As of June 1st 2017 forward sales of new crop wheat amount to 6.61 million tonnes, up by 14.6% from the beginning of 2016-2017.
In 2017 – 2018 corn crop in China will drop by 0.7% compared to the previous forecast and by 3.6% compared to 2016-2017 down to 211.65 million tonnes. The yield will be the lowest since 2013 until now.
Most likely, Argentinean farmers will not sow 100,000 hectares of wheat as a result of the floods according to forecast of the Argentine Grains Exchange. The forecast for areas under wheat cultivation remains at 5.5 million hectares. As of June 7th, 2017 with wheat are sown 1,175 million hectares or 21.4% of the plan. The yield is estimated at 17.5 million tonnes.
Hungary's Ministry of Agriculture forecasts that average wheat yield in the country will drop to 5 tonnes / ha. Areas under wheat cultivation during the season amount to 950,000 hectares and the crop will be 4.75 million tonnes, given 5.6 million tonnes a year earlier.
Iran is looking to buy 30,000 tonnes of soybean oil.
On June 9th 2017 Chinese authorities offered for sale 1.68 million tonnes of corn (1.648 million tonnes of Chinese since 2013 and 32.800 tonnes imported from 2011 to 2013). 996,300 tonnes of Chinese corn and 19,700 tonnes of imported corn were actually sold.
In the recent days, buyers from Pakistan have purchased 500,000 tonnes of soybeans from the US and Brazil for January - April 2018 shipment.
