# MERCANTILE MarketInsight Blog, November 6, 2017 | Mercantile Consulting

> Mercantile's weekly blog reports that funds were net short about 50 million tonnes across grains, with Iraq buying 450,000 tonnes of US winter wheat. EU wheat exports were 26 percent lower than last year, and Chinese buyers took 480,000 tonnes of Canadian canola in October. Soybeans are expected to trade in a $9.50 to $10.00 range.

- Date: 2017-11-06 · published 2017-11-06T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/68084-mercantile-marketinsight-blog-november-6-2017-mercantile-consulting
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Lower EU wheat exports and steady Asian buying support export demand, but expected pressure on cash premiums from harvest selling points to softer physical prices. Soybeans are seen range-bound unless China buys more.

## Read by commodity

- SOY: neutral
- WHEAT: neutral
- CANMEAL: neutral

## Sources

- mercantileventure.com: https://mercantileventure.com/mercantile-marketinsight-blog-november-6-2017/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.