Call: 0333 777 8522
Get in touch

Futures Close Report: 4th December 2017

Firm markets for soybean meal continue on forecasts for dry weather conditions in Argentina seen as delaying plantings and reducing yield potential – funds are keen buyers of futures as a result.

Brazil’s 2017/18 soybean crop could reach 107.6 million tonnes, broker and analyst INTL FCStone said on Monday, raising its forecast from 106.1 million tonnes previously.

Australia’s 2017/18 wheat production is expected to decline further, the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) said on Tuesday, after recent storms damaged the crop, and following a severe drought earlier in the season that reduced yields.  The world’s fourth-largest wheat exporter is forecast to produce 20.3 million tonnes of wheat this year, the agency said, down more than 6% from its September forecast of 21.64 million tonnes and 42 percent below last year’s record crop of more than 35 million tonnes.