ADMISI London Wheat Report
Another highly volatile day in global Ag commodity prices, however with a slightly weaker basis for wheat prices. Most markets especially corn and beans are extremely overbought and with fund money the main source of support to start the year any sign of weakness could mean a sharp selloff and fast downside correction. In the meantime however the big fundamental story in corn and beans is providing enough support to keep sellers away.
A 1-6 inch rain deficit in Argentina, a USD at the lowest level since April 2018, higher energy prices and surging palm oil prices are all supportive.
Physical markets, at least here in the UK remain quiet with sellers hard to find. However the green light for 2021 barley exports as a result of a Brexit trade deal has meant a flurry of demand from UK ports with barley still a £50+ discount to wheat and attracting strong interest from the EU.
To subscribe to this daily report please contact the team at email@example.com
Contact the ADMISI Grains and Oilseeds Derivatives Brokerage team
Hanne Bell, Ryan Easterbrook & Daniel Leeson
Phone: +44 (0)20 7716 8477 or +44 (0)20 7716 8140 Email: firstname.lastname@example.org
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice. ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG. A subsidiary of Archer Daniels Midland Company.
© 2020 ADM Investor Services International Limited
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.