Futures Close Report 4th June

US Crop Planting

• Corn – 67% planted up from 58% last week – 5 year average 96%
• Soybeans 39% planted up from 29% last week  5 year average 79%
• Spring Wheat 93% planted up from 84% last week – 5 year average 96%  – 83% of the crop reported in good / excellent condition  with Winter wheat reported 64% good / excellent.

So on balance US market still pre-occupied with weather and planting delays,  also switching of Corn acres to Soybeans as the planting windows close off.