The U.S. private exporters sold 132,000 tonnes of U.S. soybeans to China for delivery in the 2017/18 marketing year that begins Sept. 1, 2017. Private exporters sold 105,500 tonnes of U.S. soymeal to Thailand for delivery in the 2017/18 marketing year that begins Oct. 1, 2017.
Increase in acreage of cotton but lack of rains in the growing period of crop may affect yields.
Increase in acreage of cotton but lack of rains in the growing period of crop may affect yields.
Malaysia, Indonesia Plans to Export Palm Oil to China.
Malaysia and Indonesia discuss plans to export crude palm oil (CPO) for biodiesel to China. The two countries discussing the plan to export CPO to China. The latter is seeking to adopt 5% biodiesel blended with petroleum diesel (B5) program. China is eyeing biodiesel as it increases environmental control. The implementation of the B5 program would create a large CPO market. Therefore, Indonesia and Malaysia ought to cooperate to meet China demand. Malaysia wishes to expand biodiesel market to other countries, such as India and the Philippines.
Ukraine exported 124.3 KMT of rapeseed.
Ukraine exported 124.3 KMT of rapeseed in the first month of the new 2017/18 season, or twice as much as in July 2016 (61.3 KMT). Such an active start of export sales is observed for the first time in the last three seasons. European countries continued to be the key buyers of Ukrainian rapeseed in July 2016/17 (66% of total exports). Among them, the greatest volumes were shipped to Germany and Portugal. This year rapeseed crops up at 2.1-2.2 MMT that enable Ukraine to raise its export potential by almost 60% against last year.
India Pulses end steady in tight movements.
There was not much activity at the wholesale market as prices by and large moved in a narrow range on alternate bouts of trading and pegged at last levels. Adequate stocks position against sporadic demand mainly kept pulses prices steady.
Delhi Gram, masoor move up on scattered demand.
Gram and masoor prices firmed up by Rs 100 per quintal at the wholesale market on mild demand from retailers. However, other pulses moved in a narrow range in limited deals and pegged at last levels. Uptick in demand from retailers mainly led to rise in gram and masoor prices.
Australia to help India become a pulses-processing hub.
Australia is learnt to be exploring ways to help India transform into a pulses-processing hub. Towards this objective, the Australian government and that country agri-business companies hold talks with the Government of India and Indian companies including those into processing, retail and imports of pulses, on the sidelines of the Australia Business Week in India (ABWI). The ABWI is slated to be held from August 28 to September 1 with an aim to promote Australian capability and expand Australia trade, investment and education relationships.
Ukraine early cereals and pulses harvest is over.
In Ukraine, early cereals and pulses were harvested from 9639 Th hectares (100%). Farmers gathered 37224 KMT with an average yield of 3.86 MT/hectares against 37948 KMT with an average yield of 3.94 MT/hectares as of August 22, 2016. Farmers got 1095 KMT of peas from 410 Th hectares with an average yield of 2.67 MT/ha. As of August 22, 2016, these figures equaled 763 KMT, 237 Th hectares and 3.22 MT/ha, respectively.
Coriander rise on fall in supply in Delhi.
Coriander rise on fall in supply in Delhi.
Russia harvested 62.2 MMT wheat vs 58.9 MMT LY as on 24 august.
Russia harvested 62.2 MMT wheat vs 58.9 MMT LY as on 24 august.
Mumbai Sugar steady despite higher arrivals and local dispatches.
Sugar market witnessed higher volume almost double at mill level at steady prices as stockiest gave fresh orders to meet higher physical demand for 11 days long Ganeshotsav starting. At Vashi prices remained unchanged despite higher arrivals and local dispatches.
Punjab cabinet raises paddy procurement.
Punjab cabinet raises paddy procurement.
PHL all set to ship more sugar to US.
Some 55,000 metric tons (MT) of sugar exported to the United States before October 31 to fill the additional sugar quota granted by Washington to the Philippines. Washington granted the Philippines an additional sugar quota of 63,830 MT for fiscal year 2017.
IGC world rice production 2017-18 to 485 MMT vs 484 MMT in LY.
IGC world rice production 2017-18 to 485 MMT vs 484 MMT in LY.
Raw sugar up on Brazil ethanol import tax.
Raw sugar futures on ICE rallied to a 2-1/2-week high after Brazil confirmed it tax ethanol imports, which could possibly encourage mills to produce less sugar. October raw sugar settled up 0.35 cent, or 2.56 percent, at 14.02 cents per lb, after hitting 14.06 cents, its highest since Aug. 8. The tax raise the price of ethanol against sugar, which could encourage Brazilian mills to switch more production toward the biofuel instead of the sweetener.
IGC world corn production 2017-18 to 1.017 BMT vs 1.073 BMT in LY.
IGC world corn production 2017-18 to 1.017 BMT vs 1.073 BMT in LY.
NCDEX refined soya oil October gained 0.49 per cent.
Extending its rising streak for the second day, refined soya oil prices strengthened by another 0.49 per cent in futures trading as speculators engaged in building up positions, driven by rising demand in the spot market. Expanding of positions by traders on the back of rising demand in the spot market against restricted supplies from producing belts mainly kept refined soya oil prices in positive terrain at futures trade.
China corn sold 176,816 MT of 2013 and 2014 corn at 24 aug auction.
China corn sold 176,816 MT of 2013 and 2014 corn at 24 aug auction.
U.S. decides to tax Argentinian biodiesel imports.
U.S. Commerce Department considered that Argentinian and Indonesia exports of biodiesel are subsidized. This would result in tariffs ranging from 50.29 percent to 64.17 percent in the case of Argentina and 41.06 percent and 68.28 percent regarding Indonesia. In 2016, Argentina exported nearly US$ 1.2 billion of biodiesel to the United States.
Malaysia to keep its palm oil export duty rate unchanged in September.
Malaysia, the world’s second palm oil producer after Indonesia (in physical terms), keep the export duty rate unchanged at 5.5% in September. The rate was reduced from 6.5% to 5.5% in August. In September, the calculated benchmark price of Malaysian palm oil will be MYR 2677.91 ($623.57)/MT.