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Futures Close Report 27th March 2018

Argentine soybean workers at crushing plants serving the port of Rosario are to begin a strike for better pay.  Other export hubs will be unaffected as workers are affiliated to different unions.  Disruption in export flows could be seen if it carries on for an extended time.

Chinese importers are increasing their purchasing of Brazilian soybeans as a hedge against any developing trade dispute with the USA; Brazil premiums are thus increasing.  Farmers in Brazil are also holding onto stocks in anticipation of better prices, which is also helping inflate the situation.

Agroconsult raised their forecast for Brasil Soybean harvest to 118.9 million tonnes up from previous 117.5 million tonnes.

US wheat weather forecast seen as improving with showers forecast across wheat areas that are in need of soil moisture.