Futures Close Report: 21st July 2017

UK starting to see harvest delays owing to the wet weather conditions seen across the weekend.  French farmers were reported to have harvested 63% of their soft wheat well up on the 29% from a week earlier – crop conditions were reported unchanged on the week.

US weather – rain forecast across the Midwest this week which have helped ease markets – US corn values were seen at a 2 week low on overnight trade.

China imported 380k tonnes of Corn in June. – Chinese corn prices rallied in June as the nation’s agriculture ministry slashed its corn output forecast to the lowest in four years after droughts in some areas damaged young crops and forced some farmers to switch to other crops.