Grains And Oilseeds News In Brief

03 May, 2017
Grains And Oilseeds News In Brief
On 2.05.2017 the government of China carried out an auction for sale of 2,703 mln. tonnes of wheat from the state reserve. 419 526 tonnes of wheat were sold at price of 363.51 USD/mt.

From the beginning of the current wheat purchase campaign in Egypt, the authorities have  purchased 359 565 tonnes of wheat from the domestic market so far. A year earlier the purchases amounted to 395 523 tonnes. The purchase of  3.8 mln. tonnes of wheat is planned for the season.

The Taiwan Flour Mill Association has announced an auction for the purchase of 95 750 tonnes of milling wheat from the United States.

Egypt's state-owned company GASC is planning to purchase at least 30 000 tonnes of soybean oil with delivery from 20.06 to 10.07.2017. The company has announced an auction for the purchase of 30 000 tonnes of soybean oil with delivery from 20.06 to 10.07.2017.

The Government of India has not planned yet to raise the import duty on wheat from 10% to 25%. For the past season 5.5 mln. tonnes of wheat were imported into the country mainly due to the zero import duty.

From the beginning of the wheat purchase campaign in India, the state fund has bought 24.6 mln. tonnes of wheat, which is 18% more than the previous year. Last year, 22.9 mln. tonnes of wheat were purchased.

Strategies Grains analysts have lowered their forecast for rapeseed yield in the EU in 2017-2018 by 340 000 tonnes to 21.4 mln. tonnes due to the dry weather in the region.

According to Oil World forecast, in the second half of the season, the world sunflower oil export will decrease to 4.3 mln. Tonnes, compared to 5.6 mln.tonnes for the first half of the season. For the whole season the export of the product will amount to 9.8 mln. tonnes (9.6). In the second half of the season, export from Russia and Ukraine will amount to 3.1 mln. tonnes (2.8 mln. tonnes in the previous season).  0.4 mln. tonnes of sunflower oil (0.33) will be exported from Argentina.

From January to March, 590 000 tonnes of soybean were imported into Argentina compared to 140 000 tonnes a year earlier. Paraguay has delivered 577 000 tonnes of soybean, and Uruguay 13 000 tonnes. For the whole season, the soybean import in the country will grow to 1.5 mln. tonnes, which will be the maximum result for many years back.