EUR/USD index rose to  1.1789. WTI crude oil went down to 46.89 USD/barrel.

Federal Reserve Bankers are increasingly worried about weak inflation lately, and some have called for a halt in the rising interest rates until it is clear that the trend is transient. This is the record of the last political meeting of the central bank, published on Wednesday. The minutes of the meeting in July at which central bankers voted unanimously to keep interest rates unchanged shows that Fed is increasingly approaching the moment that will begin to reduce its portfolio of government bonds and collateralized mortgage debt 4,2 trillion dollars.The protocol shows that central bankers have had a long debate about the latest slowdown in inflation. Inflation remains below the Bank's target of just under 2% for over 5 years.

The fall in prices in Paris continues, albeit at a slow pace. Yesterday, for example, prices remained stable despite the decline in Chicago. The progress in harvesting in the Black Sea region is reflected everywhere. The rapeseed price has fallen in the recent weeks. The other players in the oil segment - soybeans and palm oil, are lowering their prices and affecting rapeseed.

Yesterday, the US market continued with the grain decline. Here again, the Black Sea region has played a major role in the decline. Definitely in 2017 - 2018 the United States will lose its position as the largest wheat exporter in the world, something that has not happened in 2016-2017. The export price of Russian wheat for December is at its lowest level since the end of 2016.

Expected rainfalls in the US Midwest increase the risk of further bear market corrections, despite new US export sales and increased soybeans in the country in July. Chicago prices are struggling with the USDA August report and data on better US corn crops. Again to emphasize that the data from the latest USDA report does not benefit from extensive support from analysts. There are many doubts in everything. In some places in the Midwest of the United States, farmers reported that corn cobs were less than last year.

In the Black Sea region, crop prices also fall, but moderately. Over the past two weeks the price of Ukrainian wheat with protein 11.5% decreased by 10 USD / tonne to 161 USD / tonne. Ukrainian rapeseed follows the price of Paris.

On 16.08.2017 the Egyptian state-owned GASC bought 355,000 tonnes of Russian (295,000) and Ukrainian (60,000) wheat with delivery from September 20th to 30th. Compared to the previous auction, prices fell by more than 10 USD / tonne. A large amount of wheat was purchased again, with this purchase GASC having purchased about 2.5 million tonnes of new wheat. The lowest bid price is for Russian wheat 192.29 USD / tonne FOB. The lowest C & F price is also for Russian wheat - 207.53 USD / tonne. French and Romanian proposals are about 5 USD / tonne higher in FOB terms. Additionally for French wheat and barley it is about 2 - 4 USD / tonne higher.An American proposal was absent at all, which also influenced the price drop yesterday in Chicago. This makes suggestions from Russia and Ukraine seemingly better. Today we will see the export sales of wheat from the United States. We can expect that they will be good. If this happens, then all wheat exporters in the world will be very active in sales, i.e. the demand is steadily high.

In 2017 the Indian farmers have collected a record high wheat crop of 98.38 million tonnes, which is almost 1% more than the May forecast. The total grain crop in the country will be 275.68 million tonnes at a May forecast of 273.38 million tonnes.

Yesterday wheat futures in Chicago fell by 6 to 10 cents / bushel. Export sales of wheat from the US are expected to reach 300,000-600,000 tonnes. According to the Ministry of the Environment, 98% of the wheat crop is harvested in the country, which is 26 million tonnes.

Yesterday soybeans futures in Chicago rose minimally. A Chinese delegation in the US signed an agreement to buy another 3.8 million tonnes of soybeans. Export sales of US soybeans are expected to be 50,000 - 250,000 tonnes for the old crop + 300,000 - 600,000 tonnes for the new crop. Sales of soybeans meal will be 60,000 - 300,000 tonnes and soybeans oil 8,000 - 35,000 tonnes.

Yesterday corn futures in Chicago fell 1.5 to 2.75 cents / bushel. Ethanol production in the US rose by 47,000 barrels a day to 1,059 million barrels a day last week. US ethanol stocks rose by 481,000 barrels per week to 21,828 million barrels. Export sales of corn from the US are expected to be 0 - 200,000 tonnes + 400,000 - 700,000 tonnes of new crop. The Buenos Aires grain stock market predicts that corn areas in Argentina in the new season will be 53.99 million decares at 50.99 million decares in 2016-2017.