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.
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.
