http://www.agtrader.co.uk Grain and oilseed news LONDON (Reuters) -- Sterling recovered from the previous day's one-year trough against a basket of currencies on Wednesday, after a hefty U.S. interest rate cut calmed risk aversion and encouraged investors to buy back high yielders. Investors also took heart from UK government's pledge to guarantee deposits at troubled mortgage lender Northern Rock, a victim of the credit market squeeze sparked by defaults on U.S. subprime mortgages. News late last week that the Bank of England would act as lender of last resort to Northern Rock had sparked a sharp sell-off in sterling on worries of more widespread trouble in the financial sector and speculation that the BoE may need to cut rates. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/forexvista.htm 19 Sep 2007 09:20:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/forexvista.htm TOKYO (Bloomberg) -- The dollar traded near an all-time low versus the euro and fell against the yen on signs U.S. economic growth is slowing, suggesting further erosion of the interest-rate advantage over Europe. The dollar weakened against 10 of the 16 most-active currencies after the Federal Reserve lowered its benchmark interest rate by a more-than-expected half percentage point. Reports today will probably show U.S. housing starts dropped last month and a gauge of inflation slowed. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista8.htm 19 Sep 2007 09:16:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista8.htm CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended mixed Tuesday, consolidating in choppy, two-sided trade after its recent run to multi-year highs. November soybeans settled 1-cent higher at $9.69 1/2. October soymeal settled $2.30 higher at $266.40 per short ton, and December soymeal settled $3.00 higher at $272.70. October soyoil ended 24 points lower at 39.48 cents a pound, and December soyoil finished 32 points lower at 39.89. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/soybeanvista.htm 18 Sep 2007 21:06:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/soybeanvista.htm CHICAGO (Dow Jones)--Chicago Board of Trade corn futures ended at unchanged levels Tuesday in thin, choppy trade, analysts said. December corn settled unchanged at $3.52 1/4 cents per bushel and March also ended flat at $3.69. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/cornvista.htm 18 Sep 2007 21:05:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/cornvista.htm CHICAGO (Dow Jones)--Profit-taking drove U.S. wheat futures lower Tuesday as a substantial cut in Australia's official crop estimate failed to surprise the markets, analysts said. Chicago Board of Trade December wheat fell 6 cents to $8.69 per bushel. Kansas City Board of Trade December wheat dropped 9 1/4 cents to $8.48 3/4, and Minneapolis Grain Exchange December wheat tumbled 9 1/4 cents to $8.15 3/4. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/wheatvista.htm 18 Sep 2007 21:04:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/wheatvista.htm WINNIPEG (Dow Jones)--Grain and oilseed futures at the Winnipeg Commodity Exchange closed Tuesday's session mixed, with canola mostly lower in a choppy trade as the strong Canadian dollar weighed on values, brokers said. Canola saw a moderate trade, with intermonth spreading accounting for much of the activity. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/canolavista.htm 18 Sep 2007 21:02:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/canolavista.htm LONDON (Dow Jones)--Liffe's European wheat futures finished higher Tuesday after Australia slashed its wheat crop forecast in catch-up with Monday's sharp gains in the U.S. wheat markets. Paris November milling wheat ended up EUR1.75, or 0.7%, t EUR265.25 a metric ton with 2,554 lots moved. London November feed wheat finished up GBP1.50 at GBP174.50/ton with 211 contracts traded. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/matifwheatvista.htm 18 Sep 2007 21:00:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/matifwheatvista.htm Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/rotterdamvista.htm 18 Sep 2007 14:22:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/rotterdamvista.htm CHICAGO (DTNAg)-- Corn futures are expected to open mixed; soybeans 5 to 7 higher; wheat mostly 10 to 12 higher. Wheat futures moved higher again in overnight trade while corn prices struggled. Soybeans traded higher on a slight deterioration of the U.S. crop reported Monday afternoon. http://www.btinternet.com/~davenorris/blank10.htm 18 Sep 2007 13:35:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Agtrader)--London-based feed wheat futures have opened GBP1.50 higher following the overnight eCBOT on news that ABARE has cut it's