Chhattisgarh aims over 40% rise in 2018-19 rice crop at 9.5 MMT.
Argentina soybean harvest at record pace, yields decline
Argentina’s soybean harvest accelerated over the past week with harvested areas reaching 54% of the planted acreage, an increase of 14.4 percentage points on the week and up 21.7 percentage points on last year: BAGE. The accumulated harvested volume crossed the 22 million mt mark, with the total expected at 38 million mt, unchanged on the week. Average yields slipped back from 2.56 mt per hectare last week to 2.38 mt per hectare, as the majority of lots in good condition are already harvested and action now moves towards areas that have suffered more severely from the drought.
Delay in paddy planting in Punjab won’t affect acreage.
Delay in paddy planting in Punjab won’t affect acreage.
Ukraine. Crusher soybean stocks in early April down 22% from last year
According to current information of the State Statistics Committee, sunseed stocks in Ukraine totaled 3512.9 KMT as of April 1, 2018 that is 9.5% less than by the same date last year (3881.3 KMT). This included 1714.8 KMT held by growers (down 369.6 KMT or 17.7% from the same date in 2017), while storing and crushing companies accounted for 1798.1 KMT (down 1.2 KMT or 0.07%). As of April 1, 2018, soybean inventories held by crushing companies were down 16% on the year at 367.8 KMT against 438.3 KMT as of April 1, 2017. At the same time, rapeseed stocks were almost 10% lower than a year ago (57.1 KMT and 63.3 KMT, respectively).
Vietnam rice rates up for fifth week; currency moves weigh on India, Thailand.
Vietnam rice rates up for fifth week; currency moves weigh on India, Thailand.
Ukrainian sunflower oil prices strengthened last week
Domestic prices for oilseeds (except for rapeseed) moved up last week. The situation did not change significantly. Agricultural producers restrained sales, provoking buyers to raise prices, which was quite effective amid the growing demand from buyers. Sunseed prices grew on average UAH 100-200/MT.Export prices for sunflower seed and soybeans (FOB with delivery in May) remained unchanged. Sunflower seed prices equaled USD 395/MT (seller), USD 384/MT (buyer). World markets of competing vegetable oils showed price reduction during the second week in a row (palm oil – by 1.2%, soybean oil – by 0.8%), while the prices for Ukrainian sunflower oil (FOB with delivery in May) strengthened by USD 2/MT. Currently, oil stocks in ports are lower than last year, which creates some tension in the market. But these volumes are still enough to provide export shipments, which are almost 14% ahead of last year.In the domestic market of sunflower oil, the prices strengthened on average by UAH 200/MT under the influence of stronger demand and limited supply.
Vietnam rice exports notch volatile in Q1.
Vietnam rice exports notch volatile in Q1.
Russia rapeseed crushing up 23% on the year
Rape oil production gained 23% in MY 2017/18 (July-February), reaching 258.9 KMT versus 210.3 KMT a year ago. 32.4 KMT of rape oil was produced in Russia in February 2018 versus 30 KMT in the previous month and 22 KMT in February 2017. Monthly production volumes of rape oil have steadily been up year-on-year since the beginning of MY 2017/18, expect for a minor downturn in January. The same trends are seen in rapeseed crushing in Ukraine. Rape oil production is high up 25.7% in the first eight months of the 2017/18 season compared to the previous one. In July-February Ukrainian oil and fat industry produces 81.0 KMT of rape oil against 64.5 KMT a year ago due to more active crushing of rapeseed in August-September 2017.
Iran temporally lifts ban on rice imports.
Iran temporally lifts ban on rice imports.
Coriander in Kota dn on low demand; may fall further
Prices of coriander fell in Kota, Rajasthan due to subdued demand from stockists. Prices are seen declining further as arrivals may rise next week onwards. Arrivals of coriander in Rajasthan are lower than normal for the last two weeks as farmers are busy due to the ongoing marriage season.
Pakistan rice export up by 28% from last year.
Pakistan rice export up by 28% from last year.
NCDEX coriander at 6-month low on high carryover stock
Futures contracts of coriander hit a six-month low of 4,768 rupees a 100 kg on NCDEX due to a record-high carryover stocks of 3.5 mln bags (1 bag = 40 kg). There is around 1.5-2.0 mln bags of excess coriander in market from the total stock of 10.5-11.0 mln bags which will keep prices under pressure until August. On NCDEX, the most-active May contract was at 4,785 rupees per 100 kg, down 2% from previous settlement.
Over 9 MMT of wheat procured in Punjab, says official.
Over 9 MMT of wheat procured in Punjab, says official.
Russia’s wheat crop struggles with spring.
Russia’s wheat crop struggles with spring.
Kazakhstan wheat bran exports grew by 16%.
Kazakhstan wheat bran exports grew by 16%.
Africa snaps up Canadian wheat.
Africa snaps up Canadian wheat.
Return to normal as Black Sea new crop corn and wheat prices meet
Return to normal as Black Sea new crop corn and wheat prices meet
India maize futures fall on spot demand on 25 Apr.
India maize futures fall on spot demand on 25 Apr.
Feed demand drives EU corn imports 48% higher YOY.
Feed demand drives EU corn imports 48% higher YOY.
Brazilian soybean exports in April are set to hit 10.99 million mt
Brazilian soybean exports in April are set to hit 10.99 million mt, breaking the previous record reached in May 2017. Brazil exported 7.4 million mt of soybeans during the first three weeks leading up to April 20, at an average of 495,700 mt per working day, customs data shows, faster than the daily average of 419,700 mt during last month, when a total of 8.81 million mt was exported. Daily rate is set to increase to 593,000 mt during April’s final week as an additional 3.56 million mt of Brazilian soybeans is lined up to leave Brazil by April 30. About 734,000 mt of soybeans are scheduled to leave the port of Paranagua between April 23 to April 30, with 978,000 mt to leave Santos and 556,500 mt to depart from Rio Grande over the same week.