Total grain production in the EU for 2018 is likely to be just over 281m tonnes, which is down 6%, or more than 19m tonnes, on 2017 production. The decline was led by a 14m tonne decline in soft wheat production across Europe, while barley production was down 2.3m tonnes.

Brazil could outstrip the US as the world’s largest soya bean producer this year if current favourable weather conditions continue in South America. Brazilian soya bean production has been forecast to hit 130m tonnes, thanks to good weather so far this growing season.

US beef exports for September stood at just under 118,000t, which is 7% higher than the same month last year. For the first nine months of 2018, US beef exports stood at 943,000t, which is 13% ahead of 2017 exports for the same period.

The most recent forecast for Australian wheat production for 2018 has been slashed to below 17m tonnes as a result of recent drought conditions. In September, Australia’s agriculture ministry had forecast wheat production to be above 19m tonnes.