Argentinian beef exports for October stood at 33,150t, which is 57% higher than the same month last year. For the first 10 months of 2018, Argentinian beef exports now stand close to 290,000t, which is more than 70% higher than last year.

For the month of October, Australian beef exporters shipped 99,000t of beef to world markets. In the 10-month period to the end of October, Australian beef exports stood at 962,000t, which is 12% ahead of the same period in 2017.

China imported almost 7m tonnes of soya beans for the month of October. In a major shift in trade flows, the US now accounts for less than 1% of soya bean trade with China. Instead, Chinese importers sourced 94% of October soya bean deliveries from Brazil.

Grain market analyst SovEcon has raised its forecast for Russian wheat exports for the 2018/19 season to 34.7m tonnes. This is up from the previous forecast of 34.2m tonnes. Russia’s total grain exports are pegged at 43m tonnes for 2018/19.