From the beginning of the wheat purchase campaign the State Fund of India has concluded contracts for delivery of over 28 mln. tonnes of the crop. Purchase of total of 33 mln. tonnes of wheat is planned. Some analysts expect that the plan will not be reached.
On May 16th, 2017. The Taiwanese MIPA Association purchased 65,000 tonnes of Brazilian corn for August - September shipment at December contract price in Chicago + 0.847 USD/mt. At the previous auction held on May 3rd, 2017 65,000 tonnes of corn were bought, probably from Argentina.
The Federal Statistical Office of Germany specifies the areas under winter crops cultivation in the country of 2017 harvest. Winter wheat is sown on 3.16 mln. ha (+ 0.9%), winter rapeseed on 1.31 mln. ha (+ 1%).
According to the Ministry of Agriculture of Argentina, in the first quarter of 2017, wheat flour production in the country reaches 1,024 mln. tonnes or 10% more than the same period in 2016. Due to the floating exchange rate, Argentinian production is competitive on the world markets, which has affected export.
Sowing of spring crops in Russia is completed on 26.3 mln. ha or 49.9% of the plan, given 28.9 mln. ha in 2016. 15.6 mln. ha (50.2% and 17.3) are under spring grain crops cultivation.
Egyptian state-owned GASC raised the requirements for protein content in wheat purchased by 0.5%. French wheat must contain 12% protein and the one from Russia, Ukraine and Romania – 12.5%.
Japan is looking to buy 115,500 tonnes of milling wheat from the United States or Canada.
Last week, farmers in Argentina harvested 18% of the areas under soybean cultivation or 66% in total, which is by 15% more than the previous year.
