Futures Close Report: 17th November 2017

European Union soft wheat exports in the 2017/18 season that started on July 1 had reached 7.5 million tonnes by 14 November, down 23% from 9.7 million tonnes exported by the same stage last season. By 15 November, Russia had exported 19.1 million tonnes of grain since the start of the season on 1 July, up 29.5% year-on-year.  Wheat exports were up 26% at 14.8 million tonnes.

Imea forecast Safrihna (second crop) Corn in Brazils Matto Grosso region as 35 million tonnes which is down circa 19% year on year.

Some markets are nervous about La Nina bringing hot/dry weather to Argentina, the world’s biggest soymeal exporter.