Grains and Oilseeds News In Brief

On 26.04.2017 Algeria will carry out an auction for the purchase of at least 50 000mt hard wheat with optional origin for June shipment.

According to government information from Egypt, wheat stocks in the country are sufficient to meet domestic demand in the next 2.6 months. Currently a purchase campaign is carried out in the country for buying up the crop from local farmers. Thus stocks will rise to an acceptable level. Up to now, 3.7- 3.8 million tonnes of wheat have been purchased according to plan targeting from 4 to 4.5 million tonnes for the entire season. The campaign will end on 15.07.2017.

A group of private Israeli companies have announced a tender for the purchase of 100 000 tonnes of corn, 45 000 tonnes of forage wheat and 30 000 tonnes of forage barley of optional origin , to be delivered from June to August.

Argentinian farmers are not in a hurry to sell their new soybean crop against the backdrop of low prices. Only 500 000 tonnes of soybean were sold during the week and only 9% of the new yield by the beginning of the week. The old crop is sold at 84%. The harvest flows slowly - so far only 16% of the areas.

On 21.04.2017 South Korea's KFA carried out a tender for the purchase of 130 000 tonnes of corn of optional origin. 60 000 tonnes of corn were actually bought at a price of 184.98 USD/mt, C&F.

According to USDA forecast, which coincides with the forecast of local analysts, during the current season Paraguay will collect the maximum soybean yield for its entire history - 10.1 million tonnes. The country's Ministry of Health expects a yield of 11 million tonness. The average soybean yield will be higher than in Brazil.