Futures Close Report: 4th August 2017

Russia’s IKAR raised its forecast for Russia’s 2017 wheat crop to 74-77 million tonnes from a previously expected 72-75 million tonne.

Ukrainian farmers had harvested 19.1 million tonnes of wheat from 77% of the total area, down from 21.5 million tonnes on the same date a year ago when 84% of the total area was harvested, according to comments made by  the Agriculture Minister last week.

Next USDA S&D Report due on Thursday 10th August.