Grains And Oilseeds News In Brief

On 26.04.2017 Tunisia purchased 75 000 tonnes of soft wheat at price 173.85 – 189.58 USD/mt, C&F.

On 26.04.2017 South Korea's MFG purchased 135 000 tonnes of wheat of optional origin at price 186.7 - 187.05 USD/mt, C&F.

According to Oil World, Pakistan will increase the palm oil import this season up to 2.74 mln. tonnes , compared to 2.68 million tons last season. Growth is due to reduced stocks of palm oil in the state reserve. Purchases of soybean oil will decline to 170,000 tonnes (257,000). The large drop is due to the reorientation to soy processing in the country. This season the import is expected to reach 1.1 million tonness. In the first quarter of 2017, only 13 000 tonnes of palm oil have been imported in Pakistanat compared to 68 000 tonnes a year earlier.

In Russian ports grain cargo processing dues are sharply decreasing. Previously they amounted to 27-28 USD/mt and currently to 16-17 USD/mt.

Japan cancelled an auction for the purchase of 120 000 tonnes of forage wheat and 200 000 tonnes of forage barley.

The Taiwanese MIPA Association purchased 65 000 tonness of corn most likely from Brazil at September contract price + 1.0537 USD /bushel, C&F in Chicago.

On 26.04.2017 Chinese authorities carried out an auction for the sale of 93 300 tonnes of wheat imported earlier. 4 200 tonnes of wheat were auctioned at price of 367.68 USD/mt.

SES raises again its forecast for corn yield in South Africa for the season up to 14,536 mln. tonnes (previous forecast 14.32 mln. tonnes  and 7.779 mln. tonnes in the previous year), incl. white corn 8,618 mln. tonnes (8,513 and 3,407). The average corn yield of corn will reach  5,53 mt/ha. The harvest will start in June.

The Indian government is actively buying up new crop wheat from local farmers. So far 20 mln. tonnes have been purchased, by 11% more than last year. It is planned 33 mln. tonnes of wheat to be acquired from the market.