Egypt’s local wheat buying surges in first two weeks of harvest
Ram Gopal Yadav (8 years ago)

Egypt, the world’s largest wheat importer, has so far bought 1.4 million tonnes of the grain from farmers in its harvest, procuring more than a third of its target in the first two weeks. The government is looking to buy about 4 million tonnes of wheat from farmers this harvest, which ends in July. Egypt expects to buy an additional 7 million tonnes of the grain from abroad during the 2018-19 financial year that begins in July. It uses the wheat to supply a sprawling bread subsidy system relied on by tens of millions of people.

Dairy body to buy 3,000 tn de-oiled rice bran.
Ram Gopal Yadav (8 years ago)

The National Cooperative Dairy Federation of India will buy 3,000 tn of de-oiled rice bran and 1,000 tn of maize through an e-auction on May 9. The commodities will be bought on behalf of The Erode District Cooperative Milk Producers’ Union Ltd. The National Cooperative Dairy Federation, which has about 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

Mustard seed at 2-wk low in Jaipur on high arrivals
Ram Gopal Yadav (8 years ago)

Prices of mustard seed hit a two-week low in Jaipur, Rajasthan, due to a rise in arrivals amid lacklustre demand from domestic oil millers and stockists. Prices of mustard seed hit a two-week low in Jaipur, Rajasthan, due to a rise in arrivals amid lacklustre demand from domestic oil millers and stockists.

Russia sunseed inventories in Russia fell to 0.9 MMT
Ram Gopal Yadav (8 years ago)

Russian growers held 1629.1 KMT of oilseeds as of April 1, 2018 that is 64 KMT (3.8%) less than at the same time last year (1693.1 KMT). Oilseed inventories reduced by 491.3 KMT in March. Farmer sunseed stocks totaled 871 KMT – down 186.7 KMT (17.6%) from the same time last year (1057.7 KMT). Sunseed inventories reduced by 344 KMT in March.

Drought reducing soybean output in Uruguay
Ram Gopal Yadav (8 years ago)

Due to the recent devastating drought, soybean production in Uruguay is forecast to drop to 1.7 million tonnes in 2017-18. This is a drop of 43% compared to the USDA’s original estimate of 3 million tonnes. Soybean crush for 2017-18 is revised down to 60,000 tonnes — a 20% decline from the previous crop year due to lower soybean supplies. The USDA forecasts a recovery for both soybean production and crush in 2018-19. It predicts output of 3 million tonnes and crush at 80,000 tonnes, which is a return to pre-drought historical levels.

Soybean futures saw weakness into the close, with the nearby contracts 7 to 7 3/4 cents lower.
Ram Gopal Yadav (8 years ago)

Soybean futures saw weakness into the close, with the nearby contracts 7 to 7 3/4 cents lower. Soy meal was down $1.10/ton, with front month soy oil 8 points in the red. The USDA reported a private export sale of 120,000 MT of soybeans for 18/19 to Argentina. Soybean export inspections during the week of 4/26 totaled 679,379 MT. That was 43.83% larger than the week prior and 22.53% above the same week last year. This afternoon’s Crop Progress report indicated that the US soybean crop was 5% planted on Sunday. That is even with the average but 4% lower than this time last year.

Mustard oil softens on subdued local demand
Ram Gopal Yadav (8 years ago)

In restricted activities, mustard oil prices drifted lower by Rs 50 per quintal owing to sluggish local demand. However, other edible and non-edible oils moved in a narrow range in scattered deals and settled around overnight levels. Sluggish local demand against ample stocks position, mainly weighed on mustard oil prices.