Futures Close Report 30th October

USDA Crop progress

• US corn 63 % harvested up from 49% last week in line with 5 year average;
• US soybeans 72% harvested up from 53% last week slightly behind the 81% 5 year average;
• US winter wheat is 78% planted up from 72% last week but behind the 85% 5 year average.

China is likely to buy a wider range of processed vegetable oils and animal feed meals on global markets in the coming weeks as the U.S./China trade war continues to reduce supplies of soybeans for China’s oilseeds processing industry according to comments made by Oil World –(Hamburg based industry analysts).