Futures Close 03/10/22
Strategie Grains increased their forecast for this year’s European Union rapeseed crop to 19.46 million tonnes up from 19.15 mt previously.
EU maize forecast reduced to 55.5mt – a 15 year low – due to drought conditions over the summer reducing the yield potential.
USDA quarterly stocks gave a bullish market view for grains with lower than expected inventories seen for corn. Wheat supplies were broadly in line with expectations but remain tight. Soybean stocks were seen up on expected levels.