Markets close higher on the week helped by gains in US corn/soybeans. Brexit still the dominant feature for London wheat. USDA raise Global corn ending stocks by 1.29mmt to 308.8mmt (slightly above trade expectations). Global wheat ending stocks raised 1.39mmt to 268.1mmt, also marginally above trade ideas. Wheat production reduced 500tmt for Australia to 17mmt, with Canadian production increased by 300tmt to 31.8mmt. Speculation that China will resume buying of US corn from

Markets firmer this week as positive US/China sentiment provides support. Traders continue to watch for more clarification re. the status of the US/China trade talks and when China will again become a buyer of US ag products as suggested in their statement. US maintains that tariffs on $200 billion of goods will rise from 10% to 25% if an agreement is not reached by the 90 day deadline. EU wheat exports to date placed at 6.2mmt, down 30% y/o/y. Trade expectation is of circa 1

Markets close marginally higher after a quiet week with the G20 Summit and planned US/China talks the focus. US/China come to a temporary truce at the G20 summit, placing a hold on any further tariffs whilst talks continue over the next 90 days. In a statement released, China agreed to start buying agricultural products ‘immediately’. JCI China consults suggests the Chinese trade have bought over 20mmt less wheat from the 2018 crop to date, with Government procurement for the