Futures Close Report Monday 5th October 2020

US Harvest Progression
• Soybeans reported 38% complete – slightly ahead of expectations and will ahead of the 28% five year average;
• Corn reported at 25% harvested – slightly behind expectations crop ratings at 62% good /excellent up 1 point on the week;
• Winter wheat planting reported at 52% complete.

Brazil soybean plantings still behind schedule with very dry conditions preventing farmers making a start. Current data suggests around 1.6% of estimated area is planted against 5 year average progression of 4.5% for the time of year.