Futures Close Report 11th Feb 2019

Agrural estimate for Brazil soy production for 18/19 now put at 112.5 million tonnes (a reduction of 4.5 million tonnes from their previous forecast), owing to hot and dry conditions in key production areas.  This would represent the smallest harvest in some 3 years if realised.  Currently harvest pace for Brazil is ahead of the norm with circa 25% planted area already harvested.