Terms & Conditions Of Use

Your access to and use of www.grainlink.co.uk (the 'web site') are subject exclusively and strictly to these Terms & Conditions of Use. These Terms & Conditions of Use are a legal agreement between us and describe the terms and conditions applicable to your use of our web site and the services we offer.

grainlink.co.uk rights

grainlink.co.uk ("we/us") reserve the rights to:

  • Change or remove (temporarily or permanently) the web site (or any part of it) without notice to you and you confirm that we shall not be liable to you for any such change or removal; and/or
  • Change these Terms & Conditions of Use at any time, and your continued use of the web site following any change shall be deemed to be your acceptance of such change. It is your responsibility to check the Terms & Conditions of Use regularly for changes. If you do not agree with any change to the Terms & Conditions of Use you must immediately stop using the web site.

Intellectual Property

You acknowledge and agree that all copyright, trade marks and all other intellectual property rights in all material on the web site, the web site design, structure and graphics and all software and source codes connected with the web site shall remain at all times vested in us or our licensors. You are permitted to use this material only as expressly authorised by us.

You acknowledge and agree that the material contained within the web site is made available for your personal non-commercial use only. You may only access, view, copy and/or print pages from the web site for the sole purpose of you evaluating whether to and/or placing an order with us. Any other use of the material within the web site is strictly prohibited.

All content included on this web site (including, without limitation, our trade marks, logos, graphics, text, photos, designs, logos, icons, images, data and software) is our property, or belongs to our affiliates and/or licensors, and as such is protected by international and UK copyright and other intellectual property laws.

Links to other web sites

No mention of any organisation, company or individual, whether on these pages or on other web sites to which these pages are linked shall imply any approval or warranty by us as to the standing and capability of such organisations, companies or individuals.

  • We take no responsibility for anything that might occur when you visit any other web site.
  • When you click on a link you will leave this web site.
  • We provide links to third parties only as a convenience to you.

Product Information

All images, photographs, descriptive matter, specifications and advertising on this web site are published for the sole purpose of giving an approximate idea of the goods and services available. They will not form part of any contract with you and no warranty or guarantee shall be expressed or implied in any contract with you to purchase any of the goods or services advertised or published on our web site.

Any prices displayed on this web site are in UK sterling, and are only valid and effective in the UK. The prices [exclude/include] VAT at 20%, and are subject to change if the applicable rate of VAT changes before your order is accepted.

Goods and Services

If we provide any goods and/or services to you outside of the European Union you will be responsible for paying any local sales tax and/or import duties arising at the delivery destination, which are not included in the price of the products.


Where there is a delay or likelihood of delay in the supply of any goods or services, we will advise you as soon as practicable. If the goods or services cannot be delivered within [30] days of your order, we will notify you of this delay and you may either cancel your order or agree a further delivery time with us.

Any orders you place with us will only be accepted and a contract formed once we have received payment in cleared funds. We will confirm our acceptance of your order on receipt of cleared funds by email (where a valid email address is provided).

We reserve the right at all times and at our sole discretion to refuse to accept any orders.

Your Warranties

You warrant, represent and undertake that:

  • You will use the Web site only in accordance with these Terms & Conditions of Use and only for lawful purposes and in a lawful manner; and
  • All information which you provide to us is true, accurate, current and complete in all respects and that you will notify us immediately of any changes to such information. You can e-mail any changes in your details to us at info@grainlink.co.uk

Limitation Of Liability

The Web site and its contents are provided to you on an "as is" and "as available" basis without any representation, term, condition or warranty being given in relation to the Web site and its contents including (but not limited to) implied warranties of non-infringement, compatibility, security, accuracy or any implied warranty arising from course of dealing or usage or trade.

In addition, we exclude any representation or warranty that the information and/or facilities accessible via this web site are accurate, complete or current, or that this web site will be free of defects including, but not limited to, viruses or other harmful elements.

