Grains And Oilseeds News In Brief

24 Apr, 2017
Grains And Oilseeds News In Brief
The condition of winter crops in France keeps deteriorating due to the lack of humidity.

As of 17.04.2017, 85% of winter soft wheat are in good or excellent condition versus 89% a week earlier and 90% a year earlier; 75% of the hard wheat (78% and 84%) are in the same condition as well as 78% of winter barley (82% and 90%) and 85% of spring barley (86% and 94%). 57% of the planned corn areas have been sowed versus only 9% last year.

According to the latest FAS USDA forecast for 2017 – 2018, wheat export from Russia will reach 28 mln tons despite the expected yield decline, which will be 1.5 mln tons more than the current season. The new season wheat yield will be 66 mln tons (-6.5).

On 25.04.2017, Turkey will carry out an auction for the purchase of 44,000 tons of corn from the EU or Moldova, to be delivered between 28.04 and 10.05.2017. 65,000 tons of corn were purchased at the previous auction. It was bought from the EU and Serbia and will be delivered in April or May.

Since the beginning of the current campaign, India's state fund has bought almost 15 mln tons of wheat from the local farmers, which is 12% more than the previous year. The purchase of 33 mln tons of wheat is being planned during the season. 22.96 mln tons of wheat were purchased in the past season versus the planned 28 mln tons.

The weather in Argentina was dry over the past week. According to information from the Buenos Aires Grain Stock Exchange, the farmers have harvested 4.3% of corn areas over the week and 22.6% since the start of the campaign. 1.092 mln tons of corn have been harvested with average production of 8,840 kg/hectare.  

South Korean Association KFA has announced an auction for the purchase of 130,000 tons of corn of random origin, to be delivered in Sptember. On 19.04.2017 KFA bought 60,000 tons of corn at 192.6 USD/ton C&F to be delivered in July and 60,000 tons of corn at 191.5 USD/ton C&F to be delivered in August.

Argentinian port workers are planning to carry out a series of strikes and to block the port of Rosario in the next few weeks.

South Korean company NOFI has bought 207,000 tons of corn of random origin, to be delivered in September at the price of 184.46 – 186.4 USD/ton C&F.

Over the period January - February 2017, 4.454 mln tons of grain were exported from Russia, which was 10.5% less than last year according to information from Rosstat. The export included 3.207 mln tons of wheat (-10.6%), 938,000 tons of corn (-2.6%), 251,000 tons of barley (-33.5%) and 34,900 tons of flower (-2.9%).