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Futures Close Report 14th May 19

German Wheat crop estimate up nearly 20% year on year to 24.28 million tonne as crop production recovers from last years drought conditions.  However German OSR production forecast down by circa 17% to 3m tonnes.  on lower plantings.

IEG Vantage forecast U.S. 2019 corn plantings at 90.692 million acres, this is below USDA forecast for 92.8 million acres,  for US Soybeans forecast was seen at 86.43 million acres,  above the USDA forecast for 84.6 million acres. US Farmers being affected by weather delays in their planting (slowest since 2013) and are thus seen switching intentions from Corn to Soybeans as the latter has a later planting window.