Grain Highlights

14 Nov, 2017
Grain Highlights
According to Oil World, palm oil stocks in Malaysia at the end of 2017 will reach 2.3 million tonnes at 1.67 million tonnes at the end of 2016 and 2.63 million tonnes at the end of 2015.

Wheat

- Tunisia purchased 100,000 tonnes of milling wheat with protein content of 11.5% and at price of 206.93 - 208.72 USD / mt, C & F, 100,000 tonnes of hard wheat (289.65 - 291.17) and 75,000 tonnes of feed barley (207.98).

- Algeria purchased 210,000 tonnes of wheat of optional origin and delivery in December. Most probably the wheat is from France and its price is 210.50 - 211.75 USD / mt, C & F.

- In 2017/18 wheat crop in Brazil will reach 4.56 million tonnes, which is 32% less than the previous season. Domestic wheat consumption will be 11.2 million tonnes and import - 7 million tonnes according to latest forecast of Soybean & Corn Adviser. Wheat is of low quality as a result of precipitation and about 500,000 tonnes of it will be used as feed.

 

Grain

- Russia's Ministry of Agriculture confirmed its forecast for export of grain from the country in 2017/18 - 45 million tonnes. In 2016/17 the record 35.5 million tonnes of grain were exported, incl. 27.1 million tonnes of wheat.

- In the first 10 months of 2017 37 million tonnes of grain were exported from Russian seaports , which is 31.3% more than the previous year.

- Iran announced a tender for the purchase of 200,000 tonnes of feed barley and 200,000 tonnes of corn with delivery in January - May 2018.

- Turkey announced a tender for the purchase of 108,000 tonnes of corn with delivery during the period 27.11 - 10.12.2017.

- In November, analysts of Conab lowered their forecast for corn crop in Brazil in 2017/18 to 91.6 - 93.1 million tonnes from 92.2 - 93.6 million tonnes in the previous forecast, at average of 92.3 million tonnes, which will be 4.7 - 6.1 million tonnes less than 2016/17.

 

Oil crops and vegetable oils

- In 2017 rapeseed production in Ukraine is 2.214 million tonnes, which is 91.9% more than the previous year, according to ProZerno. Sunflower production will be 12.05 million tonnes (-11%) and soybean 2.884 million tonnes (-9.2%).

- According to Oil World forecast, palm oil stocks in Malaysia will reach 2.3 million tonnes at the end of 2017 given 1.67 million tonnes at the end of 2016 and 2.63 million tonnes at the end of 2015. In 2017 palm oil production in the country will be 19.53 million tonnes at 17.32 million tonnes in 2016 with a peak in October - 2 million tonnes. During the year the export of the product will be 16.73 million tonnes (16.05) and the domestic consumption 2.76 million tonnes (2.66).

- Egypt announced a tender for the purchase of at least 15,000 tonnes of soybean oil and 10,000 tonnes of sunflower oil with delivery from January 1 to January 15, 2018.

- In October 2017/18 340,000 tonnes of rapeseed were exported from Ukraine, which is 2.5 times more than the previous year. During the period July - October 2017/2018. 1.7 million tonnes of rapeseed were exported from the country. The quantity is 85% of the annual forecast for the export of rapeseed from Ukraine - 1.98 million tonnes. In September, rapeseed  export was 700,000 tonnes, 36% more than August and twice more than September 2016.

- In its November report, analysts of Conab raised their forecast for soybean production in Brazil in 2017/18 to 106.4 - 108.6 million tonnes, from 106 to 108.2 million tonnes in the previous forecast and an average of 107.5 million tonnes in the recent years. The figure is 5.4 - 7.6 million tons lower than the previous year. During the season the average soybean yield will be 48.7 bushels / acre.