China imported 8.02 million tons of soybeans last month – a rise of 13.4% year on year, and indeed a record for April, customs data showed.
And buy-ins are seen remaining strong for May and June too, at some 8m-9m tonnes a month, demand that Commerzbank said offered hope for soybean bulls, who have seen Chicago soybean futures recover somewhat after hitting a one-year low last month.
Archer Daniels Midland Co (ADM.N), one of the world’s largest agricultural merchants, said on Monday it agreed to buy a controlling stake in an Israeli grain trader, as it seeks to expand markets to boost profits that have been hampered by a global oversupply.
Industries Centers, founded in 1993, trades corn byproducts and other grain products, according to ADM.
France’s agriculture ministry, in its first forecast for domestic corn seedings this year, pegged them at 1.45m hectares – a drop of 2.4% year on year, and the weakest on data going back to 1993-94.
Celeres consultancy released today (05.08) its projection for soybean production in Brazil and says that the harvest already reached 99 percent of the surface. The estimate for output says that the volume would be 113.8 million metric tons, which is 17 percent higher than last year.
The official crop bureau said that French soft wheat exports in 2016-17 would hit 11.08m tonnes – down 47% year on year, and the lowest in decades, but representing an upgrade of 230,000 tonnes from last month’s estimate.
In its initial wheat supply-and-demand forecasts for 2017-18, the U.S. Department of Agriculture on May 10 projected the carryover of wheat on June 1, 2018, at 914 million bushels, down 245 million bushels, or 21%, from an upwardly revised 1.159 billion bushels as the forecast for the current year.
Russia to restore the previous level of grain supplies to Turkey in 1-1.5 months – Russian Grain Union
Russia will manage to restore grain shipment volumes to Turkey to its previous level in nearly 1-1.5 months, declared the President at the Russian Grain Union (RGU), Arkadiy Zlochevskiy on May 10.
Source: APK Inform
The soybean harvest has approached to nearly 66.5 percent of the total surface in Argentina and the output projection is 57.5 million metric tons, according to the Buenos Aires Cereal Exchange.
First bulk carrier with wheat left Rostov-on-Don, after cancellation of the customs duties by Turkey
According to the announcement, on May 11 the customs station the River port of Rostov-on-Don executed the first destination release for a vessel with wheat cargo, since Turkey canceled the import duties. The volume of wheat totaled 3 thsd tonnes.
Source: APK Inform