WHEAT

- Oct 27 - Argentina registered 99,930 MT of wheat for export

- Mexico has reached agreement on a phytosanitary protocol to import wheat from Argentina, and one trial shipment is scheduled for later this year

- For the first time since 2004 China has cut its 2018 state wheat purchase price to 2,300 RMB/mt (346 $/mt) from this year's level of 2,360 RMB/mt

- Russia’s Ag Min said Russia exported about 15.844 MMT of grain between July 1-Oct 25, 2017/18, up by 26.7% from 12.504 MMT a year ago, including:

  • wheat – 12.25 MMT (10.146 MMT in 2016/17);
  • barley – 2.356 MMT (1.405 MMT);
  • corn – 1.149 MMT (892 TMT);
  • others – 89 TMT (62 TMT)

- Russia has 3,967,600 MT of grain in its federal intervention fund as of Oct 27 vs. 3,413,400 MT a year-ago

- Russian farmers harvested 87.82 MMT of wheat from 98.9% of the planned area as of Oct 27, up from 75.75 MMT a year ago. Yields totalled 3.22 mt/ha up from 2.79 mt/ha a year ago

- Russian farmers have planted 16.63 million hectares (95.5% of the planned area) of winter crops as of Oct 27, up vs. 16.59 mln ha a year ago

- Kazakh farmers harvested 22.09 MMT of all grains as of Oct 28, up from 21.506 MMT a year ago. Yields totalled 1.44 mt/ha down from 1.52 mt/ha a year ago

- FranceAgriMer estimated winter wheat planting 63% done as of Oct 27, ahead of last year’s pace of 57%. Also French farmers have planted 4% of durum as of Oct 23 vs. 5% at the same time a year ago

- European Commission (EC) raised its estimate for 2017 EU usable soft wheat production to 141.5 MMT from 140.4 MMT last month (133.7 MMT last year). EU's executive kept its EU soft wheat exports forecast at 27 MMT in 2017/18, up from 25.1 MMT in 2016/17. Soft wheat inventories in the region are forecasted to total 11.6 MMT (10.5 MMT – previous estimate) by the end of June 2018 vs. 10.1 MMT in 2016/17

CORN

- Oct 27 - USDA announced export sales of 132,000 MT of US corn for delivery to Spain during 2017/18

- Oct 27 - Argentina registered 251,580 MT of corn for export

- Oct 27 - China sold 1,756,420 MT of 2013, 2014 corn from state reserves, or 46.7% of the offered amount (3,759,467 MT), at average price of 1,424 RMB/mt (214 $/mt)

- FranceAgriMer estimated French corn condition as of Oct 23 as 81% in good to excellent, unchanged from the prior week and well above the year-ago score of 53%. French farmers harvested 76% of corn as of Oct 23 vs. 56% a week ago and 57% a year ago

- FranceAgriMer estimated winter barley planting 76% done as of Oct 23, ahead of last year’s pace of 72%

- EC lowered its 2017 EU corn harvest forecast to 58.5 MMT from 59.1 MMT last month (60.8 MMT in 2016). Projected imports in new season kept at 15.0 MMT (13.6 MMT in 2016/17). EC cut its forecast for 2017/18 corn ending stocks to 14.2 MMT from 14.9 MMT previously (15.6 MMT in 2016/17)

- EC trimmed its 2017 EU barley harvest outlook to 58.0 MMT from 58.1 MMT last month, down from 59.6 MMT in 2016. Projected exports in new season were kept unchanged from prior month at 7 MMT (8.8 MMT in 2016/17). EC lowered its forecast for 2017/18 barley ending stocks to 6.2 MMT from 6.3 MMT previously and vs. 5.8 MMT in 2016/17

- Russian farmers harvested 8.27 MMT of corn from 59.4% of the planned area as of Oct 27, down from 8.88 MMT a year ago. Yields totalled 4.81 mt/ha vs. 5.57 mt/ha a year ago

- Russian farmers harvested 21.53 MMT of barley from 97.4% of the planned area as of Oct 27, up from 19.04 MMT a year ago. Yields totalled 2.79 mt/ha up from 2.35 mt/ha a year ago

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 corn acreage at 5.4 mln ha (5.1 mln ha in 2016/17). Exchange estimates 32.8% of the crop has been planted as of Oct 25, behind of last year’s pace (35.9%)

SOYBEAN

- Oct 27 - USDA announced export sales of 238,000 MT of US soybeans for delivery to China during 2017/18

- Oct 27 - Argentina registered for export 13,002 MT of soybean oil and 34,153 MT of soymeal

- Oct 27 - China failed to sell soybeans from state reserves; at the auction was offered 84,428 MT of 2013 soybeans

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 soybean acreage at 18.1 mln ha, down 5.7% from the previous crop year

- AgRural upped its estimate of Brazilian soybean area to record 34.655 million hectares from 34.563 mln ha previously and up 2.2% from last year with 30% of the crop was planted as of Oct 26, matching 5-year average but behind of last year’s pace of 41%. AgRural raised its forecast of 2017/18 soybean production to 110.2 MMT from 109.9 MMT previously, but down from 114.1 MMT last year

- Indonesia will maintain export tax for crude palm oil at zero for November, seventh consecutive month, as the CPO reference price is seen at below the 750 $/mt

- Palm oil production in Malaysia is expected to increase this year to 20 MMT (17.3 MMT in 2016) and to 20.5 MMT in 2018

- EC kept its 2017 EU rapeseed harvest estimate at 22.3 MMT, up 10.9% from 20.1 MMT in 2016

- EC maintenance its 2017 EU soybean harvest view at 2.7 MMT, up 7.9% from 2.5 MMT in 2016

- EC lowered its 2017 EU sunflower crop forecast to 9.0 MMT from 9.2 MMT in September, up 6.4% from 8.5 MMT in 2016

- Russian farmers harvested 7.84 MMT of sunseed from 64.7% of the planned area as of Oct 27, down from 8.93 MMT a year ago. Yields totalled 1.55 mt/ha vs. 1.61 mt/ha a year ago

- Russian farmers harvested 2.81 MMT of soybeans from 69.5% of the planned area as of Oct 27, up from 2.66 MMT a year ago. Yields totalled 1.57 mt/ha vs. 1.6 mt/ha a year ago

- Russian farmers harvested 1.54 MMT of rapeseed from 90.2% of the planned area as of Oct 27, up from 1.07 MMT a year ago. Yields totalled 1.74 mt/ha vs. 1.21 mt/ha a year ago

- Buenos Aires Grain Exchange expects Argentina’s 2017/18 sunflower seed acreage will rise to 1.8 mln ha (1.7 mln ha in 2016/17). About 50.6% of the crop has been planted as of Oct 25 vs. 49% this time last year