Grain Highlights

October IGC report highlights

IGC left unchanged its forecast for global wheat production in 2017/18 at 748 million tonnes, by 0.8% less than a year earlier.

Grain Highlights

For the first time form 2004, the Chinese authorities will lower the state prices for wheat. In 2018 price will be 246 USD/mt, by 2.5% less than 2017.

Grain Highlights

Saudi Arabia announced a tender for the purchase of 475,000 tonnes of hard wheat with protein content of at least 12.5% for December - January shipment.

Grain Highlights

According to analyst from Malaysia, in January 2018, the Malaysian palm oil will reach a price of 800 USD/mt, C&F Rotterdam.

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.

Grain Highlights

Iraq purchased 50,000 tonnes of US hard wheat at 299 USD/mt, C&F. Australian and Canadian wheat were offered at the auction as well, at 301.27 USD/mt, C&F the first and at 304.96 USD/mt, C&F the latter.

Grain Highlights

According to latest forecast of FAS USDA, in 2017 – 2018, wheat crop in Australia will reach 20 million tonnes, by 40% less than in 2016 – 2017 when a record of 35 million tonnes was set.

Grain Highlights

During the period July - August 2017 – 2018, 1.505 million tonnes of wheat were exported from Romania at 1.608 million tonnes yoy. Major customers are Egypt Jordan, Ethiopia, Sudan, Djibouti and SAR.

Grain Highlights

As of October 17, 2017 soybean oil stocks in China reached a record level of 1.6 million tonnes at 1.3 million tonnes a year earlier, according to CNGOIC. Increase is due to strong import od soybean and increased domestic production +12% yoy.

Grain Highlights

As of October 15, 2017, in the US,harvest is completed on 28% of the areas under corn cultivation at 22% a weak earlier, 44% a year earlier and 47% on average over the last 5 years.