Futures Close Report 4th May

US Planting Progress

• 51% of Corn reported planted, up from 27% last week.  For soybeans 23% of area had been planted.  Both corn and soybeans showing planting progress is well advanced against the 5 year average.
• US winter wheat was reported in 55% good / excellent condition up 1 point from last week.

Brazilian soybean exports in April reached 16.3 million tonnes, an all-time record for a single month.  Previous record was 12.35 million tonnes, set in May 2018.