Futures Close Report: 11th August 2017

IKAR, raised its forecast for Russia’s 2017 wheat crop to of 77-80 million tonnes from a previous outlook of 74-77 million. The grain crop is now forecast at 127million tonnes. All key Russian grain-producing regions – Southern, Volga and Central – are expected to harvest a record wheat crop this year.

French soft wheat harvest was reported 97% complete last week.  79% of maize was seen in good / excellent condition according to FranceAgrimer.

Intermittent rain continues to hold up wheat harvest in UK / Northern Europe.  Concerns building with regard to milling quality of crops in Northern Germany which traditionally exports high protein wheat.  Harvest progress there seen at some 30% only.  Stop start harvesting where conditions permit looks set to continue with an intermittent forward weather forecast.