Futures Close Report: 27th June 2017

Market fixation on weather continues.  The end of this week (30th June) will also see publication of the USDA Quarterly grain stocks and planting acreage reports.  Market analysts seem to be expecting to see a slight increase in US Corn plantings and a small reduction in Soybean plantings.

Strategie Grains reduced their forecast for French soft wheat to 35.6 million tonnes down 1.16 million tonnes from their mid June estimate.  The EU’s crop-monitoring service, MARS, on Monday also said continued heat was expected to impact French yields, notably the grain-filling of winter cereals such as soft wheat. It forecast a soft wheat yield at 6.77 tonnes per hectare (t/ha), down 4.2% on the five-year average. This compares to a yield of 6.88 t/ha in Strategie Grains’ latest estimate.