Wheat
- Iraq announced a new tender for the purchase of 50,000 tonnes of wheat from the United States, Canada, or Australia.
- During the week ending on October 31, 2017 only 18,000 tonnes of soft wheat were exported from the EU. From the beginning of the season, 6.59 mln tonnes of soft wheat were exported from the EU,by 25% less yoy. One reason for the decline is strong export of wheat from Russia.
- In 2017, the average protein content of the wheat crop is 12.03% at 12.21% in 2016.
Grain
- Jordan purchased 100,000 tonnes of feed barley of optional origin and supply in the first half of January 2018 at price of 232 USD / mt, C & F. A new tender for the purchase of 100,000 tonnes of feed barley of optional origin and delivery March 1 - 30, 2018 is announced.
- Importers of corn in Egypt are interested in buying Ukrainian production. They are looking for small batches that will satisfy demand until January, when Argentina will come out on the market with corn, new crop. Last year, Egypt purchased corn from Argentina and Brazil in batches of 50,000 - 60,000 tonnes. Lots are larger than the current processing capacity and storage problem arises. By buying Ukrainian corn, it is not necessary to hedge futures transactions in Chicago, and there are no problems with storage. As of Ukraine, it is possible lots of 5,000-10,000 tonnes to be purchased. Now, due to declining corn prices, time frame for planning the trades is 3 months. Argentine corn is available at 180 USD / mt, C & F - Egyptian port, while Ukrainian is at prices 190 - 200 USD / mt, C & F.
- Japan purchased 14,300 tonnes of feed wheat and 205,000 tonnes of feed barley with delivery from January 31 to February 25, 2018. A new tender for the purchase of 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley are announced.
- As of November 1, 2017, in Belarus, 87,100 hectares under corn cultivtion (63,6% of the plan) are harvested, 698,800 tonnes of corn were harvested at average yield of 8.03 mt/ ha.
- From the beginning of the season to October 31, 2017 1.7 million tonnes of feed barley, were exported from the EU, which is 9% more than the previous season. During the period, 4.8 million tonnes of corn were imported to the EU, which is 72% more than the previous year.
- In October 2017. 1,811 million tonnes of Russian grain were exported from Russia's Novorossiysk port , which is 23.8% more than September and 67.5% more than in October 2016. 1,486 million tonnes of wheat, 142,615 tonnes of barley and 182,473 tonnes of corn were exported.
- According to forecast of the Russian Grain Union, an export of 55 million tonnes of grain os needed in order the grain surplus in Russia to be liquidated, and that can not be achieved this year. The maximum export will be 44-45 million tonnes given a good export demand.
Oil crops and vegetable oils
- Soybean harvest in the United States is lagging behind its multiannual level. At the end of last week, 85% of the areas were harvested at 85% yoy and 84% on average for the past five years. Data suggest poor quality - a reduced protein content. Problems are associated with the heavy rainfall at the end of the season.
- Sunflower harvest in Russia is significantly slowing down compared to recent years. According to data from the Ministry of Agriculture of Russia, as of November 1, 2017. 5.25 million hectares are harvested (67.3% of the area) at 6.14 million hectares (82%) in 2016. SovEcon lowered its forecast for sunflower crop in Russia in 2017 by 0.1 million tonnes compared to the previous forecast to 10.3 million tonnes.
- According to Oil World, in 2016/17 Turkey imported 611,000 tonnes of sunflower at 436,000 tonnes in 2015/16. The rapeseed import reached 308,000 tonnes (32,000) and that of soybean 2.23 million tonnes (2.4). Import of sunflower oil was 801,000 tonnes (766,000) and that of palm oil 633,000 tonnes (620,000). Import of soybean meal was 1.18 million tonnes (0.9) and that of sunflower meal 964,000 tonnes (815,000).
- In 2017/18. rapeseed areas in India will drop by 20% compared to the previous season due to unfavorable natural conditions and low margin of crop processors. In the current season the rapeseed price is 15% lower than the previous year.