of Ukraine feed wheat at USD210 C&F. They are also in the market for rice after recent typhoons wiped out a substantial quantity of local paddy fields.
Feed production in China during September was up more than 17% on a year ago, according to China National Grain & Oils Information Centre.
Russia will start grain intervention on will start on November 2, according to Ag Minister Elena Skrynnik. It seems unlikely that they will buy as much as the estimated 8.6-9.6 MMT that they purchased last year though.
The dollar has set a new 14-month low against the euro this morning, falling to 1.5062.
