EUR / USD index fell to 1.1730. WTI crude oil rose to 47.07 USD / barrel.

Oil prices rise on Thursday, recovering partially from the losses in the previous session. Traders say the market is traded within limits, with declining crude oil stocks supporting the prices, but the high output is curbing the growth. Data from the Energy Information Agency on Wednesday showed that US crude oil trade stocks fell by nearly 13% from their peak in March to 466.5 million barrels. The level of stocks is now lower than in 2016. "If stocks continue to decline at that pace, they will reach the five-year average after about two months," said William O'Lafflin, an analyst at Australian Rivkin Securities."The pace of decline has shown that OPEC's production quotas have an effect, although current oil prices suggest that the market is skeptical about the long-term prospects for rebalancing the oil market," he added.

News - yes, but so far they do not change anything on the market. The main driving force remains the USDA's latest report, which market participants can not yet survive. He has doubts that the forecasts will come true, but they are likely to follow them anyway. Usually, when the news is desperate, the markets are at the bottom. However, interest in soybeans from the US is large and stable. USDA reported another export sale of soybeans new crop for China of 165,000 tonnes. During the week 4th - 10th, export sales of US soybeans - old crop - of 453,200 tons. At some point, there will be no opportunity for these sales to be realized as an export for the current year, but it will happen at the beginning of the next.The biggest buyer was China with 342,100 tonnes followed by the Netherlands 85,200 tonnes and Germany 75,900 tonnes. From the new crop, export sales reach 899,400 tonnes, incl. for China 395,400 tonnes, and for unknown buyer 388,200 tonnes.

Low prices make the same for the soybeans and wheat - they greatly increase their sales. In the week, US export sales of wheat were 633,600 tonnes, which is 43% above the average for the past four weeks.

For the corn however, the situation is not good. Sales of the old crop are only 62,400 tonnes and of the new 671,800 tonnes. We are waiting for the pro Parmer news tour next week. We strongly hope the results are not as good as the USDA awaits them. Current analysts' views are lower than expected by the USDA, but fears make the funds sell, given USDA's tenacity in this year's forecast.

Similar is the situation with the soybeans. None of the big analysts increases their forecast for the average US soybeans yield and they are far from the USDA's expectations.
In Europe, Russia sells its new wheat crop. The exact details of the auction in Egypt were made clear. Transaction prices are within 207.40 - 210.23 USD / tonne C & F. The average purchase price is 208.99 USD / tonne C & F, and from the previous auction 219.11 USD / tonne C & F.

The sophisticated situation in China as a result of so-called soybeans processing plants is gradually improving. This improvement reduces the risk of denial of the soybeans contracts already concluded. Many large businesses have begun their activity again, gradually reducing soybeans stocks and lowering the soybean price, which has risen to a peak since May 2017. According to Chinese analysts, the crisis has already passed and now the industry is stabilizing. Also, reduced import demand for soybeans is expected by the end of the year.

Definitely in the last days after the USDA report, nothing has changed. Obviously everyone was so confident in the trend, and the positions they occupied were so stable and large that the different report broke not only their dreams but life !!!

Yesterday wheat futures in Chicago fell by 2 - 5.25 cents / bushel. Exports of wheat from the United States during the week 4th-10th August were 633,600 tonnes or 29.4% higher than last year. There are still no sales of wheat from crop 2018 - 2019. Weekly US wheat exports are 545,899 tonnes. Analysts expect the wheat crop in Canada to reach 26.4 million tonnes at a USDA forecast of 28.35 million tonnes. Saudi Arabia is looking to buy 480,000 tonnes of wheat with October-November delivery.

Yesterday soybeans futures in Chicago reported gains of 5.5 - 8.5 cents / bushel. Export sales of US soybeans old crop are very strong - 453,200 tonnes (+ 1,000% over last year's sales) + 899,400 tonnes of new crop (+ 43,7%). China was the leading buyer with 737,479 tonnes of soybeans. Sales of soybeans meal are at 74,200 tonnes + 68,800 tonnes. Sales of soybeans oil were 23,900 tonnes + 3,000 tonnes.

Yesterday corn futures in Chicago declined by 1 - 2.25 cents / bushel. The export sales of corn from the old crop were 62,400 tonnes and from the new crop 671,800 tonnes. Exports during the week reached 698,500 tonnes. New sales are 39.33% weaker than last year. China sold 123,811 tonnes of corn from the 2014 crop. And another 15,000 tonnes from crop 2013 - both sales from government stocks. This is only 17.14% of the proposed quantity.