Grains And Oilseeds News In Brief

At the end of the last week, the authorities in the Chinese provinces of Heilongjiang and Liaoning, located in the country's corn belt, announced a decrease in the subsidies for corn producers and a rise for the soybean growers.

One of the major food companies of Sudan - Saiga Company, purchased 51,000 tonnes of US wheat on May 15th, 2017.

Prolonged drought and relatively high temperatures will destroy some of the crops in Spain. Harvest of winter grains will decrease by 51% compared to last year, down to 9.5 mln. tonnes according to Asaja. The areas under cultivation of ​​these crops is close to the the 2016 level - 5.7 mln. ha. Lack of rainfalls caused damage to 15 - 80% of the crops. In Castile and Leon (about half of the Spanish crop is grown there), 50-80% of the crops could be destroyed. According to weather forecasts, rainfalls will be minimal in the next three weeks, and temperatures will be high, which will further worsen the situation.

Iraq bought 50,000 tonnes of Australian wheat at price of 271.17 USD/mt, C&F.

From the beginning of the wheat purchase campaign, the State Fund of Egypt concluded contracts for the delivery of 1.7 mln. tonnes of wheat.

According to official data from the South African republic, last year's wheat yield in the country reached 1.91 mln. tonnes, slightly over the previous forecast, and it is the maximum for the past six years. In 2015 due to drought the yield was 1.44 mln. tonnes.

On May18th, 2017 Turkey will carry out an auction for the purchase of 180,000 tonnes of forage corn. Russian corn deliveries to Turkey are now subject to a 130% duty, but while the duty on wheat was revoked, the situation for the corn remained undefined.