International

Fastmarkets reports that as at October 7, Russia’s 2024-25 wheat harvest was 93 percent complete, yielding more than 83.8 million tonnes (Mt), with average yields estimated at 3t/ha, down 11pc year on year. The figure includes 3.3Mt from the occupied Ukrainian territories of Kherson, Zaporizhzhia, Donetsk People’s Republic, and Luhansk People’s Republic. Russia’s barley harvest was 93pc complete, at 17.2Mt, with average yields estimated at 2.5t/ha, also down 11pc. The corn harvest is 44pc complete, yielding 5.1Mt, with average yields estimated to be down 25pc. Russia’s rapeseed harvest was 79pc complete, yielding 4.3Mt, with 84,000t coming from occupied Ukrainian territories. Sowing of the 2025-26 winter grain crop is estimated at 59pc complete, including winter wheat on 10.2M ha, down 14pc year on year, winter barley is on 95,900ha, up 32pc, and winter rapeseed is on 682,400ha, up 22pc.

According to TASS, Russia’s cumulative July-September wheat exports are at 14.73Mt vs 15Mt in 2023. September wheat exports are estimated at 5.26mmt, below the 5.48Mt shipped in September 2023. Wheat exports to Egypt increased by 800,000 to almost 2.9Mt, which fully offset the decrease in exports to Turkey. “The import ban did not stop the import of wheat to this country, as it was unloaded in port warehouses (from where it will be allowed to be imported into the country after October 15) or re-exported to Middle Eastern countries,” the Rusagrotrans analytical center noted.

Brazil’s Conab reports that as at October 6, 2024-25 first (full-season) corn planting is 26pc complete vs 27pc at this time last year. Recent rain across Rio Grande do Sul was beneficial for crop development, while in Minas Gerais, growers were waiting for rain to begin sowing in dryland areas. Fieldwork in Parana was nearly 75pc complete, with recent rainfall beneficial for both crop development and restoration of soil-moisture levels. Soybean plantings are seen at 5pc complete vs 10pc this time last year. Beneficial rains in western and southern Mato Grosso enabled farmers to plant in dryland areas. In Parana, good soil moisture levels aided crop development, while farmers were preparing fields in Rio Grande do Sul. Dryness hampered fieldwork in Minas Gerais. The current wheat harvest is seen as 37pc  complete vs 41pc this time last year. Despite adverse weather, farmers succeeded in applying insecticides and fungicides in Rio Grande do Sul as overly wet conditions increased the presence of diseases. Threshing in Parana state was more than 60pc complete, albeit with recent weather adversely affecting productivity. The crop quality in Sao Paolo was termed good.

AgRural Brazil estimates that as at October 3, 2024-25 soybean planting was 5pc complete vs 10pc in the previous year), with progress in Mato Grosso, the major producing state, at the slowest pace since 2015-16 due to warm temperatures and limited rainfall. The first, or full-season, corn sowing in the centre-south is estimated at 37pc complete.

As at the end of September, Egypt’s cumulative wheat imports for the 2024 calendar year are estimated at 10.8Mt, against 8.3Mt for Jan-Sep 2023, including 8Mt from Russia and 1.5Mt from Ukraine

US private exporters reported sales of 166,000t of soybeans to China during the 2024-25 marketing year.

Australia

Canola bids in the east of Australia were well supported yesterday, up A$5-$15/t, with non-GM bids at around $756/t and the GM bid closing the spread slightly at around $716/t. Wheat bids where steady at around $353/t and barley $308/t.

In Western Australia, canola bids made it to over $800/t yesterday, with GM canola bid around $740/t. Wheat bids were unchanged at around $365/t and barley $316/t.

The hits keep on coming with another cold night for parts of Victoria with temperatures getting down to -3.5 degrees Celsius in some parts of the Central Highlands, Barwon, and Western District regions. The impact of this frost event will be become known in coming days.