Futures Close Report 18th December

China received further tarrif waivers on US soybeans which has facilitated further buying by China – albeit only 2 cargos Circa 120k tonnes reported.  U.S. soybeans are competitively priced through mid-January while Brazilian shipments are competitive thereafter, showing limited opportunity for US exports to get anywhere near their initial seasonal target.

Wheat planting in Germany reported down 7% year on year (to 2.83m Ha) due to inclement weather conditions, whilst OSR plantings have increased year on year by some 11% to 952k hectares.