Chinese demand for infant formula has remained strong in 2017, despite rising dairy prices. For the first five months of 2017, Chinese imports of infant formula amounted to 98,500t, which is 26% ahead of the same period in 2016. The value of these imports has also increased this year to €1.3bn.

Brazilian live cattle exports for June exceeded 25,000 head, which was a 53% increase compared with the same month last year. More than 60% of these cattle were shipped to Turkey, which brings total live cattle exports from Brazil to Turkey to just under 62,000 head in the first six months of 2017.

Research institute Stratégie Grains has cut its forecast for the EU wheat harvest this season by 900,000t to just under 141m tonnes. This is the third consecutive month the institute has cut its wheat harvest outlook in Europe as dry weather in France and Spain looks set to hit yields.

Despite dryness in some important grain belts of the US, the US Department of Agriculture (USDA) has revised upwards its harvest projections for 2017 for both corn and soya bean. The USDA has increased its forecast for corn production this year to 362m tonnes, while soya bean production is set to increase to 116m tonnes.