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Futures Close Report 31st July

Brazil Consultant Datagro – forecast Soybean production for Brazil between 125.5 Million tonnes for 19/20 season – up from 116.7 million tonnes in the current year.  If realised this will see Brazil exports at around 78 million tonnes of Soybeans (71.7mt this year).  This would see Brazil overtake the US as the worlds number 1 soybean producer but increases in forecast rely heavily on the weather.

UK harvest still stalled currently with wet conditions forecast.