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Futures Close Report 25th July

Markets remain volatile with wheat markets continuing to factor reduced availability due to drought conditions in key global export regions.  Yields in Russia, the world’s biggest exporter, are around a three-year low, according to agriculture consultancy SovEcon.  US Crop tour of Southern Spring Wheat reporting below average yields for North / South Dakota, (North Dakota is the largest producing state for Spring Wheat).  Final yield forecasts to be released on Thursday pm.