EUR / USD index rose to 1.1922. WTI crude oil rose to 49.14 USD / barrel.

France wants to be in the first row and plans to stop its modest oil and gas production by 2040, hoping to convince other countries to follow its model. That said the President Emanuel Macron  yesterday , quoted by Christophe Kastaner when presenting a draft law in this direction. The text was presented by the Minister of Ecological and Solidarity Transition, Nikola Yulo.The government wants the law to be adopted by the end of the year to confirm one of Macron's election promises. The project provides that no licenses will be issued for developing of liquid fuels, which will put an end to the demand for new oil and gas stocks. In addition, existing concessions will not be renewed after 2040. The provisions apply to both land and offshore projects, both in mainland France and overseas territories.

Yesterday, soybeans prices in Chicago rose under the influence of dry weather in the Midwest of the United States. The floods in Florida caused by another hurricane remained in second plan. The lack of rainfall is  risky for the crops, but so far, analysts' forecasts remain stable. The first yield in central Illinois are not in line with the forecasts. The same applies to the yields of corn. No significant rainfall is expected in the next two weeks. In Argentina it also rains very much, but in East Australia rainfall is deficient. The strengthening of the Australian currency and the damage from the drought in the country have increased the price of wheat. The Russian ruble also rises and this makes exports less competitive.

Imea raised its forecast for the second corn harvest in the Brazilian state of Mato Grosso from 29.5 million tonnes to 30.45 million tonnes.
Officials from the United States have warned of a significant reduction in soybeans imports in China caused by high stocks of already purchased soybeans. The US Agricultural Attaché in Beijing expects an import of 92.5 million tonnes of soybeans for the season, much below the USDA forecast of 94 million tonnes. The advanced orders for export of soybean from the US are 39% lower than last year's. Low soybeans prices have boosted Chinese buyers by the end of 2016 - 2017.In July, imports amounted to more than 10 million tonnes, which is 30% more than last year, and in the period January - July the import exceeded 16.8% in the previous year. During the last months of 2016 - 2017, soybeans processors' margin in China is negative. This poses a worse prospect of increased soybeans imports in the Asian country. Despite the problems the USDA attaché in China expects in the new season China will buy 35 million tonnes of soybeans from the United States at USDA forecast of 30 million tonnes. So far, the early season delay does not affect the expectations for the entire season.

The Canadian Bureau of Statistics has estimated canola stocks in Canada at the end of July of 1.35 million tonnes, down by 36% from the previous year. The market expected stocks of 1.5 million tonnes. Stocks of wheat are 6.87 million tonnes, 33% below last year's level with market expectations of 6.0 million tonnes.

Yesterday corn futures in Chicago rose up to 2.75 cents / bushel. The USDA reported a private export sale of 253,300 tonnes of corn to Mexico from the new crop. Analysts expect the USDA stock report in September to report an old crop in the United States at 59.74 million tonnes at August's report of 60.2 million tonnes. Stocks at the end of the new season will be 53.98 million tonnes. In good and excellent condition in the US are 61% of the corn crops (62% a week earlier). The USDA reported a private export sale of 143,650 tonnes of corn to Mexico from the new crop. Weekly export controls of US corn are at 797,555 tonnes (-45.72% less than last year). For the season, exports reached 56.9 million tonnes (+ 21.71% more compared to 2015-2016). AgroConsult forecasts Brazil's first corn crop of 26.1 million tonnes or a decline of 14% over the previous year. In August, 5.257 million tonnes of corn were exported from Brazil at 2.232 million tonnes in July.

Yesterday soybeans futures in Chicago rose by 2 - 4 cents / bushel. Soybeans stocks in the US are expected to be 9.82 million tonnes of old crops and 11.94 million tonnes for the next USDA forecast. In  good and excellent condition in the United States are 61% of the soybean crops - no change from the previous week. The USDA reported a private export sale of 136,000 tonnes of the new soybeans crop to China. Weekly export controls of US soybeans are at 644,909 tonnes (-47.68%). For the year, exports reached 57.72 million tonnes (+ 12.06%). At the end of July, soybeans stocks in Canada were 1.348 million tonnes, which was 35.54% less than the previous year.Abiove estimates the new soybeans crop in Brazil at 108.5 million tonnes at a current crop of 113.8 million tonnes. AgroConsult estimates the new crop to be  111.1 million tonnes. In August, 5.952 million tonnes of soybeans were exported from Brazil at 6,955 million tonnes in July.

Yesterday wheat futures in Chicago rose by 2 - 6 cents / bushel. Analysts expect the USDA to cut its ending stocks of wheat in the US in the current season to 25.38 million tonnes. Canada's Bureau of Statistics has increased wheat stocks in the country by 31.07.2017 with 32.58% year-on-year to 6.865 million tonnes. A large part of the growth is due to a downturn of 1.863 million tonnes (+ 69.3%). Weekly US export controls for wheat are at 252,565 tonnes, down by 60.74%  than last year. In the United States, 89% of the spring wheat is harvested.