China and the United States signed an agreement for supply of 12.5 million tonnes of soybeans to the Asian country worth over $ 5 billion. Last year the agreement was at worth $ 4 billion. The talks included representatives of 11 companies.
Independent experts from Australia have sharply lowered their forecast for wheat crop in the country in 2017-2018 to 19 - 21 million tonnes. ABARE's June forecast was for 24.1 million tonnes. The reason for the correction is the prolonged drought in large areas of the country.
So far, Egyptian authorities have purchased 3.75 million tonnes of wheat from local farmers. Annually, 9.5 million tonnes of wheat are needed for the production of subsidized bread in the country. It is planned to 5.5 million tonnes of wheat to be imported, as the remaining quantity will be of native origin.
New wheat crops in Spain and Italy will be the lowest for the past 20 years. In the main grain-producing regions of Spain, the losses reach 60-70%.
The Government of Malaysia reduced the export duty on unrefined palm oil from 6.5% to 5.5%.
The Egyptian state-owned GASC announced a tender for the purchase of 30,000 tonnes of soybean oil and 10,000 tonnes of sunflower oil for September 5th - 20th shipment.
The South Korean company NOFI held a tender for the purchase of rapeseed meal. The lowest price is offered for 12,000 tonnes of Indian rapeseed meal - 248.75 USD / mt.
