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Futures Close Report 8th June 2020

US Crops – 75% US corn reported good / excellent up 1 point on last week.  US soybeans seen at 72% good / excellent up 2 points on last week   51% of winter wheat was rated as good excellent unchanged on previous week.

Coceral lowered their combined EU / UK Wheat production estimate to 129.7 million tonnes down from previous months forecast of  135.4 million tonnes.  Yield reduction in France / Germany due to dry conditions were the biggest contributors to the changes. However, Mazie yields were raised to 66.8 million tonnes from previous 65.5 million tonnes.