International Grain Commodity News
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International Grain Commodity News
This topic puts together international grain commodity news: production, trade and export news especially for maize and wheat.
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2013 corn crop adjusted down slightly, global p...

2013 corn crop adjusted down slightly, global p... | International Grain Commodity News | Scoop.it
With the harvest complete and actual numbers replacing estimates, the USDA increased the harvested acres for corn by 436,000 acres and lowered the yield to 158.8 bushels per acre, reducing the figure for total production to 13.9 billion bushels.
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SA maize rallies to record high

SA maize rallies to record high | International Grain Commodity News | Scoop.it

SA maize rallies to record high

Prices of the grain dropped 40 percent on the Chicago Board of Trade in 2013, the most among 24 commodities in the Standard & Poor's GSCI Spot Index.

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Wheat Advances as Egypt Seeks Supplies, U.S. Crop Deteriorates - AgWeb

Wheat Advances as Egypt Seeks Supplies, U.S. Crop Deteriorates - AgWeb | International Grain Commodity News | Scoop.it
Wheat Advances as Egypt Seeks Supplies, U.S. Crop Deteriorates
AgWeb
The country's General Authority for Supply Commodities bought 240,000 tons of wheat from France and Romania last week.
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China to increase grain imports this year

China to increase grain imports this year
Grainews
Strong domestic prices compared to the rest of the world and good state support will help China eventually reach that stated goal, he added.
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The Grain Market Looks Weak - Inside Futures

The Grain Market Looks Weak - Inside Futures | International Grain Commodity News | Scoop.it
Business Recorder The Grain Market Looks Weak Inside Futures Grain Futures---The grain market opened slightly lower on the night session as the bearish trend in corn and soybeans could continue throughout harvest season as crop yields look to be...
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During shutdown, China and others quietly binged on U.S. grain

China and other big grain importers embarked on a corn and soybean buying spree during the U.S. government's 16-day shutdown this month, taking advantage of a lapse in mandatory reporting of their deals, data showed on Thursday.

Figures from the U.S. Department of Agriculture, which had halted collection of required weekly grain export sales information during the shutdown, showed purchases in the three weeks to Oct. 24 had far outstripped analysts' expectations, despite weeks of market chatter about unusually large purchases.

"It does play out the notion that when nobody is watching, the Chinese will be in to buy," said Citigroup futures specialist Sterling Smith.

Sales of corn and soybeans for the three-week period both topped 4.5 million tonnes, exceptionally high even on a pro rata weekly basis. A slump in prices that took benchmark U.S. corn prices to their lowest in three years probably also spurred buying.

At 9:13 a.m. CDT (1413 GMT), CBOT December corn was up 2 cents per bushel at $4.32-1/4, and November soybeans were up 1-1/4 at $12.88-3/4.

All sales to export U.S. grain must be reported to the USDA on a weekly basis, and larger one-off deals must be reported daily. This system was instituted following the 1972 "great grain robbery" in which the Soviet Union quietly arranged a series of big export deals that drove up U.S. prices.

But that system went on hold during the shutdown. Only on Thursday was the USDA able to release tabulated sales made during the three weeks up to Oct. 24, publishing the data in a single batch rather than as three separate weeks.

TOPPING 4.5 MILLION

Net export sales of soybeans for the current marketing year (2013/14) totaled 4,742,000 tonnes, well above the high end of a range of estimates at 3,000,000 tonnes.

China, the world's largest buyer of soybeans, bought nearly half of the soy (2,112,300 tonnes), and there was a large sale of 550,800 tonnes to an unknown destination. Mexico, Russia, Indonesia, Taiwan and Japan also bought large volumes.

Corn sales likewise were huge at 4,555,500 tonnes for the current marketing year, nearly twice as large as the high end of 2.5 million in the range of trade estimates.

Mexico accounted for a large purchase of 1,689,400 tonnes and also bought 734,400 tonnes for delivery during the next marketing year (2014/15).

"A big surprise were the very big sales to Mexico," Smith said. "All in all, these export numbers should provide at least some support to the market."

Japan also was a big buyer, and China purchased 777,600 tonnes of corn during the three-week period.

"Those are big export numbers, but the market reaction is muted," a Chicago trader said. "I'm also hearing there was more U.S. corn export business done overnight, and that shouldn't be too surprising at these low values (U.S. corn prices)."

Chicago Board of Trade corn futures have fallen to the lowest level in three years as U.S. farmers continue harvesting what is likely a record large crop approaching 14.0 billion bushels.

