Futures Close Report: 14th July 2017

Improving US Weather forecast keeping pressure on US Wheat  however dry conditions still present across the US Plains which could damage yield – fund activity remains firm with last week seeing the largest ever round of short covering across all CBOT contracts for Corn / Wheat / Soybeans.

AHDB survey put UK Wheat area down by 3% at 1.76 million hectares, as farmers struggle to control blackgrass.  The survey also estimated that the rapeseed area had fallen 4% to 553,000 hectares although for that crop the data only covered England and Scotland.