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Futures Close Report  Monday 21st May  2018

USDA planting progress:

    • US soybeans 56% planted up from 36% last week (44% 5 year average);
    • US corn 81% planted up from 62% last week ( 81% 5 year average);
    • US winter wheat 36% good / excellent unchanged from last week (52% at the same point last year).

Truck driver strike in Brazil seen as slowing the flow of soybeans to major exporting centre of Santos.  Truck drivers are protesting owing to fuel price increases.

Improvements in US weather outlook for rain across southern US plains seen as weighing on US CBOT futures.

UK wheat liquidity on old crop remains poor with little incentive for farmers to sell any remaining volume as demand remains firm particularly to northern homes.