Grains And Oilseeds News in Brief

Egypt will announce its decision for the batch of 63,000 tonnes of Romanian wheat with content of popy seeds more than the admissible quantity.

Egypt has not returned batches of wheat since the end of 2015.

 

On August 23, 2017 Japan failed to buy 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley. The next auction is scheduled for August 30, 2017.

 

Hurricane Harvey, the most powerful that hit the United States in the last decade, could stop export of wheat from ports in the Gulf of Mexico. Texas ports handle about ¼ of the US-exported wheat and a small share of corn and soybeans.

 

The Government of Indonesia extends the validity of zero export duties on unrefined palm oil by the end of September.

 

According to forecast by the Association of Wheat Producers and Exporters in Serbia, due to the severe drought in July and August, corn crop will drop to 4.5 million tonnes, at initially expected 8 million tonnes. The ending stocks of corn in the country are high in 2016 - 2017 - 5.7 million tonnes, which will make it possible not to import the crop. The domestic consumption of corn during the season will be 4.4 million tonnes.

 

In the first three weeks of August, 3.3 million tonnes of corn were exported from Brazil, up 113.2% from the same period in July and 111.5% more than in the same period of August 2016. By the end of the month, 5.4 million tonnes of corn (2.56 million tonnes in August 2016) will be exported from the country. In August, the average export price of Brazilian corn was 155.55 USD / mt at 175 USD / mt in early 2017.