You assume all costs and risks arising as a result of its use of this web site.

We make no warranty that the Web site will meet your requirements or will be uninterrupted, timely, or error-free orthat defects will be corrected.

We will not be responsible or liable to you for any loss of material uploaded or transmitted through the Web site and have no liability of any sort (including for negligence) for the acts or omissions of other providers of telecommunications services or for faults in or failures of their networks and equipment.

We will not be liable in contract, tort, negligence, for pre-contract or other representations (other than fraudulent or negligent representations) or otherwise out of or in connection with these Terms & Conditions of Use for: any economic loss (including without limitation loss of revenues, profits, contracts, business, anticipated savings, goodwill or reputation); or any special, consequential or indirect losses (however arising, including negligence) arising out of or in connection with your use of this web site.

Nothing in these Terms & Conditions of Use shall exclude or limit our liability for death or personal injury resulting from our negligence or that of our servants, agents or employees.

Indemnity

You agree to fully indemnify, defend and hold us, and our officers, directors, employees, agents and suppliers, harmless immediately on demand, from and against all claims, liability, damages, losses, costs and expenses, including legal fees, arising out of any breach of these Terms & Conditions of Use by you or other liabilities arising out of your use of the Web site including your violation of any law or rights of a third party.

Severance

Each provision of these Terms & Conditions of Use shall be construed separately and independently of each other and the validity of any one part shall not affect the validity of any other part.
Law

These Terms & Conditions of Use shall be governed by the laws of England and you agree to submit to the exclusive jurisdiction of the English court.

The laws of your country may be different from English law and there may be additional legal requirements for you to use our web site or services. You must comply with all applicable local and international laws, statutes, ordinances and regulations regarding your use of our web site and services and it is your responsibility to ensure that your use of our web site and services is legal.

Latest Market Reports

CBOT Market Report

W/e 10/02/17 -- Soycomplex: Beans closed higher on the day and for the week. The market was buoyed Friday by the announcement of 140 TMT worth of US soybeans sold to unknown for 2016/17 shipment. In their latest WASDE report the USDA were unchanged on their outlook for Brazilian soybean production this year (104 MMT), but lowered Argentina by 1.5 MMT to 55.5 MMT. They also reported US soybean export commitments so far this season at 51 MMT, a 21% increase year-on-year. This is also only 4.8 MMT away from it's current forecast for full season exports of 55.8 MMT. In other news China reported that they'd imported 7.66 MMT of soybeans in January, 35% more than last year. In Brazil, IMEA reported the soybean harvest 45.8% complete in Mato Grosso, versus only 25.6% done at this time last year. Mar 17 Soybeans settled at $10.59, up 8 1/2 cents; May 17 Soybeans settled at $10.70, up 8 1/2 cents; Mar 17 Soybean Meal settled at $342.10, up $3.70; Mar 17 Soybean Oil settled at 34.61, down 06 points. Mar 17 beans were up 32 cents compared with last Friday.

Corn: The market closed higher on the day and versus last Friday. In Chicago the Mar 17 contract closed at the best levels on a front month since late June 2016. The USDA this week raised their estimate for the size of the global 2016/17 crop by more than 2 MMT to 1040 MMT. However they also upped consumption by 6 MMT and cut carryout by 2.5 MMT. Chinese corn usage was projected 4 MMT larger, mostly from increased feed usage. The USDA also reduced the size of this season's EU-28 corn crop, marking that down to 60.3 MMT, with ending stocks cut to 4.75 MMT, the lowest level since 2007. Record corn production for 2016/17 reflected larger crops in both Ukraine and Mexico more than offsetting lower production in the EU, they said. "Robust demand in both Iran and Vietnam support a higher volume of global exports. Moreover, a smaller barley crop in Iran boosts the demand for (other) imported feedstuffs," they added. Mar 17 Corn settled at $3.74 1/2, up 5 cents; May 17 Corn settled at $3.82, up 4 3/4 cents. For the week that puts Mar 17 corn up 9 1/4 cents.

