Lachstock | Daily Report on Grains
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Lachstock Consulting was founded in 2007 in Australia and specialized in the grain market. Using accurate research & market analysis, they produce grain market reports that aim to reduce your costs and increase profitability.
Chicago wheat fell 46.25usc/bu, Kansas wheat dropped 37.75usc/bu and Minni fell 50.50usc/bu. Matif milling wheat dropped EUR$11.75/mt and the Black Sea contract finished USD$4.25/mt lower. Corn was pummeled 23.75usc/bu, soybeans rallied 6.25usc/bu, meal dropped USD$2.10/st and beanoil was 0.30usc/lb higher. Matif canola was EUR$14/mt lower and Winnipeg was CAD$18.70/mt lower on the day. The Dow dropped 176 points while the AUD went home at 0.7173
Global Highlights
Fire sale. GASC put their head up looking for some wheat and were swamped. 18 offers from Russia, Romania, Bulgaria and France showed the willingness of the sellers to find homes. Add to this, comments from the Russian Dep Foreign Minister that they will find ways to supply the world despite sanctions. And finally add in a raft of good weather and the liquidation continues. This is all about flow – nothing new there but in the days of large ETF’s in the Ag space…
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