Futures Close Report: 27th Sept 2017

European biodiesel producers are preparing to launch an anti-subsidy complaint against Argentine biodiesel imports, following a decision by the European Union last week to significantly lower the anti-dumping duties for the country.  The group of producers called for a fast-track imposition of high-level EU countervailing duties to prevent an influx of products from Argentina.  The Argentine biodiesel industry, which had been the main supplier to the EU, believes it will now be able to sell the product in Europe again at a time when the United States has just set its own measures to restrict imports.

Argentina Production – Buenos Aires Grains Exchange:

• 17/18 Soybean Production –forecast at 54 million tonnes, down from 57.5 million tonnes in 16/17./ Planting area seen at 18.1 million Hectares for 17/18  down from 19.2 million Ha in 16/17;
• 2017/18 corn crop was expected to climb to 41 million tonnes from 39 million in 2016/17.