The Philippines rice inventories decline.

Ram Gopal Yadav (6 years ago)

Based on the latest data provided by Philippine Statistics Authority (PSA), the total rice stock inventory of the country was estimated at 2.36 million MT as of 01 June 2018. This was a drop of 8.24 percent from previous year’s level of 2.57 million MT and 18.85 percent below the previous month’s stocks level of 2.9 million MT.

Wheat exports from Russia up 41%.

Ram Gopal Yadav (6 years ago)

In July-May 2017/18, wheat exports from Russia totaled roughly 38 MMT. This is already 41% more than in the whole of MY 2016/17, when some 27 MMT was shipped abroad. Russia exported 3.9 MMT of wheat in May 2018 that is 19.3% more than in the previous month and up 103% from May 2017. Vietnam imported 1.96 MMT of wheat in July-May 2017/18.

India govt Jul 1 wheat stocks at 5-year high of 41.8 mln tn.

Ram Gopal Yadav (6 years ago)

Wheat inventory in the government’s central pool has touched a five-year high of 41.8 mln tn as of Jul 1. Higher inventories this year are mainly because of increased procurement in the country. Government’s wheat procurement for the current year started April was 35.5 mln tn, 15.8% higher on year till Jun 25.

Rapeseed yield in Ukraine grew to 2.4 MT/ha.

Ram Gopal Yadav (6 years ago)

Winter rapeseed had been harvested from 571.2 Th ha by July 10 (58% of its forecast harvest area of 983 Th ha). The crop amounted to 1370.2 KMT with an average yield of 2.4 MT/ha. As harvest advanced, the yield value went up. So, rapeseed yield as of July 10 was almost 16% higher than a year ago (2.07 MT/ha).

European rapeseed mixed worries over yields.

Ram Gopal Yadav (6 years ago)

EU rapeseed was quoted between unchanged and one euro per tonne up, supported by a firmer dollar, which underpins products quoted in euros, and worries over rapeseed yields due to a recent dry spell. Technical weakness in rapeseed futures limited gains.

India mustard crushing down 28% on month at 650,000 tn in June.

Ram Gopal Yadav (6 years ago)

Mustard oil mills across the country crushed 650,000 tn of the oilseed in June, down 28% from the previous month. The on-month decline in crushing was because arrivals at key wholesale markets started shrinking as the lean season set in. During Mar 1-Jun 30, overall supply of the oilseed was at 4.8 mln tn. Arrivals in Rajasthan, the top producer, were at 1.6 mln tn, in Uttar Pradesh at 655,000 tn, ans Madhya Pradesh and Chhattisgarh at a combined 280,000 tn. Stocks with farmers, processors, and stockists were at 3.8 mln tn, he said. As on Feb 28, mustard carryover stock were estimated at 400,000 tn. Crushing of mustard may fall further in July, as arrivals have started declining.

Mustard seed at 18-month high on robust demand for oil.

Ram Gopal Yadav (6 years ago)

Prices of mustard seed hit an 18-month high in Jaipur owing to robust demand for mustard oil in the ongoing monsoon season. The seasonal demand for mustard oil rises by 20-25% during the monsoon season, which supports seed prices. In Jaipur, the benchmark market, the oilseed was sold at 4,250-4,270 rupees per 100 kg, up 10-20 rupees. Demand from stockists and crushers and a fall in arrivals also supported prices. Arrivals in Rajasthan were estimated at 55,000 bags (1 bag = 85 kg), down 5,000 bags. On NCDEX, the most-active July contract was at 4,105 rupees per 100 kg, up 13 rupees.

CBOT Soybean prices rebound after losses.

Ram Gopal Yadav (6 years ago)

Chicago soybean futures edged up, recouping some of the last session’s deep losses which dragged the market to its weakest in almost 10 years on concerns over demand amid a U.S.-China trade dispute. The most-active soybean contract on the CBOT had risen 0.6 percent to $8.53-1/2 a bushel.

European feeds-Soymeal mixed ahead of fresh USDA data.

Ram Gopal Yadav (6 years ago)

Soymeal on the European meals and feeds market was offered mixed in thin trade on positioning ahead of Thursday’s USDA crop and supply/demand reports. South American soymeal was offered between $3 a tonne higher and $3 lower. Pressure came from ongoing concerns about the trade dispute between the United States and the world’s largest soy buyer China, which also weighs on CBOT soymeal futures.

China cuts soybean import forecast for next crop year as trade war to curb demand

Ram Gopal Yadav (6 years ago)

Imports of soybeans in the crop year that starts on Oct. 1 will be 93.85 million tonnes, down 1.8 million tonnes, or 2 percent, from last month’s estimate. Compares with its estimate of 95.97 million for the 2017/18 crop year and would be the lowest import level since the 2016/17 year. Meanwhile, crushers that make meal and oil from the beans will process fewer beans in favour of other protein substitutes. Meal made from rapeseed, peanuts and sunflower seeds are expected to be popular alternatives. The government also cut its soybean consumption forecast by 2 percent from the previous month’s outlook to 109.23 million tonnes. That would still be 1 percent higher than consumption in the 2017/18 crop year.