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Futures Close Report 19th January 2018

Brazil soybean harvest off to a slow start in the largest producing state of Mato Grosso – estimates of progress so far are between 2% and 3% of planted area.  At the same point last year 11% was harvested – the 5 year average is around 7%.  Worth noting that this is representative of less than 1% of the total for Brazil.

US Soybean prices were supported as concerns over persistent dryness in Argentina continue to fuel speculation for harvest prospects in the world’s third-largest producer of the commodity.