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Futures Close Report 7th June

FranceAgrimer estimate 77% of French maize (Corn) Crop in Good / Excellent condition down from 84% last week  – this is due to excess rainfall in the south of France..   79% of soft wheat was put at good / excellent down slightly from last weeks 80%.

US soybean and corn prices have come under pressure as forecasts for beneficial rains in the U.S. Midwest due next week improve market sentiment for production prospects.

Dry weather in Black Sea regions and Aus still causing concern for wheat markets.

China, imported 9.69 million tonnes of Soybeans in May, up from April’s 6.9 million tonnes, but just 1% higher than in May last year according to their latest customs data.  No breakdown of origins was given (Ie US vs SOAM).