Wheat

- According to FAS USDA forecast, wheat crop in Argentina is lowered to 16.8 million tonnes, 0.7 million tonnes less than the official USDA forecast.

- Saudi Arabia purchased 484,000 tonnes of hard wheat at price of 221.51 - 229.58 USD / mt, for January shipment.

Grain

- According to FAS USDA forecast, Argentina's corn crop in the season will be 40 million tonnes (-2).

- In the northern parts of Ukraine, corn yields are at  7 - 9 mt/ ha.

- During the week October 23 - 29, 527,368 tonnes of grain (+ 37% compared to the previous week and + 260% yoy) were exported from the Russian port of Novorossiysk, incl. 400,587 tonnes of wheat, 62,781 tonnes of corn, 64,000 tonnes of barley.

- Turkey may switch corn supplies from Russia to supplies from Ukraine. The reason for this is the growth of the sea freight from the shallow Russian ports. Now the price of Ukrainian and Russian corn, C & F Turkish ports is 180 - 182 USD / mt, but some traders offer a price of 179 - 180 USD/ mt. Turkish buyers are at levels of 175 - 175 USD / mt, C & F.

- Grain crop in Ukraine will reach 66.2 million tonnes, which is 0.5 million tonnes higher than the previous forecast. The data is from the Ministry of Agriculture of Ukraine. Grain export from the country will be 43 million tonnes (+0.5 million tonnes compared to the September forecast). Ending grain stocks in Ukraine will be 2.9 million tonnes at 3.5 million tonnes yoy.

- As of October 1, 2017. wheat stocks in Ukraine were 14,032 million tonnes, corn 3.06 million tonnes, barley 2.38 million tonnes, rye 229,000 tonnes, sunflower 5.83 million tonnes.

Oil crops and vegetable oils

- The Malaysian government predicts that in 2017, the country's palm oil crop will reach 20 million tonnes (+ 15.5%yoy), and in 2018 it will be 20.5 million tonnes.

- From the beginning of 2017/18. 2 million tonnes of oil crops were exported from Ukraine, incl. rapeseed 1.68 million tonnes.

- Strategie Grains predicts that in 2017/18 rapeseed crop in the EU will be 21.86 million tonnes at 21.89 million tonnes in the previous forecast and +7.5% yoy. Sunflower crop will be 8.96 million tonnes (8.75 and + 6.7%) and that of soybean 2.63 million tonnes (2.6 and + 5.6%).

- As of October 26, 2017. Brazilian farmers completed sowing on 30% of the areas planned for soybean cultivation. In Mato Grosso, the figure amounts to 67%.

- In 2017/18. China continues to be the world's major importer of soybean, according to CNGOIC. During the season soybean crop in the country is at 6 years high - 14.4 million tonnes. Even if the country boosts its soybean production by 60% to 19 million tonnes, this will represent the consumption in China for 2.5 months at an annual consumption of 111 million tonnes.

- In September, palm oil import to Russia reached 79,200 tonns at 63,700 tonnes in August and 89,700 tonnes in September 2016. In 2016/17. palm oil import toRussia dropped by 13.5% and is expected to remain the same in the new season.

- According to data from the Argentine Grain Exchange, soybean sowing in the country starts two weeks after the usual terms because of the heavy rainfall. As of October 26, 2017. 1.8% of the planned areas (18.1 million hectares) are sown with soybean.

- According to Oil World, in September, 1.06 million tonnes of soybean were exported from Argentina. China purchased 1.02 million tonnes of Argentinean soybean in September (0.8). At the end of September, soybean stocks in Argentina are 27.6 million tonnes, up by 3 million tonnes yoy.

- According to Oil World, in September Argentina exported 459,000 tonnes of soybean oil (336,000), incl. to India 167,000 (93,000) and to Bangladesh 73,000 tonnes (33,000).

- According to Oil World , 2.39 million tonnes of soybean meal (2.47) were exported from Argentina in September.

- The new soybean crop in the United States will be with an average protein content of 34-34.5% at a rate of 35%.