Futures Close Report: 11th Sept 2017

Some comments seen with predictions for delayed Brazil soybean plantings which appears to be a developing situation worth watching – poor levels of rainfall in key production areas amounting to some 50% of annual production.  Extended forecasts by Somar Meteorologia predict isolated rains over the South and Center-West regions of Brazil only in the last 10 days of September, a month when rainfall will be below the historical average in much of Brazil.

USDA condition:

• US Corn reported 5% harvested vs 6% 5 year average  – condition was 61% good / excellent unchanged from last week;
• US Soybean 60% good /excellent down from 61% last week.