Grains And Oilseeds News In Brief

12 Apr, 2017
Grains And Oilseeds News In Brief
According to an FAS USDA forecast, over the current season, the domestic wheat production in Tansania will be 1.0 mln tons, which is 0.01 mln tons less than the previous season.

In 2017 – 2018, consumption will be 1.095 mln tons. Domestic wheat production will not be over 100,000 tons. Over the current season, the wheat import in the country will be 0.9 mln tons of wheat while in the new season it will be 1.0 mln tons.

Japan has announced an auction for the purchase of 126,405 tons of milling wheat to be delivered between 21.05 and 20.07.2017.

Morocco has bought 132,000 tons of soft wheat for the production of subsidized flour.

On 11.04.2017, the Chinese government carried out an auction for the sale of 2.635 mln tons of the country's national reserves. 607,500 tons of wheat at 363.39 USD/ton were slod at the auction.

The Ministry of Agriculture of China has increased its forecast on this season's corn import in the country from 0.8 mln tons to 1.0 mln tons. Domestic corn consumption will be lower than previous expectations – 210.72 mln tons (211.22). Corn ending stocks will be 4.41 mln tons (5.11).

Brazilian State Agency Conab has increased its forecast on 2016 – 2017 soybean yield in the country for the fourth time running. Yield is now expected to reach 110.2 mln tons, which is 2.4% more than the March forecast. Conab increased its forecast on corn yield from 88.9 mln tons to 91.5 mln tons.

According to an FAS USDA forecast, over the new season corn import in South Korea will be 10.2 mln tons versus 9.8 mln tons in the current season. Wheat import will be 4.6 mln tons (4.56) including 2.4 mln tons of milling wheat(2.35).

According to an FAS USDA forecast, over the new season wheat yield in Turkey will be 18 mln tons (17.25 mln tons in the current season), barley yield will be 5.5 mln tons (4.75) and corn yield will be 5.5 mln tons (5.5). In 2017 – 2018, wheat import in the country will be 4.5 mln tons (4.0), corn import will be 1.5 mln tons (1.0) and barley import will be 0.2 mln tons (0.2).

Turkish importers have found a secret way to import Russian wheat. We cannot expect that import level will remain the same using unorthodox ways, but it will certainly not go down to zero. Over the week 28.03 – 04.04.2017, the export of Russian wheat to Turkey dropped by 17% to 174,600 tons compared with the previous week.