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Futures Close Report 12/05/21


  • US corn ending stocks slightly above market estimates, helping temper prices – whilst soybean end stocks were broadly in line with trade expectations.
  • Brazil corn crop forecast lowered to 102 million tonnes from previous 109 million tonnes, (Brazils Conab put this figure at 106.4 million tonnes in their latest estimate).
  • Projected increase of 4.5% in corn use for US ethanol production to meet new US green fuels blending targets.


French cereal stocks – quoted at multi year lows by France Agrimer.

  • Maize end stocks at 1.9 million tonnes down from April forecast of 2mt and the lowest since 2006/7 season.
  • Wheat end stocks seen at 2.6 million tonnes down from 2.7 million tonnes seen last month.