Futures Close Report 4th September

Heavy rainfall across US corn belt seen slowing the pace of crop maturity adding in support to the US markets particularly for corn (maize) but also for soybeans.

US Weekly crop progress reported as follows:

• US corn – 67% good / excellent condition down from 68% last week (61% at the same point last year);
• US soybean– 66% good / excellent condition unchanged from last week – (61% at the same point last year);
• US spring wheat harvest reported 87% complete up from 77% last week (75%  at the same point last year).