Traders focus on the seed companies in the world
in the absence of fundamental news, traders focused on weather factors and the condition of crops.
Dry weather in the United States stopped the pace of sowing of wheat. According to the USDA, as of October 1, 2018 under the crop was planted, 36% of the planned areas. Given that a week field work progress is 12%, this result is significantly lower than last year - 41% and the average five-year rate is 43%.
In Ukraine for the harvest of the 2018 winter sown 3.5 million hectares, representing 48% of the planned 7.2 million hectares, in particular:
- wheat and triticale 3.3 million hectares (53% of the planned 6.1 million ha),
- barley 114 thousand hectares (12% of the planned 926 thousand hectares),
- rye 96 thousand hectares (60% of the planned 161 thousand hectares).
the Ministry of agriculture of the Russian Federation reported that the drought conditions for winter crop sowing are not the best. Seeds are sown in dry dthe soil that can create risks for its germination. As 03.10.17 winter sown 13.4 million hectares, which is 15% higher than in the same period last year.
In Argentina the next decade, weather forecasters promise dry weather, which will improve the situation with the sowing of soybeans and corn, as designated planting areas are flooded powerful rainfall that came during the last months. In the coming weeks, farmers will start sowing.
According to the forecast of experts of Buenos Iresco Grain exchange as a result of prolonged rainfall, the acreage under soybean in the 2017/18 season will be reduced by 5.7% and the next harvest will amount to 54.5 million tonnes and the corn Crop is estimated at 41 million tonnes.