estimate for Australian wheat production to 15.5mmt. Latest: feed wheat +GBP1.50; Milling wheat +EUR1.25-2.25; Rapeseed +EUR2.5-0.25; Corn +EUR4.50. http://www.btinternet.com/~davenorris/blank1.htm 18 Sep 10:20:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Agtrader)--e-CBOT wheat again leads the way with a sharply higher move Tuesday morning after ABARE slashed it's 2007 crop production estimate 7mmt from it's June figure. Latest: wheat Dec +14 1/4c, Mar +11 1/4c; Soybeans Nov +7 1/2c, Jan +8 1/4c; Soymeal Oct +1.90, Dec +2.90; Corn Dec +1/4c, Mar +1/4c. http://www.btinternet.com/~davenorris/blank2.htm 18 Sep 10:11:00 GMT http://www.btinternet.com/~davenorris/blank.htm CHICAGO (Dow Jones)--Soybean crop conditions were left unchanged in last night's USDA Crop Progress report with 56 percent of the crop rated good/excellent. Harvest is estimated at 4 percent complete, compared with 5 percent a year ago. The corn harvest is seen as 14 percent done compared with 8 percent last week. http://www.btinternet.com/~davenorris/blank7.htm 18 Sep 09:00:00 GMT http://www.btinternet.com/~davenorris/blank.htm CANBERRA (Bloomberg) -- Wheat futures gained after Australia slashed its harvest forecast 31 percent because of dry weather, rising for a third day as importers lined up to buy the grain and global inventories head for a 26-year low. Output may be 15.5 million metric tons in the harvest starting October, the Canberra-based Australian Bureau of Agricultural and Resource Economics said today in a statement. That compares with the agency's June estimate of 22.5 million tons and last year's crop of 9.8 million tons. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista6.htm 18 Sep 2007 08:40:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista6.htm OMAHA (DTN) -- More dryness in Australia's wheat areas, continued beneficial showers in Argentina's wheat country, and the prospect for harvest-delaying rain in the U.S. Western Corn Belt during this week are the main weather features to occupy traders' thinking in the week ahead. Of the top weather items, the most significant is the ongoing dry weather in Australia. Only a few light showers were observed over western portions of West Australia and over southeast Victoria Friday and Saturday. Every other wheat production area had more dry weather. What's more, very little moisture is in store for Australia this week as well. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista9.htm 17 Sep 2007 14:05:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista9.htm LONDON (Bloomberg) -- Soybean futures in Chicago jumped to a three-year high, rallying for a seventh day, on concern freezing weather will damage crops. Wheat futures also rose. Temperatures as low as 28 degrees Fahrenheit (minus 2.8 degrees Celsius) were reported in northern Iowa and southern Minnesota on Sept. 15, data from the National Weather Service show. The freezing temperatures are as much as three weeks early in parts of the Midwest. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista1.htm 17 Sep 2007 11:36:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista1.htm LONDON (Times Online) A third case of foot-and-mouth disease was identified by government vets yesterday. News of the case, which the Department for Environment, Food and Rural Affairs (Defra) has not yet confirmed, coincides with today’s official EU inspection of the Government’s handling of the outbreak. Click headline for story in full.... http://www.timesonline.co.uk/tol/news/uk/science/article2469192.ece 14 Sep 11:30:00 GMT http://www.timesonline.co.uk/tol/news/uk/science/article2469192.ece LONDON (Reuters) - Britain's largest mortgage lender, Halifax, has it will be increasing some of its mortgage rates in the wake of a global credit crunch. The lender -- which accounts for a fifth of the UK mortgage market -- said it would raise the rates on around 20 of its tracker mortgages by 10 to 20 basis points from Friday. The move, which applies to new borrowers only, follows similar announcements by rival lenders. 'Like anyone else, we can't buck the market,' a Halifax spokesman said. http://www.btinternet.com/~davenorris/blank6.htm 14 Sep 12:20:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (FWi)--The UK’s largest egg packer has warned of egg shortages this Christmas unless farmers receive a further price rise. Noble Foods says the crisis for the UK’s egg farmers is deepening daily as price pressure continues to cripple them with the increasing cost of feed for laying hens. Half of the cost of keeping hens is the cost of wheat and Soya contained within the feed. Wheat has gone up in price by over 60% in the last two months and has more than doubled in price during the year. