Rapeseed price rose, wheat price dropped, and corn price remained stable.
EUR / USD index went up to 1.1871. WTI crude oil rose to 49.48 USD / barrel.

Oil stocks in the US fell by 1.5 million barrels in the week to July 28th, said the Energy Information Administration in its regular weekly report. The amount is less than expected. Market analysts forecast a decline of about 3 million barrels, and a day earlier, the US Petroleum Institute reported a 1.8 million barrel growth. The stocks in the repository Cushing, Oklahoma, which is considered a hub for WTI, decreased by 39 thousand barrels last week. Total US oil stocks are at the level of 481.9 million barrels, which the authorities believe is in the upper half of the average range for this time of the year. The stocks of gasoline declined by 2.5 million barrels at the expectations for a decline of 0.6 million.

Yesterday the agricultural commodities in Chicago were overshadowed by the excellent performance of the stock markets. For the first time in history, the Dow Jones Industrial Average passed the level of 22,000 points. The price support was due to the continued decline in the US currency. This movement improves the competitiveness of US production. The meteorological forecast shows that in the next five days all of the Midwest of the United States will get some rainfall and rainfall will be significant in some places. Yesterday however, rainfall disappointed the farmers and the investors. They covered less than 20% of the corn  belt and were massively below 6 l / sq. m.

Analysts expect the USDA report  in August to reduce US soybeans stocks in the current season, which will reflect the larger production for exports in the recent weeks. ADM was confident that in 2017 - 2018 soybeans exports from the US will be strong and at the same level. At present, the FOB price of US soybeans is competitive with that of Brazil. We have to point out that this is an unusual situation, because it is now a strong moment for the export  from Brazil and it is just before the US harvest. This is due to the large soybeans stocks in the US that keep crop prices low throughout the season and exports steadily high for 12 consecutive months.

Weekly ethanol production figures in the United States show a decline of 10,000 barrels a day from the previous week to 1,002 million barrels per day.
In Australia, soil moisture improves due to precipitation in the southern parts of the country. It can not be said that rainfall is massive but still covers significant parts of the main production regions.
In Canada as a whole, drought continues, but there will be rainfall in places in Saskatchewan and Alberta.

Problems come from the Black Sea region. Russian wheat production in the new season is expected to be in the range of 76-78 million tonnes. Russia will consolidate its performance as a year-round inexpensive wheat exporter. The entire Black Sea region will do exactly that - from now on.
Improvements in conditions over the last 1 to 2 weeks will affect the prospect of the wheat price for the whole of 2017-2018.

According to a latest forecast of analysts from INTL FCStone, US corn production will reach 345.19 million tonnes at an average yield of 162.8 bushels / acre. According to the forecast of INTL FCStone, the soybeans yield will be 115.06 million tonnes at an average yield of 47.7 bushels / acre. The USDA forecast is for a crop of 115.87 million tonnes, yielding 48 bushels / acre. Certainly corn has an interesting forecast. It is expected that under a crop of less than 350 million tonnes, the balance will be very tight in the United States. However, this is still far ahead, given the growing crop forecasts in South America. Still, a crop of 345 million tonnes will set a tune for the US corn ending stocks, which will be a good signal.

INTL FCStone has increased the forecast for the second corn crop in Brazil in 2017 with 1 million tonnes to 67 million tonnes. South America continues to swim in corn. Until now, swimming was in the sea, but now things are going to the ocean. What will happen to this corn during the season? I guess something like this with wheat in the Black Sea region - 12 months stable export at year-round low prices.

Wheat price– yesterday wheat futures in Chicago fell by 0.5 to 0.75 cents / bushel. Yesterday morning rainfall crossed North Dakota and headed for Minnesota. Weekly export sales of US wheat are expected to fall between 300,000 and 550,000 tonnes at 498,042 tonnes a week earlier.

Soybeans price– yesterday soybeans prices in Chicago rose by 5.75 - 7 cents / bushel. In July, soybeans exports from Brazil were 6.955 million tonnes, which is 20.18% more than in July 2016. Export sales of US soybeans are expected to be 350,000 - 750,000 tonnes (531,844), soybeans meal 25,000 - 275,000 tonnes (55,160) and soybeans oil 5,000 - 25,000 tonnes.

Corn price– yesterday corn futures in Chicago rose by 2.5 cents / bushel. In the past week, ethanol production in the United States dropped bby 10,000 barrels per day to 1,002 million barrels. Ethanol stocks dropped by 677,000 barrels to 20,852 million barrels. Export sales of US corn are expected to be between 500,000 and 900,000 tonnes.