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Futures Close Report 4th July

US Markets were closed on 4th July due to Independence day national holiday.

Russia’s agriculture ministry has increased its forecast for Russia’s 2018/19 grain exports to 40-45 million tonnes from a previously expected 35-40 million tonnes.  This is contrary to falling production estimates issued by private analysts.   Official forecasts for Russian production still stand at 100 million tonnes for total grain crop.