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista3.htm 14 Sep 2007 09:34:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista3.htm LONDON (Agtrader)--Dairy Farmers of Britain (DFB) and supermarket giant Tesco have announced a September price increase of 5.5ppl for DFB members who supplied the milk used by the retailer for its Localchoice brand. In a joint statement, the farmer-owned dairy company and Tesco said that the increase, to be paid from September 9, took the Localchoice price to 28.5ppl and that it would be paid on all the litres that were processed into the Localchoice brand. http://www.btinternet.com/~davenorris/blank20.htm 14 Sep 2007 09:25:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Agtrader)--Japan has bought 155,000mt of wheat in a tender concluded Thursday including 95,000 tons from the U.S, for delivery Oct. 1-Nov. 15. The rest of the wheat came from Australia and Canada. http://www.btinternet.com/~davenorris/blank8.htm 13 Sep 14:36:00 GMT http://www.btinternet.com/~davenorris/blank.htm CHICAGO (Dow Jones)--Nothing has happened to change the bullish fundamentals of the wheat market analysts say. Weekly US export sales for the week ended Sep. 6 were a marketing year and all-time high, despite record high prices, traders said. Sales of 2.13 million metric tons were far above analysts' expectations of 1-1.45 million and seen as highly bullish, traders said. Top buyers included Egypt, which took 413,800 tons; unknown destinations, which bought 350,800 tons; and Iraq, which bought 200,000 tons. http://www.btinternet.com/~davenorris/blank19.htm 13 Sep 2007 14:35:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Dow Jones)--Investment in the U.S. biofuel industry shows no sign of abating, professional services firm Ernst & Young said Thursday in it's quarterly biofuels report. The U.S. has the fastest expanding biofuels market as a result of strong investor appetite, followed by Brazil, according to Ernst & Young. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista5.htm 13 Sep 2007 13:58:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista5.htm LONDON (Dow Jones) -- The European Commission today proposed to set at 0% the obligatory set-aside rate for autumn 2007 and spring 2008 sowings, in response to the increasingly tight situation on the cereals market. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista10.htm 13 Sep 2007 13:38:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista10.htm CHICAGO (Dow Jones)--Strategie Grains Thursday revised up its forecast for the European Union's 2007-08 wheat crop, but this was offset by a reduction in its corn production estimate. Strategie Grains has kept its 2007-08 E.U. cereal crop forecast unchanged on the month at 257 million metric tons. But due to this season's adverse weather this represents a drop of 4.5 million tons, or 2%, on the year. Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista2.htm 13 Sep 2007 13:29:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista2.htm LONDON (Agtrader)--Lots of interest around today on rapemeal. Nov07/Apr08 Humber rapemeal traded GBP146.00, GBP147.00 and GBP148.00, with Erith rapemeal done for the same position at GBP142.00 and GBP142.50 buyers over. http://www.btinternet.com/~davenorris/blank3.htm 13 Sep 2007 12:10:00 http://www.btinternet.com/~davenorris/blank.htm LONDON (Bloomberg)--For the second day in a row the dollar fell to an all-time low Thursday versus the euro on speculation signs of slowing U.S. economic growth will prompt the Federal Reserve to cut interest rates next week, narrowing the rate advantage over Europe. The dollar traded at $1.3905 per euro at 11:05 a.m. in London from $1.3904 late in New York yesterday. Earlier it touched a record low of $1.3927. http://www.btinternet.com/~davenorris/blank14.htm 13 Sep 11:06:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Reuters)--The euro rose to a six-month high versus sterling on Thursday, bolstered by the single currency's broad strength and by expectations that euro zone rates may rise further this year while UK ones stay on hold. By 0845 GMT the euro had risen as high as 68.60 pence, its strongest since March. Soft UK housing data on Thursday and comments from Bank of England Governor Mervyn King the previous day have cemented expectations that UK interest rates have peaked. http://www.btinternet.com/~davenorris/blank18.htm 13 Sep 08:52:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Agtrader)--Egypt, the world's second-biggest importer of wheat behind Brazil, Wednesday bought 27,000 metric tons of the grain after saying Tuesday it sought at least 55,000 tons. http://www.btinternet.com/~davenorris/blank8.htm 13 Sep 07:22:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (BBC)--A new case of foot-and-mouth disease has been confirmed in