Futures Close Report 13th May 2020

China rhetoric still indicating their commitment to US / China phase one trade deal despite the slow pace of purchasing.  China’s soybean imports in 2019/20 are expected at 87.50 million tonnes of which 13.5 million tonnes is expected to be US in origin.

France Agrimer forecast for  French soft wheat exports outside the EU at a record 13.3 million tonnes.  Despite the increase in exports, stocks were seen up at 2.9 million tonnes from the previous 2.6 million tonnes. French 2019/20 grain maize ending stocks were cut to 2.2 million tonnes from 2.4 million tonnes last month.