The three-week total for wheat exports stood at 1,308,800 tonnes, below the low end of estimates at 1,500,000 tonnes.

"Wheat sales were about as expected - market neutral," Smith said.Click here to edit the title


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Wheat gains to eight-month high - Independent Online

Wheat gains to eight-month high - Independent Online | International Grain Commodity News | Scoop.it
Independent Online
Wheat gains to eight-month high
Independent Online
Johannesburg - South African wheat futures rose to the highest level in more than eight months by the noon close on the South African Futures Exchange.
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Trick or Treat? Grain hedgers haunted by the ghost of MF Global

Trick or Treat? Grain hedgers haunted by the ghost of MF Global | International Grain Commodity News | Scoop.it
Trick or Treat? Grain hedgers haunted by the ghost of MF Global
Reuters UK
But despite all the improvements, grain hedgers are still haunted by the ghost of MF Global.
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CBA lowers Australian wheat production forecast

CBA lowers Australian wheat production forecast | International Grain Commodity News | Scoop.it
CBA lowers Australian wheat production forecast
ABC Online
Despite good spring rain in Western Australia, one of the nation's largest banks has still revised down Australia's expected wheat production.
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Kazakhstan may export 10 million tons of grain this year

Kazakhstan may export 10 million tons of grain this year | International Grain Commodity News | Scoop.it
DTN Kazakhstan: Kazakhstan may export 10 million tons of grain this year: ASTANA. October 31. KAZINFORM - This... http://t.co/ip7oXNlFSM
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Commodity Market Increased in December Due to Positive Fundamentals - Wall Street Journal

Commodity Market Increased in December Due to Positive Fundamentals - Wall Street Journal | International Grain Commodity News | Scoop.it
Commodity Market Increased in December Due to Positive Fundamentals Wall Street Journal China reportedly turned away a large shipment of US dried distillers grains (DDGs), a corn by-product, and more rejections are expected in coming weeks as...
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EU wheat prices higher, awaits Egypt tender results - Business Recorder

EU wheat prices higher, awaits Egypt tender results Business Recorder European Union wheat prices were flat to slightly higher on Friday with market participants awaiting results from Egypt's tender expected later in the day as the euro became more...
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FAO Expects More Balanced Food Markets, Less Price Volatility

FAO Expects More Balanced Food Markets, Less Price Volatility | International Grain Commodity News | Scoop.it

GLOBAL - Food commodity markets are becoming more balanced and less price volatile than in recent years thanks to improved supplies and a recovery in global inventories of cereals, according to FAO's Food Outlook report.

"The prices for most basic food commodities have declined over the past few months. This relates to production increases and the expectation that in the current season, we will have more abundant supplies, more export availabilities and higher stocks," said David Hallam, Director of FAO's Trade and Markets Division.

The sharp increase in 2013 cereal production mostly stems from a recovery of maize crops in the United States and record wheat harvests in CIS countries. World rice production in 2013 is expected to grow only modestly.

Cereal stocks

Global stocks, ending in 2014, are also anticipated to increase, by 13 per cent, to 564 million tonnes, with coarse grains alone up by 30 per cent, mostly in the United States. Wheat and rice stocks are also projected to rise, by 7 per cent and 3 per cent respectively.

The expansion in world cereal stocks would result in the global cereal stocks-to-use ratio reaching 23 per cent, well above the historical low of 18.4 per cent in 2007/08.

In 2013, the world food import bill is set to decline by 3 per cent to $1.15 trillion, with import costs of cereals, sugar, vegetable oils and tropical beverages falling, but dairy, meat and fish remaining firm, according to FAO's latest Food Outlook.

Food prices rise slightly

The FAO Food Price Index, also published in this report, rose slightly in October, averaging 205.8 points. This was 2.7 points, or 1.3 per cent above September, but still 11 points, or 5.3 per cent below its October 2012 value. The slight increase was largely driven by a surge in sugar prices, although prices of the other commodity groups were also up.

The Index, which is a measure of the monthly change in international prices of five major food commodity groups (including 73 price quotations), has undergone some changes in the way it is calculated, although the new approach did not significantly alter the values in the series. The revised Index has also been extended back to 1961. The revisions are discussed in the Special Feature section of Food Outlook.

Forecasts for other commodities include:

Cassava - World cassava output is expected to increase for the fifth consecutive year and to reach 256 million tonnes in 2013. The expansion is being fueled by rising demand for food in the African continent and increasing industrial applications of cassava in East and Southeast Asia, especially for ethanol and starch.