Surrey, government sources have told the BBC. A 10km (6.2 mile) control zone centred on the affected farm near Egham has been put in place, and cattle from the herd are being culled. The latest outbreak comes just days after the government declared Surrey to be foot-and-mouth free. Click headline for story in full.... http://news.bbc.co.uk/1/hi/uk/6990913.stm 12 Sep 2007 14:26:00 GMT http://news.bbc.co.uk/1/hi/uk/6990913.stm LONDON (Agtrader)--U.S. 2007/08 wheat ending stocks are projected at 362 million bushels, down 42 million bushels from last month reflecting lower imports and increased use. If realized, this year’s carryout would be the lowest since 1973/74. Imports are lowered 15 million bushels as production for Canada is lowered. Feed and residual use is projected 10 million bushels lower as higher prices limit feeding and tight supplies draw lower quality wheat into mil Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista6.htm 12 Sep 2007 14:06:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/specialvista6.htm LONDON (Agtrader)--Corn production pegged at 13.308 billion vs an average trade guess of 13.128 billion bushels. Yield pegged at 155.8bu/acre vs an average trade guess of 153.7bu/acre and 07/08 end stocks pegged at 1.7 billion bu vs an average trade guess of 1.5 billion. http://www.btinternet.com/~davenorris/blank15.htm 12 Sep 14:05:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Agtrader)--Soybean production pegged at 2.619 billion vs an average trade guess of 2.650 billion bushels. Yield pegged at 41.4bu/acre vs an average trade guess of 41.9bu/acre and 07/08 end stocks pegged at 215m bu vs an average trade guess of 217m. http://www.btinternet.com/~davenorris/blank15.htm 12 Sep 14:00:00 GMT http://www.btinternet.com/~davenorris/blank.htm CANBERRA (Dow Jones) -- Wheat growers' hopes of La Nina-fueled rains in coming days/weeks could be dashed by bizarre emergence of vast cool sea area north/northwest of Australia inhibiting northwest cloudband formation, a major source of spring rain for central/southeast Australia during La Nina years, reports government's Bureau of Meteorology. 'There's no reason to expect a bumper finish' to crops, bureau climatologist David Jones tells Dow Jones Newswires. Analysts unsure about Australian wheat output this year, now seeing range of 12 million to 19 million tons, well down from official June forecast of 22.5 million tons. Bureau's sea/cloudband/rainfall action analysis likely supportive of current high global wheat prices. http://www.btinternet.com/~davenorris/blank13.htm 12 Sep 12:16:00 GMT http://www.btinternet.com/~davenorris/blank.htm LONDON (Agtrader)--Egypt, the world's second-biggest wheat importer, plans to buy at least 55,000 tons of hard wheat in a tender today for delivery in October. Japan seeks to buy 155,000 tons of wheat tomorrow at a tender, comprising 95,000 tons from the U.S., 20,000 from Canada and 40,000 from Australia. Meanwile the Grain Board of Iraq plans to buy at least 50,000 tons of wheat from any origin at a tender this month. Jordan is seeking to buy at least 200,000 tons of wheat at international tenders for delivery by Dec 1. http://www.btinternet.com/~davenorris/blank9.htm 12 Sep 2007 09:49:00 GMT http://www.btinternet.com/~davenorris/blank.htm CHICAGO (Dow Jones)--In it's weekly crop condition report released after the close Monday the USDA left soybeans unchanged at 56 percent good/excellent. The best ratings are in Nebraska at 81% good/excellent, whilst the poorest are in Tennessee at just 7 percent good/excellent. http://www.btinternet.com/~davenorris/blank4.htm 11 Sep 07:34:00 GMT http://www.btinternet.com/~davenorris/blank.htm Click headline for story in full.... http://www.btinternet.com/~davenorris/tradesite/vistas/arrivalsvista.htm 05 Sep 2007 16:33:00 GMT http://www.btinternet.com/~davenorris/tradesite/vistas/arrivalsvista.htm LONDON (Agtrader)--There is increased trade talk that Australia's wheat crop may not be much bigger than it was last year, when a severe drought slashed production in half. The most conservative production estimate Tuesday was from Australian wheat grower Bruce Estens, who pegged the country's 2007 crop at 10 million tons, about the same as last year, if dry areas don't see heavy rains this month. Estens operates a contract harvesting business and farms at Walgett in northern New South Wales. Ron Greentree, Australia's biggest wheat grower who also farms in northern New South Wales, was reported as saying he expects new crop wheat production to be at least 7 million tons below an official forecast of 22.5 million tons, reflecting the impact of dry weather in key growing areas. http://www.btinternet.com/~davenorris/blank4.htm 05 Sep 10:54:00 GMT http://www.btinternet.com/~davenorris/blank.htm