Corn harvest in the US lags behind schedule significantly. As of October 29, 2017 harvest is completed on 54% of the areas given 73% a year earlier and 72% on average for the last five years. 66% of the areas are in good and excellent condition at 74% a year earlier.
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.
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.
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.
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.
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.
