Futures Close Report 13th Feb 2018

FranceAgrimer lowered expectations for French soft wheat production for 2017 crop year following final acreage adjustments – 2017 crop is now put at 36.6 million tonnes, down from 37.0 million in December and well below the 37.9 million the ministry saw in October in its highest estimate of last year’s harvest.  For 2018 harvest winter wheat area was cut to 4.96 million Ha from 5.03 million Ha, whilst OSR area was also cut from 1.55m Ha to 1.5 million Ha.

UK Domestic wheat is still relatively rangebound although premiums remain firm as grain travels further afield from its production areas.