Futures Close Report: 27th October 2017

Consultancy Strategie Grains has raised its estimate slightly for the area sown with rapeseed in the European Union for the 2018 harvest. They put  EU rapeseed area for the 2018/19 harvest season at 6.71 million hectares, up from 6.64 million in its initial forecast a month ago and close to an estimated 6.74 million in the 2017/18 harvest.

Brazil soybean planting quoted at 30% complete – broadly in line with 5 year average pace but behind last years levels.  In Mato Grosso state, Brazil’s most important soy growing region, planting advanced to 43 percent of the area, roughly in line with a five-year average of 45 percent for the period but well below last year’s 68 percent level, when farmers enjoyed near-perfect weather.