Futures Close Report: 18th July 2017

Egypt purchased Russian / Romanian and French wheat in its latest tender as US supplies remain uncompetitive.

Overnight storms across the UK potentially delaying the commencement of wheat harvest in places  – markets will debate their impact to UK crop / quality.  Some early wheats have already been cut in the south, but overall far too early to gauge the national quality position.

In Canada’s two biggest wheat-producing provinces, Saskatchewan and Alberta, development of spring wheat is behind last year’s pace, according to provincial governments. Much of Saskatchewan’s crop belt has received less than 40% of normal precipitation in the past 30 days as of Sunday, according to Agriculture and Agri-Food Canada.