Futures Close Report 7th May  2018

China’s April soybean imports fell 13.7% from the same month a year earlier, this still equates to a total of 6.9 million tonnes for the month – although the markets had expectations closer to 8.5 million tonnes.

USDA crop progress:

• 34% of US winter wheat in good / excellent condition up 1% point from last week;
• US corn 39% planted up from 17% last week behind the 5 year average of 44%;
• US soybeans 15% planted up from 5% last week and slightly ahead of the 5 year average of 13%.