EUR/USD index rose to 1.1978. WTI crude oil went down to 46.69 USD/barrel.

Oil was traded differently on Monday against the backdrop of the devastating hurricane Harvey in the United States. The hurricane halted about 22 % of the Gulf oil production and about 26 % of the natural gas, according to the US Department of Homeland Security and Environmental Protection. Most refineries on the shores of Texas are closed or restricted. Exxon Mobil closed its second largest US refinery - Houston Ship Channel - due to heavy flooding.The Royal Dutch Shell refinery and Deer Park chemical complex may remain closed for a week. The Brazilian company Petrobras closed its compass at Pasadena, and Phillips 66 closed its Sweeney refinery. A long cessation of refinery activity could lead to fuel shortages and a sharp increase in gasoline in the United States. On Friday, the oil company Baker Hughes announced that the number of oil platforms has fallen for a second consecutive week - from 4 to 759.

Undoubtedly the biggest news is that the hurricane Harvey reached the US coast - Texas. This is the strongest storm since the Hurricane Wilma in 2015. The precipitation is everywhere and much. Yesterday gasoline in the US rose significantly due to the closed refineries.
The US currency is down and is about to reach the lowest level since December 2014 until now. Nothing good for the euro area exporters.

At the same time, the export of wheat from Ukraine is quite strong. In July 2017, 808,700 tonnes of wheat were exported from the country, which is 11% more than in July 2016. Main customers during the month were Thailand, Indonesia and Egypt.

The export from Russia is strong. Russian and Ukrainian wheat prices are now the most competitive in the world. According to data from the Transsagent, 432,683 tonnes of grain were exported from the Russian port of Novorossiysk during the week  21st-28th August, which is almost 29% more than the previous season. 360,683 tonnes of wheat (+ 7.4% compared to the previous week) were exported to countries in North and East Africa and the Middle East.

China's customs office reported that 10.08 million tonnes of soybeans were imported into the country in July. Of this, about 75% or 7.63 million tonnes are from Brazil, which is 30% more than July 2016. In the first six months of 2017, 54.88 million tonnes of soybean were imported into China, 30.83 million tonnes from Brazil.

Yesterday corn futures in Chicago declined by 2.75 cents / bushel. USDA has announced the export sale of 160,020 tonnes of new corn  to Mexico. In good and excellent condition are 62% of the corn crops in the United States - no change from the previous week. Weekly export controls for US corne are at the level of 805,756 tonnes. One week before the end of the season, exports of US corn were 56.09 million tonnes,  23.07% more than the previous year.

Soybeans futures fell yesterday in Chicago by 1 - 3.75 cents / bushel. Weekly export controls for US soybeans are at 716.171 tonnes. Week before the end of the season the export of soybeans was 13.03% more than the previous year. In good and excellent condition in the United States are 61% of soybeans at 60% a week earlier. In 2017 - 2018 the soybeans areas in Brazil will be 85.7 million acres or 2.27% more than 2016-2017. The crop will be 110.6 million tonnes at 114 million tonnes a year earlier. The decline is due to lower yields.

Yesterday wheat futures in Chicago fell by 6 - 9.5 cents / bushel. Export controls of wheat from the US are at the level of 670,748 tonnes. In the United States, 76% of the areas of spring wheat are harvested. Today, Egypt's state-owned company GASC will hold a wheat purchase auction with delivery from October 1st to 10th.