International

Russia’s Deputy Ag Minister reported that 14.4 million hectares (Mha) of winter crops have been sown to date, with the total area expected be at least 20Mha. Despite earlier lagging by more than a million hectares, the pace of planting today is equal to that of last year in almost all regions, the ministry reported in a statement. 

UK-based price reporting agency Fastmarkets said Russian wheat harvest is estimated to be 97pc complete, yielding more than 85.8Mt, including 3.3Mt from occupied Ukrainian territories (Kherson, Zaporizhzhia, Donetsk People’s Republic and Luhansk People’s Republic). It reported barley harvest 96pc complete yielding 17.5Mt, maize 59pc complete at 7.3Mt with avg yields down 24pc and rapeseed 89pc complete, yielding 4.7Mt. It estimated 2025-26 winter sowing 76pc complete, including winter wheat on 12.5Mha (-12pc yoy), winter barley on 276,100ha (-1pc), and winter rapeseed on 707,000ha (+18pc). 

Food Corporation of India (FCI) reported that as at 1 Oct, wheat stocks were estimated at 23.8Mt (25.1Mt previous month, 24Mt previous year). The stocks are above the 1 Oct reserve requirement of 20.5Mt. 

Brazil national supply company Conab reported that as at 13 Oct, 2024-25 first (full-season) maize sowing was 29pc complete (30pc previous year). Rainfall slowed fieldwork in Rio Grande do Sul and Santa Catarina, but aided crop development and improved soil moisture. Recent rainfall was also beneficial for crops in Paraná. Soybean planting progressed to 9pc complete (19pc previous year) aided by rainfall, notably in Mato Grosso, Paraná, Minas Gerais and São Paulo. However, progress continued to lag in northern areas of Mato Grosso due to insufficient moisture. 2024-25 wheat harvest was 42pc complete (52pc). Despite unfavourable weather in Rio Grande do Sul during critical crop development phases, yields were satisfactory. In Paraná, where harvesting is more than 70pc complete, rainfall hampered progress. 

A vessel will reportedly load up to 70kt French feed wheat this week bound for Thailand. It would be the first French wheat full cargo shipment to Thailand since 2016; a combination cargo was shipped to Thailand and Vietnam in June 2024. 

Chinese Customs data shows Sept soybean imports at 11.4Mt, up 59pc year on year, with cumulative (Jan-Sep) imports at 81.9Mt, up 8pc. 

US private exporters reported the sale of 131kt soybeans to China and 120kt SRW wheat to Mexico during the 2024-25 marketing year.

Australia

Tuesday’s canola bids in WA gave up the previous day’s gains. The market was down A$5-10/t for both CAN and CANG. Cereals were largely unchanged with wheat at $375/t and barley at $318/t. 

In eastern Australia, canola bids were also down around $5-6/t to about $764/t for CAN and $712 for CANG. Wheat bids were down around $2-4/t to $354/t and barley bids were around $313/t. 

Rain across NNSW was heavy in some isolated areas which is not great timing. Heavy rain fell in a short amount of time and is likely to have caused some damage as rain is continuing to fall this morning. There is 15-25mm on the forecast for the next 4 days for NNSW and 15-50mm for central/southern NSW. The rain forecast for Victoria is 10-50mm over the next 4 days, and for SA 5-25mm, with the heavier totals expected in the southeast. Northern WA has 5-15mm forecast, with heavier totals closer to the coast. WA southeast is expecting 10-25mm.