The quality of wheat harvested in Kazakhstan has been deteriorating in the past five years. Wheat areas in the country have decreased by over 20 mln decares in the past two years to be replaced by oilseeds.

Agricultural organisations in Russia produced 237,200 tons of sunflower in January 2017, which is 13.8% more than January 2016. On February 1, 2017 sunflower stocks in Russian agricultural organisations were 1.624 mln tons, which is 29.2% more than the amount on February 1, 2016.

Egypt has cancelled an auction for the purchase of seed oil, which was due on February 15, 2017.

American farmers have sold about 50% of their future soybean yield. Quick sale pace is due to the fast soybean harvesting in Brazil as well as high soybean prices in Chicago. Many American farmers have been selling their soybean at record tempo for the past 10 years and intend to increase the areas in 2017 – 2018.

Lybia has announced an auction for the purchase of 100,000 tons of milling wheat of random origin.

Considering the improved weather conditions in Argentina, Rosario Grain Stock Exchange increased its forecast for soybean yield in the country up to 54.5 mln tons versus 52 mln tons in its January estimate. Meanwhile, palm oil price has increased by 3.36% after news that palm oil stocks are at a 5-year minimum. Between February 1 and February 10, palm oil export from Malaysia was 337,300 tons versus 338,800 tons between January 1 and January 10. Palm oil pruduction traditionally grows between March and April, which will push prices down.