Wheat: The wheat market closed higher, with Mar 17 CBOT Wheat settling at $4.49, up 5 1/2 cents; Mar 17 KCBT Wheat ending at $4.60 1/2, up 9 1/4 cents and Mar 17 MGEX Wheat finishing the day at $5.72 1/2, up 4 cents. For the week that puts nearby Chicago wheat up 18 3/4 cents, with the Kansas market 20 cents higher and Minneapolis up 14/14 cents. For Chicago wheat this was a more than 7-month closing high for a nearby contract. In their February WASDE report the USDA said that "prices for most wheat classes were up during the month of January, underpinned by 2017/18 US crop prospects as well as a weakening dollar." They also noted that "the growing gap between HRS and most other wheat classes is indicative of tight supplies of high-protein wheat in the global market." US 2016/17 wheat exports were raised 1.5 MMT to 27.5 MMT, whilst Russia's were lowered 0.5 MMT to 28.5 MMT. World ending stocks were lowered from 253.3 MMT to 248.6 MMT.

EU Market Report

W/e 24/02/17 -- EU grains closed the week with Mar 17 London wheat down GBP3.20/tonne from last Friday at GBP143.50/tonne, Mar 17 Paris wheat was unchanged on the week at EUR171.50/tonne, Mar 17 Paris corn was also unchanged on the week at EUR171.25/tonne and May 17 Paris rapeseed ended the week EUR13.00/tonne lower at EUR410.25/tonne.

A firmer sterling outlook, and the knowledge that UK feed wheat prices are already among the most expensive in the world, leans bearish for London wheat.

Paris wheat meanwhile remains in a sideways to modestly upwards trend helped by euro weakness which is fostering ideas that exports from other nations than France (such as Germany) will be more buoyant in the second half of the season than the market had been expecting.

EU soft wheat exports have certainly looked like they are slowing up this past couple of weeks though. Cumulative exports to date stand at 15.76 MMT, up by only around 81 TMT on a week ago, a net downturn of 11% from 17.642 MT at the same point in 2015/16. EU total all wheat exports for the full season are estimated by the USDA to decline 26.5%, so a second half downturn is certainly to be expected.

Trade attention is also starting to focus on 2017/18. According to the February issue of the JRC MARS crop monitoring bulletin for Europe, this winter is finishing with no major constraints to winter crops.

"Rain would be welcomed in large parts of southern Germany, southern Sweden, the Czech Republic and the Baltic countries, to restore soil water reserves and groundwater as spring approaches," they say.

"These regions have recorded a persistent rain deficit, with less than 10 mm of precipitation during the analysis period. Nevertheless, these dry conditions generally do not present an immediate concern for crops," they note.

"Frost-kill damage remains limited despite a persistent cold spell throughout January in central and eastern Europe, which has led to minimum temperatures of around -15°C, and reaching values below -20°C in many areas," they add.

Ukraine exported 28.65 MMT of grains in 2016/17 to February 22, report UkrAgroConsult. This volume included 13.33 MMT of wheat, 10.53 MMT of corn and 4.64 MMT of barley.

Egypt's GASC said that they'd signed an agreement to import 360,000 MT of Russian and Ukrainian wheat for Mar 21 - Apr 1 shipment. The cheapest Russian price reported was $196.50/tonne FOB versus $195.90 FOB for the Ukraine origin material.

The IGC were unchanged on their global 2016/17 wheat production forecast from a month ago at 752 MMT. They did however up corn output again, this time by 4 MMT to 1049 MMT.

"Conditions for 2017/18 winter crops in the northern hemisphere remained mostly favourable. Only a small fall in all-wheat harvested area is anticipated, but with a projected drop in average yields, the next world harvest is seen retreating by 2% y/y (year-on-year)," they added.

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