Futures Close Report: 14th August 2017

Brazilian soybean exports so far this year have exceeded volumes for the full year of 2016, according to preliminary data from the Development Ministry.  Up until the second week of August, Brazil, the world’s largest exporter of the oilseeds, had sold 53.37 million tonnes, almost 3.5% above exports for the whole of last year.  2015 saw the previous export record at 54.3 million tonnes.  Analysts currently forecast Brazil to export 64 million tonnes this year.

US Crop Conditions:

• Soybeans 59% good / excellent down from 60% last week (72% last year);
• Corn 62% good / excellent up from 60% last week (74% last year);

Spring wheat reported 40% harvested up from 24% last week behind 35% five year average.