Futures Close Report: 16th August 2017

Egypt made purchases of 295k tonnes of Russian Wheat along with 60k tonnes of Ukrainian origin in its latest tender.  No U.S. wheat was offered in the tender, indicating Black Sea cargoes are cheaper than what is being priced in the United States

Argentina’s corn planted area for the 2017-18 crop cycle is forecast at a record-high of 5.4 million hectares (13.3 million acres), up from 5.1 million last season, according to figures released by Buenos Aires Grains Exchange.Indian farmers harvested a record 98.38 million tonnes of wheat in the crop year to June, up from 97.44 million tonnes estimated in May, data released by farm ministry showed on Wednesday. India is the second biggest grower of staple grain in the world.