Grains And Oilseeds News In Brief

On 06.04.2017 Jordan purchased 50,000 tons of random origin wheat at 200 USD/ton C&F to be delivered in the first half of November.

In 2017 – 2018, Saudi Arabia will increase corn import by 400,000 tona versus the current season to 4.3 mln tons, according to USDA's latest forecast. Also, barley fodder import will go down to a 6-year minimum of 8 mln tons.

Heavy rain in the corn belt of Argentina has delayed cron harvesting, according to information from Buenos Aires Grains Stock exchange. Over the past week, farmers have harvested 4% of corn areas and, as of 6.04.2017, a total of 15% of the areas, which is 3% below last year's level.731,700 tons of corn have been harvested with average production of 8,790 kg/hectare. The new soybean yield harvesting will commence in the next few weeks, which will further delay corn harvesting.

On 6.04.2017, Algeria bought 450,000 tons of soft wheat at about 200 USD/ton C&F. France will be the most likely supplier.

Over the current year, corn sowing in France started earlier than usual according to information from FranceAgriMer. As of 3.04.2017г 6% of the planned corn areas have been sowed. 90% of soft wheat areas are in good or excellent condition versus 90% a week earlier and 92% a year earlier. 85% of the winter barley areas are in the same condition (85% and 91%).

According to a CNGOIC forecast, this season's corn import in China will reach 2 mln tons versus 1 mln tons in the previous forecast. In March, consumers in China purchased large amounts of imported corn because domestically-grown corn increased its price at the local markets. During 2015 – 2016 corn import in China reached 3.17 mln tons.

Kuwait bought 45,000 tons of barley fodder from Australia or Argentina to be delivered in May at 195 USD/ton C&F.

Indonesia purchased 60,000 tons of 11.5%-protein Ukrainian wheat at 195 USD/ton C&F.