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Futures Close Report 17th October

Dry conditions reported to be detrimental to wheat yields in argentina – estimates range up to 40% yield loss in some of the production regions  latest forecast from BAGE puts wheat at 19.8 million tonnes down from previous estimates of 21 million tonnes.

Strategie grains increased forecast for EU wheat exports outside the EU for 19/20 to 27.3 million tonnes.  Based on a crop size for total EU of 145.5 million tonnes up from 127.1 million tonnes seen last season.