ADM, Cargill complete agreement for soybean joint venture in Egypt.
Ram Gopal Yadav (7 years ago)

ADM and Cargill have successfully completed their transaction and formally launched SoyVenTM their new joint venture to provide soybean meal and oil for customers in Egypt. SoyVen owns and operates the National Vegetable Oil Company soy crush facility in Borg Al-Arab, along with related commercial and functional activities, including a separate Switzerland-based entity supplying soybeans to the Egypt crush plant. The plant’s daily crush capacity has been doubled to 6,000 metric tons in order to meet increasing Egyptian demand for higher-protein soybean meal and for oil, reducing the need for imports. The demand for high-quality soybean meal and for oil from both the food manufacturing and animal feed sectors continues to rise.

Modi’s bonanza to Indian farmers hampered by funds, storage.
Ram Gopal Yadav (7 years ago)

Indian Prime Minister Narendra Modi’s pre-election gambit to sharply hike state-mandated prices for summer crops, including soybean, may mean little to millions of farmers, as the government lacks the storage and funds needed to buy most of the produce. The government announces MSPs for most crops to set a benchmark, but state agencies mainly buy limited quantities of staples such as rice and wheat at those prices, restricting benefits of higher prices to only around 7 percent of the country’s 263 million farmers. Implementing the scheme in full would be expensive, economists say. The government’s fiscal deficit target for the current financial year, at 3.3 percent of GDP, is already under pressure due to high oil prices.

Bangladesh wheat import tender lowest offer $256.38/T.
Ram Gopal Yadav (7 years ago)

Bangladesh to import 50,000 tonnes of wheat drew its lowest offer from Singapore-based Agrocorp at $256.38 a tonne. Two other trading houses competed for the tender from Bangladesh’s Directorate General of Food, quoting deliveries at $258.95 a tonne and $262.89 a tonne. The price includes shipping, insurance and discharge costs. Bangladesh emerged as a major buyer of rice and wheat in 2017 after floods destroyed its crops, sending rice prices to record highs and prompted many people to switch to flour. Bangladesh has turned to the Black Sea region for wheat as supply from India dwindled to meet growing demand while the country’s output has stagnated at around 1 million tonnes.

Kansas winter wheat harvest was 71% completed.
Ram Gopal Yadav (7 years ago)

Kansas winter wheat harvest was 71% completed by July 1 compared with 52% a week earlier and 63% as the 2013-17 average for the date. Harvest in adjacent states was 98% completed in Oklahoma (90% as the average for the date), 80% in Texas (83%), 7% in Nebraska (9%) and 21% in Colorado (9%).

Japan offers to buy 79,770 tonnes of food wheat via tender.
Ram Gopal Yadav (7 years ago)

Japan’s Ministry of Agriculture is seeking to buy 79,770 tonnes of food-quality wheat from the United States and Australia in a regular tender. it has suspended its tender and sale of wheat from Canada after grain containing a genetically modified trait was discovered last summer in Canada’s Alberta province.

Japan to import 65,390 tonnes feed wheat and barley via tender.
Ram Gopal Yadav (7 years ago)

Japan will import 27,210 tonnes of feed-quality wheat and 38,180 tonnes of barley for livestock use, via a simultaneous buy and sell (SBS) auction. The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Oct. 31 and arrive in Japan by Dec. 28 in the tender that is usually conducted weekly. It is seeking the same amount for each grain to be loaded and shipped during the same period in a similar tender that will be held on July 11.

India Govt hiked 200 rs/Qtl the paddy MSP.
Ram Gopal Yadav (7 years ago)

The government hiked the minimum support price (MSP) or purchase price for paddy crops up to Rs. 200 per quintal as it looked to fulfill its poll promise to give farmers 50 per cent more rate than their cost of production. The announcement of higher MSP coupled with the forecast of normal monsoon this year, could further boost foodgrains output. The MSP of paddy (common grade) has been increased by Rs. 200 to Rs. 1,750 per quintal, while that of Grade A variety by Rs. 180 per quintal to Rs. 1,770.

US Cash Soymeal-Basis mostly unchanged on robust demand.
Ram Gopal Yadav (7 years ago)

Soymeal spot basis offers were largely unchanged at US domestic and export markets as demand remained robust and soy crush margins hovered near the highest levels ever. The recent decline in Chicago Board of Trade soymeal futures enticed domestic livestock and poultry producers to buy train and truckloads of the animal feed. CBOT August soymeal touched a low of $328.20 per ton, the lowest since the roughly five-month low on June 19. Comparatively larger declines in prices for soybeans boosted profit margins for soybean processors. Crush margins on the CBOT of nearly $1.93 per bushel per bushel of soybeans. That is the highest nice record-large crush margins in 2014, suggesting processors could turn big profits. One cash dealer pegged profit margins on each ton of soymeal at about $50.

China expected to cancel 1.1 million tonnes of soybeans from the US as new tariff bites.
Ram Gopal Yadav (7 years ago)

Chinese companies are expected to cancel most of the remaining soybeans they have committed to buy from the United States in the year ending August 31 once the extra tariff on US imports takes effect. China has yet to take delivery of more than 1.1 million tonnes booked for the current marketing year, last week that China had resold about 123,000 tonnes of committed deliveries to Bangladesh and Iran.

India Govt hiked the soybean MSP.
Ram Gopal Yadav (7 years ago)

The government hiked the minimum support price (MSP) or purchase price for soybean crops up to Rs. 349 per quintal as it looked to fulfill its poll promise to give farmers 50 per cent more rate than their cost of production. The announcement of higher MSP coupled with the forecast of normal monsoon this year, could further boost foodgrains output. The MSP of soybean has been increased by Rs. 349 to Rs. 3,399 per quintal.