Futures Close Report: 12th June 17

US Crop conditions reported by USDA:

• US Soybeans 66% good / excellent  slightly below forecasts for 70%;
• US Corn 67% good / excellent in line with expectations;
• Spring Wheats were well below expectations at 45% good / excellent vs 53% forecast  which brought some support back into the market.

France’s farm ministry on Tuesday forecast the country’s 2017 winter rapeseed production at 4.77 million tonnes, up nearly 1% from last year’s crop. In its first production estimates for this year’s harvest, the ministry also forecast a winter barley crop of 9.34 million tonnes, up 14% from 2016.