Grains And Oilseeds News In Brief

In the new season, areas under corn cultivation will reach 5.3 million hecatres at 4.8 million hecatres in 2016

Corn cost price is higher than that of soybeans. For this reason, soybeans are a major crop for farmers. In the new season, the corn areas are increasing due to drop in soybean price. With corn, even uncultivated land will be sown - 400,000 hectares. In 2017 - 2018, corn crop will be 46 million tonnes at 40 million tonnes in 2016-2017.

 

In September, Malaysia will leave the palm oil export duty of 5.5% unchanged. In August the duty was lowered from 6.5% to 5.5%.

 

In 2017 - 2018 soybean areas in Russia will be at record high - 2.6 million hectares, which is 16.9% more than the previous season. In the new season, soybean supply in the country will be at record high - 5.7 million tonnes (+ 6.1%). Soybean processing will also be at record high - 4.6 million tonnes (4.3).