Futures Close Report 27th April

US planting – corn 27% complete and soybeans 8% complete.

EU crop monitoring service MARS –  forecast for EU wheat yield at 5.87t / ha down from the initial 5.88t/ha seen last month, due to the impact of the dry spring on crop conditions and emergence of spring sown crops.

Maize was seen at an average yield of 8.04t/ha circa 6% above the 5 year average.  Rapeseed was seen at 3.14t/ha up from 5.6% on last year.

Ukraine has no plans to limit corn (maize) exports this year according to comments made by the Ag minister.  Global Markets for corn continue to be under pressure due to poor ethanol demand amid the falling oil prices.