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July 15, 2019

CRM AgriCommodities Market Review – 15th July 2019

After dropping to a near 2-month low of ~£143/T due to harvest progress in Europe last Wednesday, Nov-19 LIFFE feed wheat bounced back above its key 100-day moving average around £148.50/T with the USDA cutting its 2019 Russia wheat production forecast by more than expected. As expected, the controversial end to NASS’s June acreage figure of 80Mac for the 2019 US soybean planted area forecast was used in the July WASDE report in which the USDA also lowered its yield estimate by 1bu/ac to 48.5bu/ac.

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July 15, 2019