Futures Close Report 16th Jan 2019

ADM reported a mechanical issue which has halted soybean crushing at of its largest EU plants in Germany – this plant is a main source of soybean meal in Germany, extended production absence could affect market premiums for EU.

Brazil consultancy Celeres cut their soybean harvest forecast to 117.2 million tonnes for the season due to worse than expected growing conditions (drought) – Celeres also cut their forecast for Brazil’s first crop of corn for the year to 28 million tonnes – both of these figures are in line with other forecasters positions.