Futures Close Report 1st June 2020

Markets confusion – Chinese rehetoric on ceasing US purchases of corn / soybeans not matching the physical reality as Chinese state importers continue to buy US soybeans – albeit at a limited pace given that Brazil is at the peak of their export season.

US planting progress – soybeans 75% planted – behind estimated, but ahead of the 68% 5 year average pace.  Corn reaching completion at 93% planted.