Grains And Oilseeds News In Brief

In September - October India will receive 800,000 tonnes of wheat from the Black Sea region. Indian millers are in a hurry to fill their stocks at low prices having into account the not so good quality of the domestic wheat.

In September, import will be 247,000 tonnes, which is the highest monthly level since February 2016. Five batches will be delivered from Ukraine. In October, deliveries of over 500,000 tonnes of wheat are expected. This will cover the needs of millers until the end of the year. A significant part was purchased at price of 200-210 USD / mt, C & F. With 10% of import duty, price of imported wheat is the same as that of with the domestic wheat. In 2017. wheat crop in India is at record high  - 98.38 million tonnes.

South Korea's Agro-Fisheries & Food Trade Corp announced two auctions for the purchase of 10,000 tonnes of GM soybeans for shipment from October 10 to December 12.

The Iranian government purchased 8,834 million tonnes of wheat from local farmers. The areas under grain crops cultivation in the country in 2017 are 12 million hectares, 52% of which are sown with wheat. Over the past three years, the areas has decreased by 600,000 hectares. Last year, farmers sold 11.5 million tonnes of grain to the government. In 2017 wheat crop is 14 million tonnes and domestic consumption 10 million tonnes.

Jordan canceled a tender for the purchase of 100,000 tonnes of milling wheat in the absence of offers.

Turkey announced a tender for the purchase of 60,000 tonnes of feed barley for shipment from September 15 to 25.

Analysts at CIMB Equities Research predict that the price of unrefined palm oil in Malaysia will be maintained at 2,600 ringits/ mt. In September, the price of the product will fluctuate within 2 400 - 2 700 ringits/ mt. Price may rise in the absence of labor force. In August 2017, the production of the product declined by 1% to 1.81 million tonnes. At the end of the month, stocks amounted to 2.6 million tonnes, up 13% from the previous year.