Futures Close Report 6th September

Focus for the week ahead will be USDA report due on Thursday – funds positioning for bearish news on US Corn position as the recent weather seen as friendly to increases in crop estimates. Crop forecaster IEG Vantage increased its forecast of the average U.S. 2019 corn yield to 169.6 bushels per acre (bpa), up from 167.8 bpa a month ago

Export prices for Russian wheat seen at their lowest level since October 2017, prices having fallen for the 6 consecutive weeks. Russia has exported 9.8 million tonnes of grain since the start of the 2019/20 season.