News Snippets

Posted by Nogger - a legend in his own mind at 12:20 | Categorized as

04/09/13 -- Egypt's GASC are back again, issuing their third wheat tender in a week. This one being for Oct 21-30 shipment, with the results expected later this afternoon.

Bangladesh are also tendering for 50 TMT of wheat, their third tender since the beginning of July.

Ukraine farmers have planted 394,000 ha of winter OSR, or 43% of the intended area, according to the Ag Ministry.

The Russian grain harvest now stands at 62.5 MMT off 56.9% of the combinable crop area. Yields are averaging 2.38 MT/ha, up 25.9% vs. last year, say the Ag Ministry.

Russia has harvested "about 40 MMT" of wheat of 57.8% of the planned area. Yields are up 41% at 2.75 MT/ha, say the Ag Ministry.

They've also harvested 409 TMT of corn off 3.4% of plan, along with 826 TMT of sunseed off 4.8% of plan.

APK-Inform say that Ukraine has the potential to export 30.4 MMT of grains and pulses in 2013/14, including 18 MMT of corn, 9.5 MMT of wheat and 2.5 MMT of barley.

Heavy rain has fallen in parts of Mato Grosso. Rains usually begin about this time in central Brazil. Early soybeans and full-season corn planting in MG will begin in the middle of this month.

"South American farmers will probably plant more soybeans than expected hitherto, weather permitting," say Oil World.

Chartists say that the failure of Nov 13 soybeans to breach the USD14.09 1/2 level last night indicates an approach to retest the USD13.51 level. Nov 13 currently trades at USD13.71 1/4, down 15 1/2 cents on the Globex market.