With parts of Asia on holiday the US punters appeared to concentrate on the negatives not the positives to close out the week. Better than expected weekly US exports sales were countered by more Trump rhetoric. Building a wall between the USA and Mexico doesn’t stop Mexicans from eating corn. At the end of the day it has to come from somewhere, the punters appear to have lost sight of the big picture again.
All US wheat futures closed the session and the week lower. Some US weather maps show some moisture for the plains in the midterm but nearby the maps are generally dry across the entire mid west and HRW belt. The 15 day map shows the HRW belt only receiving 40% to 60% of average rainfall for this time of year.

India continue to suggest they will produce in excess of 96mt of wheat this year. Chickpea production is also expected to increase significantly over the last two years when poor harvest condition in 2015 decimated the crop and then poor rainfall reduced yields in 2016. 2017 is shaping up to be a dry one too though, although this year the monsoon was good and most irrigation dams are full. Central India is expected to see around 20% of its average rainfall for this time of year over the next fortnight.
Western Europe is looking good with almost perfect conditions prevailing. Eastern Europe remain dry and cold at present.