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Futures Close Report 20th March 2019

Flooding in US states is increasing the risk of planting delays for US crops, thus seen as supportive to markets – US spring planting typically begins in April for wheat crops.   Heavy flooding is also seen as destroying stored crops particularly corn and soybeans which have been stored on farm in record quantities as the China / US trade dispute impacted US exports.

Ukraine’s grain exports have reached 35.6 million tonnes so far in the 2018/19 season compared with 29.5 million tonnes at the same point last season, according to their Ag ministry.