Capesize

17950

Sep-17
0.00 0.00%

Panamax

11175

Sep-17
225.00 2.05%

Iron Ore

76.5

Sep-17
0.85 1.12%

Sing 380

278.25

Oct-17

Coking Coal

208

Sep-17
0.00 0.00%

Nola Urea

212.5

Sep-17
0.00 0.00%

FIS Technical – Grains And Ferts


US farmers took advantage of a dry planting window to take acreages back to 5 year averages. This should ease some concerns amongst nitrogen traders, as will the latest USDA total acreage estimate which held around 90 million. Grain markets remain stuck in recent ranges. The overall fund grain short position remains historically high despite some liquidation in CME wheat. This fund short combined with the usual growing season weather risk should make bears cautious in the coming months at these low levels but the recent wheat action may indicate that this marginal weather risk holds only limited upside potential in a fundamentally oversupplied grain world. Though still technically bearish, urea markets are suggesting sellers should be cautious if prices fail to break below nearby support levels.

grains 16-5-17

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