Futures Close Report: 14th December 2017

Arg farmers reported to have planted 1.1 million Ha of Soybeans over the last seven days taking total area planted to 18.1 million hectares – 6.6 million hectares remain to be planted with improving weather forecasts according to the Buenos Aires grains exchange.  Dryness has also held back 2017/18 corn planting.  Farmers had planted 45.3 percent of the 5.4 million hectares estimated to be dedicated to corn as of Thursday.

UK domestic wheat markets remain range-bound with limited trade being reported by merchants, focus remains on nearby logistical pressure owing to low availability of bulk haulage vehicles.  Farmers not engaged at current ex farm price levels.