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Futures Close Report 12th July

US corn futures continue to set the pace.  As production fears for US continue to unsettle, with the possibility of dry conditions causing further damage.

Ukraine – forecaster ProAgro increased their harvest forecast for grain production from 71.3 million tonnes to 72.55 million tonnes – wheat production was seen at 27.4 million tonnes (up 2.9 miillion tonnes yoy) with corn at 34.5 million tonnes (down 1mt yoy).