Grain Highlights

COCERAL lowered their forecast for soft wheat production in the EU in 2017/18 compared to the September forecast by 1 million tonnes to 141.121 million tonnes, however it isby 4.1% more than the 2016 crop.

Wheat

- According to USDA, 75% of the planned areas in the US, are sown with wheat as of  October 22, 2017, given 60% a week earlier, 78% a year earlier and 57% on average over the past five years.

- In August, wheat export from the UK reached 55,613 tonnes (+ 340% compared to July). From the beginning of 2017/18 export is 71,781 tonnes. In August, 135,395 tonnes of wheat were imported, and from the beginning of the season 290,921 tonnes.

- Morocco announced a tender for the purchase of 30,000 tonnes of soft wheat and 327,273 tonnes of hard wheat from the United States for shipment until the end of 2017.

- Egyptian wheat stocks are sufficient to meet domestic demand for the next 4 months, stocks of vegetable oils for 3.2 months, and that of rice for 1 month.

- Authorities in India increased the minimum purchase price of wheat in the country by 6.8% in order to increase domestic production.

- Ethiopia announced a tender for the purchase of 200,000 tonnes of wheat of optional origin.

 

Grain

- COCERAL lowered their forecast for barley crop in the EU in 2017/18. by 516,000 tonnes compared to the September forecast to 57,617 million tonnes, which is 3.5% less than the 2016 crop. The estimate for spring barley is 27.667 million tonnes (-8.3%). Forecast for corn crop increased by 539,000 tonnes to 59,799 million tonnes (-1.7%).

- According to USDA , as of October 22, 2017. 38% of the corn areas in the US are harvested, given 28% a week earlier, 59% a year earlier and 59% on average over the past five years.

- According to Oil World, in September, the export of corn from the world's six major exporters was 11.5 million tonnes at 11.62 million tonnes in September 2016 - the US 3.16 million tonnes (6.38), Brazil 5.92 million tonnes (2.92), Argentina 1.94 million tonnes (1.82), Ukraine 0.12 million tonnes (0.07), Russia 0.32 million tonnes ( 0.4).

- According to Oil World, in 2016/17 export of corn from the six major exporters was 126.5 million tonnes (131.4 million tonnes in 2015/16). Export from Brazil is 19.79 million tonnes (35.38), the US 55.47 million tonnes (51.4), Argentina 22.84 million tonnes (21.58), Ukraine 21.33 million tonnes (16.59), Russia 5.58 million tonnes (4.69 million tonnes ) and Canada 1.48 million tonnes (1.76).

- In the first five months of the current season (22.03 - 22.08), 650,500 tonnes of barley were imported into Iran.

 

Oil crops and vegetable oils

- COCERAL increased their forecast for oil crops in the EU in the current season by 2 million tonnes to 33.3 million tonnes. Rape seed crop will be 22 million tonnes at 20.5 million tonnes in 2016. Sunflower crop will be 8.7 million tonnes (8.3) and that of soybean 2.6 million tonnes (+0.2).

- Iran is looking to purchase 120,000 tonnes of soybean meal from Argentina or Brazil for December 22 - March 11, .2018 shipment.

- In September 2017. 140,600 tonnes of sunflower oil were exported from Russia, which is 51% more than the previous year. Sudan is the major customer with a share of 18%, followed by China 17%.

- In 2017/18. palm oil production in the world will be 4.5 million tonnes higher than the previous season. Production in Malaysia will reach 19.1 - 19.3 million tonnes and Indonesia 34 to 34.5 million tonnes.

- In 2017/18. Turkey will lower sunflower purchases by 18%, sunflower oil by 13%, and that of sunflower seed will increase by 4%.

- In the first six months of the current economic year (21.03.-22.09.2017), 2,318 tonnes of vegetable oils were imported into Iran, which is 284% more than the previous year.

- From the beginning of the season July 1, 2017 until October 17, 2018. 3.25 million tonnes of soybean were imported into the EU at 4 million tonnes a year earlier. Import of soybean meal reaches 5.6 million tonnes (5.25) and that of palm oil - 1.9 million tonnes (1.75).