The latest data from the Ministry of Agriculture of Kazakhstan shows that as of October 13th, Kazakh grain farmers have harvested 15.1 million hectares of crops, accounting for 94.1% of the total area, with a harvest yield of 24.6 million tons. In addition, farmers also harvested 2.1 million tons of oilseed crops.

Kazakhstan's crop harvest reached 24.6 million tons, including corn, with a significant increase in supply, leading to downward pressure on prices. Combined with futures market data, corn contract prices have generally fallen, such as the settlement price of contract 2601 at 2,114 RMB/ton, a drop of 11 points, strengthening bearish expectations.

Oilseed crops harvested 2.1 million tons, and rapeseed supply increased, directly bearish on prices. Although there is no direct futures data, there is ample supply in the spot market, and prices are expected to come under pressure and decline.

The increase in rapeseed harvest, sufficient raw materials for rapeseed oil production, and expected supply growth have negatively impacted prices. Rapeseed oil futures data shows a price decline, such as the settlement price of contract 2603 at 9,818 RMB/ton, a drop of 98 points, supporting the bearish trend caused by supply pressure.

As a by-product of rapeseed processing, the increase in rapeseed supply has led to an increase in rapeseed meal supply, which is bearish on prices. Although there is no futures data, the spot market is expected to face increased downward pressure on prices due to sufficient raw materials.

The harvest of corn is large, the supply of corn starch raw materials has increased, production costs have decreased, and expected prices are expected to decline. Although there is no futures data, there is ample supply in the spot market, which strengthens the negative impact.

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