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Futures Close Report 21st Feb 2018

Latest figures from Buenos Aires Grains Exchange have made brisk cuts to Arg production of both soybeans and corn. The soy crop was revised down to 46.5 million tonnes from 52 million tonnes previously while the expected corn crop was cut to 35 million tonnes from 40 million tonnes previously.  Weather forecasts continue to indicate little change from previous conditions, with growing concerns for a worsening situation.

UK Domestic wheat prices continue to be range-bound.  Weather conditions across much of the UK are still too wet to allow much progress on spring planting as yet.