IGC lowered estimates on global wheat production in 2017-2018 by 1million tonnes down to 735 million tonnes, given 754 million tonnes in the current season.
According to Statistics Canada, sowing of grain and oil crops in Canada is completed. Areas under canola cultivation amount to 9.23 million hectares, by 12% more than 2016.
In May 2017 palm oil export from Malaysia increases by 17% (0.22 million tonnes) compared to May 2016 up to 1.51 million tonnes, by 0.3 million tonnes mores than in April, according to Oil World.
Strong soybeans demand against the backdrop of rising consumption rates in Pakistan leads to increase in import during the period April - June: 636,000 tonnes given 409,000 tonnes a year earlier..
On Thursday wheat price in Chicago reached the sky!!! Corn and soybeans prices increased a little.In Paris wheat also rose significantly followed by corn and rapeseed.
According to Statistics Canadа, as of June 29th 2017 farmers have sown record areas with canola and rapeseed. For first time the areas under canola cultivation exceed these of wheat.
Sunflower sowing, 2017-2018 crop, is practically over in Russia. 7.5 million hectares were sown. Initial forecasts were for 7.6 – 7.7 million hectares.
The wheat purchasing campaign of the state fund FCI is over. 30.8 million tonnes of wheat were purchased from local farmers, by 34% more that the previous season.
