International

European agricultural trade association Coceral cut its EU+UK soft wheat production estimate by 8.5Mt from its June forecast, now seen at 126Mt, down 10pc year on year. Barley production was revised down 2.3Mt to 57.6Mt and corn down 4.5Mt to 60.3Mt. 

Altai became the fifth Russian region to declare a state of emergency this month due to crop problems caused by extreme weather, with too much rain causing waterlogging. 

Buenos Aires Grain Exchange reported that for the week ending 18 Sept, hot and dry conditions and declining soil moisture led to 2024-25 wheat condition ratings declining to 71pc good/excellent (80pc previous week, 78pc previous year). Conditions were generally good in Buenos Aires and La Pampa provinces. Maize sowing was 7pc complete (5pc previous year). Good progress was noted in south-central Santa Fe, southwestern Entre Ríos and northeastern Buenos Aires, while fieldwork was delayed by limited moisture in Cordoba. Sorghum conditions rated 85pc good/normal. 

FranceAgriMer noted that as at 16 Sept, 2024-25 maize condition rated 80pc good/excellent (79pc previous week, 81pc previous year). 

According to Ukraine’s Ag Ministry, 31.9Mt total grain had been harvested as of Friday, compared with 29.8Mt harvested over the same period last year, including 22.3Mt of wheat (22.2Mt) 5.5Mt of barley (5.9Mt) and 2.4Mt of corn (83kt).  

Of the record 12.14Mt of soybeans China imported in August, 84pc was Brazilian origin and less than 2pc US. Between January and August China imported 53.8Mt soybeans from Brazil (up 217pc) and 12.8Mt from the US (down 73pc).  

The Saskatchewan Crop Report for the week ending 16 Sept noted that rainfall in many areas briefly interrupted harvest, but improved soil moisture in dry areas. 2024-25 harvest is now 74pc complete (82pc previous year), including winter wheat at 100pc, durum 93pc (94pc), barley 88pc (89pc), spring wheat 81pc (88pc) and canola 47pc complete (65pc). 

Tunisia’s state grains buyer reportedly purchased 125kt of milling wheat, at US$245.83-247.83/t c&f and 100kt of durum at $336.50-346.49/t c&f, for October/November shipment. 

US private exporters reported sales of 121kt of soybeans to China during the 2024-25 marketing year.

Australia

Western Australian canola bids ended the week largely unchanged, at around A$760/t and $684/t for GM. Wheat bids lost $2/t to $355/t and barley was bid $315/t FIS.

In the east of Australia, canola bids were steady on Friday at around $708/t and $668/t for GM. Cereals were largely unchanged, with wheat bid $344/t and barley $317/t. 

Hay continues to be cut throughout parts of central and southern NSW and parts of SA because of dry conditions and frost damage. The extent of the damage caused by the frost at the beginning of last week will be become better known this week.

The Grains Industry of WA (GIWA) revised 2024-25 winter crop production down 580kt 16.86Mt in its Sept Crop Report released on Friday. It noted the lack of spring rain had bitten into yield prospects, with wheat most affected. The report said the state’s crop was in very good shape until recently, and the potential tonnage was climbing from the previous GIWA Crop Report in early August to a point where WA was looking at a very good year. It said the complete lack of finishing rains had now put a question mark over final tonnage. Wheat production was revised down 750kt to 9.3Mt, barley unchanged at 4.27Mt and canola was revised up 100k to 2.22Mt.