Futures Close Report 12/07/21

USDA – crop ratings

• 65% US corn rated good / excellent up one point from last week.
• Soybean crops unchanged at 59% good / excellent.
• Spring wheat crops continue to suffer amid drought conditions with the smallest (spring wheat) crop for circa 33 years however larger winter wheat crop is helping to offset the losses, but overall looking at smallest US wheat crops for circa 8 years.