Futures Close Report Wednesday 7th October 2020

Russia increased its exportable surplus of wheat to 50 million tonnes for the year July 20 to June 21.  Exports so far have been 14 million tonnes.  However, Russia export quota mechanism is expected to be triggered to limit volume of exports in the Jan / June section of the marketing year to 20 million tonnes total.

CBOT soybean markets continue to firm on weather concerns for planting in South America.