Futures Close 10/06/22
1 point reduction in French wheat quality ratings with 66% reported good / excellent versus 67% seen last week. Wheat crop quality being impacted by the dry Spring.
Rosario grains exchange reduced their forecast for Argentina wheat production by 500k tonnes to 18.5 million tonnes due to reduced plantings as farmers experience dry conditions particularly in the north of the country. Circa 17% of estimated area planted to date.