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Futures Close Report 6th June

Ukraine’s grain exports have reached 37.4 million tonnes since the season began in July, down from 41.4 million tonnes at the same point last season according to latest figures from the Ag Ministry.  Ukraine said it harvested 61.3 million tonnes of grain in calendar year 2017, down from a record 66 million tonnes in 2016.

Brazilian soybean producers have so far sold 73% of the record 2017-18 crop, far ahead of sales at this period last season as a weaker local currency boosts revenues and stimulates trading activity.  According to a report from agricultural consultancy Datagro, sales at this time a year ago were only at 61%, while the five-year average shows sales at 70%