The Russian Ag Ministry reports 17.4 Ml ha of winter cereals have been planted for the 2017 harvest, or 0.3 Ml ha more than in2016 (17.1 Ml ha).
Spring planting had been completed on an area of 55.2 Th ha (0.1% of the forecast).
Black Sea prices for Russian wheat with 12.5 percent protein content for March delivery were $193 a tonne on a free on board (FOB) basis at the end of last week, up $1 from the previous week, Russian agricultural consultancy IKAR said.
Source: Ikar on Reuters
Between last August and February, the country has imported a total of 4.75 million metric tons, which is 59.42 percent more than the same months of the previous season.
Argentina’s wheat has been the most competitive in the biggest consumption center of Brazil, Sao Paulo. The price paid in the state is nearly US$ 23.50 / ton cheaper than Brazilian wheat.
Source: AgroSouth News
Saudi Arabia has arranged for the importing of 735,000 tonnes of durum wheat from European, North and South American and Australian sources.
Eight ships holding 480,000 tonnes will arrive in Jeddah with the remaining four and 255,000 tonnes to arrive via Damman.
In particular, in March 2017 Russia will export 3.-3.1 mln tonnes of wheat, 650-700 thsd tonnes of corn, and 150 thsd tonnes of barley.
Source: APK Inform
Consultancy Scot from the state of São Paulo stated: “A greater availability of corn is a key factor for the fall of domestic prices. We forecast a downward pressure beginning in May or June with the summer crop harvested and consolidated data on the second corn ».
Japanese feedmakers, hit by a severe shortage of corn due to delays in shipments from the United States, say the crisis has eased and small cargoes of corn brought from China this month are likely to be the last for a while.
The bank hiked by $0.85 a bushel to $10.50 a bushel its forecast for Chicago soybean futures as of the October-to-December period.
The forecast reflected expectations of further growth in Chinese imports of the oilseed in 2017-18, of 3m tonnes to a record 90m tonnes, fuelled by demand from hog producers enjoying « higher profit margins ».
Rosselkhoznadzor pointed out that Russia exported 860 thsd tonnes of wheat to Sudan in 2016, however, the volume could be much higher taking to account export potential of Russia.
Source: APK Inform
An estimate presented by Sumit Gupta, India business manager for U.S. brokerage McDonald Pelz.
He estimated Indian wheat output at around 92-93 mln tonnes for the crop that will be harvested next month. Bangladesh is likely to import around 4.2 mln tonnes in 2017/18, up from an estimated 3.8 mln-4.0 mln tonnes this year.
Source: Ukr AgroConsult
Turkey has deprived Russia of the right to free supplies of wheat, corn and sunflower meal. Shipment of these products almost stopped.
Experts believe that Turkey’s decision might be related to the fact that Russia retains a ban on the import of Turkish tomatoes and other vegetables.
President of the Istanbul Association of Exporters Zekeriya Mete has confirmed that Russian grain imports have been restricted, adding that all supplies that have already arrived in Turkey will be accepted.
Earlier on Friday President of Russia’s Grain Union Arkady Zlochevsky told TASS that Turkey has suspended issuance of licenses for duty-free import of sunflower oil, wheat and corn from Russia. According to Zlochevsky, Turkish contractors of Russian exporters have informed about it. Russian exporters are now obliged to pay a duty amounting to 130%.