Grains And Oilseeds News In Brief

15 May, 2017
Grains And Oilseeds News In Brief
Brazil's National Supply Company Conab raised its forecast for the soybean production in Brazil for the current season from 110.2 mln. tonnes to 113 mln. tonnes.

From the beginning of 2017 this is the fifth revision of the forecast. Growth of the average yield compared to last year amounts to 18.4%.

Over the past week the state of wheat crops in France had improved. As of May 8th, 2017. 76% of the areas under soft winter wheat cultivation (75% a week earlier and 87% a year earlier), 64% (62% and 78%) under hard wheat, 67% under winter barley are in good and excellent condition ( 68% and 85%), areas under spring barley cultivation 77% (77% and 94%). The development of wheat and winter barley crops is a few days ahead of the usual deadlines. Corn sowing is nearly complete. As of May 8th, 2017. 93% of the planned areas were sown with the crops (84% and 73%).

According to the Egyptian authorities, during the period April 15th - May 10th , 2017, the  Egyptian state fund purchased 1.15 mln. tonnes of wheat from farmers.

On May 12th, 2017 the government of China held an auction for the sale of 453,000 tonnes of corn of the 2011-12 crop from the state fund. 335,000 tonnes of corn were sold at price of 192.87 USD/mt. Imported corn of the same crop offered for sale at the auction but there were no buyers for it.

As of May 11th 2017 the spring sowing in Russia is completed on 20 mln. ha or 37.9% of the planned areas given 12.7 mln. ha in 2016. 11.8 mln. ha (38% and 13.7) are under grain cultivation, incl. spring wheat 2.5 mln. ha (18.8% and 3.5), spring barley 4.3 mln. ha (56.3% and 5.2), corn 2.1 mln. ha (57.2% and 1.9) and others. 3.6 mln. ha (49.5% and 3.8) are under sunflower cultivation.

On May 10th, 2017 Algeria purchased 470,000 tonnes of soft wheat and 75,000 tonnes of barley. The price of the wheat was 197.75 - 199 USD/mt, C&F, and of the barley 167 - 169 USD/mt, C&F. Most likely the grain will be delivered from the Black Sea region.

Farmers in the UK are worried about the lack of soil moisture. In April the rainfall rate was the lowest in the last 10 years. If there is no rainfall, in some places a gradual decline in yield potential will begin. Within three weeks there will be more accurate data on possible damage.