Futures Close Report 10th June

US Planting Progress –

• US Corn 83% planted  up from 67% last week – (99% 5 year average)
• US Soybeans 50% planted up from 39% last week – (88% 5 year average.

Corn quality ratings are down year on year which is seen as supportive to prices,  but good progress has been made on plantings during the last week, albeit later than normal.

France is expected to harvest 3.8 million tonnes of winter rapeseed this year, down 22% from 2018 and more than 25% below the average of the past five years.  The production was based on a forecast yield of 2.94 tonnes per hectare (t/ha), down from 3.06 t/ha last year and the lowest since 2007, along with an area of 1.31 million hectares, down from 1.61 million in 2018.