UkrAgroConsult said the percentage of Ukraine winter grain crops in good condition totalled 49.6%, compared with 38.3% at the same date in 2017. Overall grain harvest for 17/18 was forecast 2% down year on year at 61.1 million tonnes owing to the smaller wheat crop.
Concerns for Dry US Conditions pushed wheat to a 6 month high on CBOT as potential lower production numbers are speculated. Funds continue to reduce short positions as a result. EU Markets looking to follow but continue to be held back by lacklustre demand on global export markets.