Grains Highlights

04 Oct, 2017
Grains Highlights
According to latest USDA forecast, at the end of 2017 – 2018 corn stocks in China will amount to 79.2 million tonnes. That is 40% of the global stocks, but there is a 28% decline compared to last year.

Wheat

- As of October 1, 2017. in the United States, sowing is completed on 36% of the areas planned for wheat cultivationat 18% a year earlier and 43% on average over the past five years.

- According to Societe Generale's analysis, the cost of Russian wheat paid by farmers is on average 100 USD / mt. In certain regions, cost falls to 80-90 USD / mt.

- Japan announced a tender for the purchase of 109,900 tonnes of milling wheat from the United States and Canada for shipment from November 21, 2017 to Januaty 31, 2018.

- According to the latest forecast of the Russian IKAR Institute, in 2017, the wheat crop in Russia will be 82.5 - 83.5 million tonnes.

- Tunisia plans to purchase 75,000 tonnes of durum wheat and 25,000 tonnes of feed barley for October-November shipment.

- the US company Blumberg Grain will invest $50 million in the next two years to complete the second stage of the construction of grain storage facilities in Egypt. At the end of the project, Egypt will increase its storage capacity by 2.7 million tonnes and save $ 551 million annually.

 

Grain

- According to the latest USDA forecast, at the end of 2017 - 2018. corn stocks in China will be 79.2 million tonnes. That will be 40% of the global stocks, but the decline over the previous year will be as much as 28%.

- As of October 1, 2017. in the US, 17% of the corn areas were harvested at 23% last year and 26% on average over the past five years.

- On October 3, 2017. Tunisia purchased 25,000 tonnes of feed wheat of optional origin at  price of 209.55 USD / mt, C & F, that is comparable to a contract for wheat with protein content of 12.5% of Egyptian auctions.

- In September 2017. from the Russian port of Novorossiysk 1.463 million tonnes of grain were exported , which was 9.4% less than August 2017, but 57.6% more than September 2016. 1342 million tonnes of wheat, 88,303 tonnes of barley and 32,800 tonnes of corn were exported.

- According to the latest forecast of the Russian IKAR Institute, in 2017, corn crop in Russia will be 13.7 - 14.2 million tonnes given a previous forecast of 15.2 - 15.6 million tonnes. The total grain crop will reach 131.2 - 133.1 million tonnes.

- Prolonged rainfall in Brazil in September could lower the areas of summer crop corn by 20-25% according to the forecast of Rural Clima. According to the Conab forecast, the areas under cultivation will reach 5.48 million hectares. A total decline in corn areas is estimated at 10% - first and second crop.

 

Oil crops and vegetable oils

- According to market operators, Egypt's state-owned company GASC purchased 52,500 tonnes of vegetable oil for shipment from November 25 to December 10, 2017.

- In 2016 - 2017. the production of sunflower oil in Ukraine by large and medium-sized enterprises reached 5.33 million tonnes at 3.65 million tonnes a year earlier. Total production of the product reaches the record 6.4 million tonnes.

- According to a recent forecast of the Buenos Aires Grain Exchange, prolonged rainfall in Argentina will reduce the areas of soybean crops, 2017-2018 crop  by 5.7%, and the crop will reach 54.5 million tonnes. Corn crop will reach 41 million tonnes.