Futures Close Report: 13th November 2017
The Buenos Aires grains exchange estimates the 2017/18 soybean planting area in Argentina at 18.1 million hectares (44.7 million acres). Planting progress reported at 12% of that total – although weather that is too dry continues to create planting delays in the main agricultural areas. Forecasters are pointing to lower levels of rainfall in Arg in general over the forthcoming season driven by the La Nina weather pattern, which could be detrimental on yields for corn and soybeans
US Harvest Progress:
- US corn 83% complete up from 70% last week;
- US soybeans 93% harvested up from 90% last week;
- US winter wheat 95% planted with 54% reported in good / excellent condition ahead of winter dormancy.
