Wheat

- In its September forecast, IGC increased the supply of wheat to Russia in 2017-2018. to the record 92.9 million tonnes, up 14.4 million tonnes more than the previous season. The forecast for wheat export is increased by 4.3 million tonnes to 32.1 million tonnes. Ending stocks of wheat are increased by the enormous 7 million tonnes to 17.5 million tonnes.

- In its September report, IGC raised its forecast for global wheat crop in the new season to 748 million tonnes (742 million tonnes in the previous forecast and 754 million tonnes a year earlier). Global wheat consumption will be 742 million tonnes (738 and 736) and ending stocks 248 million tonnes (248 and 242).

- According to forecast of  the Buenos Aires Grain exchange, during the season the wheat crop in Argentina will be 17 million tonnes (16.8 million tonnes in 2016-2017).

- On September 28, 2017 Algeria held an auction for the purchase of 50,000 tonnes of milling wheat. There is no indication of how much wheat is purchased, but the price is 213 - 214 USD / mt, C & F. Most probably French wheat was the one purchased. At the previous auction of August 27, 2017 the price was 200-200.75 USD / mt, C & F for 590,000 tonnes of wheat.

- In the week ending on September 28, 2017 69,816 tonnes of wheat were imported into the EU (+ 67.6% compared to the previous week). Since the beginning of the season, import has reached 674,638 tonnes (-16.5%).

- According to a poll conducted among analysts, brokers and traders in Australia, wheat crop will drop more than expected to 20.15 million tonne, which will be a 10 years low. The indicator will be 7% lower than government data - 21.64 million tonnes and 40% less than the 2016 crop - 35.56 million tonnes.

Grain

- According to the latest IGC forecast, in 2017 - 2018 global grain crop will be 2,069 million tonnes (2,049 in the previous forecast and 2,133 in 2016 - 2017). Grain consumption will be 2,096 million tonnes (2,089 and 2,088) and stocks 497 million tonnes (485 and 525).

- In its September forecast, IGC sharply increased its forecast for global corn crop to 1,029 million tonnes (1,017 and 1,079), consumption to 1,058 million tonnes (1,055 and 1,051) and stocks to 208 million tonnes (196 and 237).

- In Kazakhstan, 90-95% of the areas are harvested. 20 million tonnes of grain are harvested. Export is expected to exceed 9 million tonnes.

- From October 10, 2017 additional trade preferences for import of Ukrainian goods into the EU are in force . The quota for duty-free import of wheat is 65,000 tonne, corn - 625,000 tonnes and barley 325,000 tonnes. This year's quotas were reduced due to the interests of European farmers.

- According to the latest IGC forecast, in 2017 - 2018. grain crop in Kazakhstan will be 17.9 million tonnes (-1.5 million tonnes compared to the previous year). Initial grain stocks were 3.7 million tonnes (+0.5), supply of grain during the season 21.7 million tonnes 20.8) and export would be 8.2 million tonnes.

- According to the forecast of the Ministry of Agriculture of Ukraine, in the current year the corn crop is expected to exceed 27 million tonnes, of which 7.5 million tonnes will be used for domestic consumption. The total grain crop will reach 61-63 million tonnes, while the export will exceed 41 million tonnes.

- For the last five years grain consumption in Ukraine has fallen by 15% or at an average of 3% per year. In 2017 - 2018. consumption will be 23.8 million tonnes at 23.7 million tonnes a year earlier but 25.3 million tonnes in 2015-2016.

- According to  forecast of the Buenos Aires Grain Exchange, during the season Argentina's corn crop will be 41 million tonnes (39 million tonnes in 2016-2017).

- In the week ending on September 28, 2017. import of corn into the EU was 146,699 tonnes (-32.6% from the previous week). Since the beginning of the season, 3.36 million tonnes of corn have been imported (+ 62%).

- According to SovEcon in the current year corn yields in Russia are lower than the previous year. In the Central Federal District, by 0.1 mt/ ha, in the Southern Federal District, by 0.36 mt / ha in the North Caucasus Federal District, 0.15 mt/ ha.

Oil crops and vegetable oils

- In its September forecast, IGC raised its forecast for the global soybean crop in 2017-2018. by 1.4 million tonnes compared to the previous forecast to 348.4 million tonnes (-2.1 million tonnes versus 16/17). Global soybean consumption will rise sharply to 351 million tonnes (338), and ending stocks drop to 42 million tonnes (45).

- According to the forecast of the Ministry of Agriculture of Ukraine, in 2017 sunflower crop in the country will be 11.8 million tonnes (USDA - 14 million tons), soybean 3.9 million tonnes (USDA - 4.6 million tonnes).

- According to forecast of the Buenos Aires Grain Exchange, during the season the soybean crop in Argentina will be 54 million tonnes (57.5 million tonnes a year earlier). Areas under cultivation declined to 18.1 million hectares (19.2).

- According to Oil World, during the period January - August 2017, China imported a record amount of soybean - 63.3 million tonnes (53.9 million tonnes last season). In August alone, import reached 8.45 million tonnes (7.67). In September, import is expected to be 7.5-8 million tonnes, which will be above last year's result.

- In August, rapeseed import into China was 318,000 tonnes (429,000). During the period January - August 2017, it reached 3.36 million tonnes (2.76), incl. from Canada 3.24 million tonnes (2.74).

- During the period August - September, rapeseed import into the EU will be quite active. From Ukraine, 0.9-1 million tonnes of rapeseed will be delivered at 0.58 million tonnes in the same period in 2016. In 2016 - 2017. 5 million tonnes of rapeseed were imported into the EU, including 3.1 million tonnes from Australia. Deliveries from Canada were 0.7 million tonnes (0.4 million tonnes a year earlier) and from Ukraine 1 million tonnes (1.1). In 2017 - 2018. rapeseed  import into the EU will drop to 3.05 million tonnes - the lowest level for the past three years.

- According to data from market operators, Egyptian state-owned GASC announced a tender for the purchase of 10,000 tonnes of sunflower oil and 30,000 tonnes of soybean oil for shipment from October 25 until December 10, 2017.

- According to Imea, farmers in the Brazilian state of Mato Grosso sold only 15% of sthe oybean, crop 2017-2018. at 26% a year earlier. Soybean production in the state is expected to reach 30.5 million tonnes, which is 2% less than 2016-2017. The areas under cultivation will grow by 0.2% to 9.41 million hectares and the average yield will decrease by 2.3% to 47 bushels / acre.