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Futures Close Report 4th October

Forecast by for Arg wheat crop seen at 19.7 million tonnes by Buenos Aires Grains Exchanged which is a record high figure – corn planting was seen just under 20% complete, against a total expected area of 5.8 million hectares. Brazil crops were circa 5% planted for soybeans and 33% planted for corn. Both ahead of nominal 5 year average pace, according to AgRural.

Egypt made purchases of 180k tonnes of Russian wheat in its latest international tender.

Informa economics raised its U.S. corn and soybean production forecasts.  US corn crop estimated at 14.89 billion bushels and soybean production seen at 4.677 billion bushels,  both a result of  increasing of average yield.