Grain Highlights

08 Nov, 2017
Grain Highlights
According to the latest forecast of the National Bank of Australia, the wheat crop in the country in the new season will be 18.7 million tonnes, which is 2.8 million below the USDA forecast.

Wheat

- In 2017/2018 wheat imports in South Africa will reach 1.9 million tonnes, which is twice as high as the previous year. The wheat areas decline by 3% and the crop by 13% due to the drought. During the season, wheat consumption in the country will be 3.22 million tonnes (3.19).
- Japan has announced an auction for the purchase of 132,390 tonnes of wheat from the United States, Canada and Australia with delivery from 21.12.2017 to 31.01.2018.
- According to a forecast of the Ministry of Agriculture of Russia, the wheat crop in the country in 2017 will be 82 million tonnes net weight.
- According to the latest forecast of the Australian National Bank, the country's wheat crop in the new season will be 18.7 million tonnes, which is 2.8 million tonnes below the USDA forecast.

- According to USDA, as of 05.11.201 the US winter wheat is sown on 91% of the planned areas at 90% last year and 91% on average for the past five years. In good and excellent condition are 55% of the crops (52% a week earlier and 58% last year).
- On Monday, Iraq has confirmed a 500,000 tonnes US wheat purchase deal. Earlier it was known that the purchase was 450,000 tonnes.

 

Grain

- The French Association AGMP predicts that in 2017 the corn crop in France will increase by 12% compared to the previous year to 13.9 million tonnes. The average crop yield will be 10.3 tonnes / ha at 8.6 tonnes / ha in 2016 and at a record of 10.4 tonnes / ha in 2014. The areas decrease by 5% compared to 2016, to 1.35 million hectares.
- According to Transagent, during the week 30.10.2017 - 05.11.2017,  370,093 tonnes of grain were exported from the Russian port of Novorossiysk, which is 28.5% less than the previous week and only 3.4% more than the previous year. 299,093 tonnes of wheat, 12,000 tonnes of corn and 66,000 tonnes of barley were exported.

- As of 03.11.2017 the farmers in Ukraine have harvested 52.5 million tonnes of grain from 13 million hectares, 14.4 million tonnes of corn from 2.9 million hectares (65% of the area) and 11.2 million tonnes of sunflower from 5.7 million hectares (96%) .
- According to USDA, as of 05.11.2017, 70% of the corn  areas are harvested in the United States at 84% a year earlier and 83% on average for the past five years.
- According to the latest FAS USDA forecast, in 2018/2019 the export of South Korea's corn will reach 2 million tonnees. The figure is 0.5 million tonnes less than the previous season, but 1.7 million tonnes above the USDA forecast and 1.61 million tonnes above the average. South Korea can buy 1.46 million tonnes of the production. The crop will reach 12 million tonnes.

 

Oil crops and vegetable oils

- According to Safras & Mercado, the forward sales of soybeans from crop 2017/2018 in Brazil currently reach 21.9 million tonnes, which is 19% of the forecast crop at 25% a year earlier and 29% on average in the recent years. As a result of the big rainfall, sowing took place only on 43% of the planned area at 53% in 2016. The crop is expected to reach 114.7 million tonnes.
- China's government plans to sign a new soybeans import deal with the US. This will happen during the visit of the President of China in the United States. In the first nine months of the year, US soybeans imports to China reached 20.7 million tonnes, 14.8% more than the previous year. In  2016 the deliveries were 38.2%, which is 40% of the Chinese imports.

- In the period January - October 2017 the export of sunflower oil from Ukraine reached 4.89 million tonnes. Only in October the export was 531,000 tonnes. Major buyers were India 1.73 million tonnes, China 518.900 tonnes and Spain 490.050 tonnes.
- According to USDA, as of 05.11.2017, in the US 90% of the soybeans is harvested at 92% a year earlier and 91% on average for the past five years.