Sugar - World sugar production is forecast to increase only slightly in 2013/14. The rise is likely to be limited in Brazil, the world's largest sugar producer and exporter, where unfavourable weather conditions have hampered harvesting operations. World sugar consumption is set to grow by about 2 per cent in 2013/14.

Oilseeds - World oilcrop production could climb to an all-time high in 2013/14, supported by record soybean crops in South America. Global output of oilseed products should match world utilization for the second consecutive year, although a sizeable surplus is possible in the case of meals/cakes.

Meat - World meat production is anticipated to grow by 1.4 per cent in 2013. Prices have remained at historically high levels since the beginning of 2011. There is no sign of overall price decreases, despite reduced feed costs.

Dairy - World milk production in 2013 is forecast to grow by 1.9 per cent. Asia and Latin America and the Caribbean are expected to account for most of the increase, with only limited growth elsewhere. International dairy products prices have declined from their April peak, but still remain at historically high levels.

Fisheries - Aquaculture continues to boost overall fish supply, pushing quotations down from earlier levels. Fish consumption per capita keeps growing, with aquaculture in the process of overtaking capture fisheries as the main source of supply for direct human consumption.

- See more at: http://www.thecattlesite.com/news/44350/fao-expects-more-balanced-food-markets-less-price-volatility#sthash.d1MjTxJ0.dpuf


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Deputy minister: Azerbaijan eliminates dependence on imports of grain seeds

Deputy minister: Azerbaijan eliminates dependence on imports of grain seeds | International Grain Commodity News | Scoop.it
Trend.az Deputy minister: Azerbaijan eliminates dependence on imports of grain seeds Trend.az Azerbaijan produced 2 million tons of grain in 2003, while this figure reached 2.8 million tons in 2012 as a result of eliminating the dependency on...
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India cuts floor price for wheat exports to boost shipments

 India has finally cut the floor price for exports of wheat from government warehouses by 13 percent, a government source said on Wednesday, to help boost stalled shipments from the world's second-biggest producer of the grain.

Higher supplies from India, struggling with massive stocks of the staple, could dampen benchmark prices in Chicago which have just bounced back from a near one-month low hit in the previous session.

With the minimum price the government will sell at cut to $260 a tonne plus taxes, traders and analysts now believe Indian wheat will be competitive with rival supplies from the Black Sea region that had elbowed out New Delhi.

"It has been decided to reduce the floor export price for wheat to $260 per tonne," a government source told reporters after a cabinet meeting.

The government managed to sell nearly 4.5 million tonnes of wheat — about 5 percent of annual output — earlier this year but since then all bids in state tenders have been below a $300 per tonne minimum price.


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SA maize declines for first time in 12 days

SA maize declines for first time in 12 days | International Grain Commodity News | Scoop.it
Independent Online SA maize declines for first time in 12 days Independent Online Yellow corn for delivery in December, the most active contract, declined 1 percent to 2,253 rand ($228) a metric ton, the first drop since October 11 on the South...
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GRAINS-CBOT corn falls on big US harvest, pressures wheat - Reuters

Futures Magazine
GRAINS-CBOT corn falls on big US harvest, pressures wheat
Reuters
The weakness in corn, which was hovering near a three-year low, weighed on the wheat market.
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CFTC Approves New Rules to Improve Futures Industry - ValueWalk

CFTC Approves New Rules to Improve Futures Industry - ValueWalk | International Grain Commodity News | Scoop.it
ValueWalk
CFTC Approves New Rules to Improve Futures Industry
ValueWalk
The United States Commodity Futures Trading Industry (CFTC) approved the finalization of new rules proposed a year earlier to improve the futures industry.
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Ukraine set to export 4m tons of grain to China in 2013

Ukraine set to export 4m tons of grain to China in 2013 | International Grain Commodity News | Scoop.it

Having received $1.5 billion credit from China, Ukraine plans to export back about 4 million tons of grain in 2013 calendar year. Such are the terms of $3 billion loan agreement between the Export-Import Bank of China and the State Food and Grain Corporation of Ukraine (SFGCU), reports korrespondent.net.


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Frontier Markets's curator insight, March 24, 2013 9:25 PM

Grain exports highlight extent of China's ties to Ukraine's agriculture sector - at a time when Ukraine's relationship with its traditional markets in Western Europe is under strain. 

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Grain futures mixed; Wheat trades near 4-1/2-month high - NASDAQ

Grain futures mixed; Wheat trades near 4-1/2-month high - NASDAQ | International Grain Commodity News | Scoop.it
Live Trading News
Grain futures mixed; Wheat trades near 4-1/2-month high
NASDAQ
Investing.com - " U.S.
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