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Futures Close Report 27th November 18

Ukraine’s 2018 grain harvest reached 68.2 million tonnes as of Nov. 27, exceeding the previous forecast of 68 million tonnes.  Ukraine’s Ag ministry said farmers had harvested 14.5 million hectares of grain with a yield of 4.7 tonnes per hectare.  The 2018 sown area totals 14.84 million hectares.  This broke down into 25.1 million tonnes of wheat and some 33 million tonnes of corn; balance being made up mainly of barley and niche grains.

Sovecon increased its forecast for Russia 18/19 grain exports to 43.2 million tonnes from previous number of 42.6 million tonnes.   Specific to wheat the forecast moved from 34.2 million tonnes to 34.7 million tonnes.