Futures Close Report: 4th Sept 2017

Analyst UkrAgroConsult on Tuesday raised Ukraine’s 2017/18 all grain exports forecast by 3.4% to 42.06 million tonnes underpinned by higher-than-expected harvest.  Final forecast for Wheat harvest was put at 26 million tonnes marginally down from last year.

Russian export prices fell for a fifth consecutive week, under pressure from a large new crop, but their decline was limited by a strengthening ruble against the dollar.  Black Sea prices for Russian wheat with 12.5% protein content and September delivery were at $179.50 a tonne on a free-on-board basis at the end of last week, down 50 cents from the week earlier according to IKAR.

UK domestic markets fairly quiet as farmers turn attention to land work.