Corn stocks ‘to prove even tighter’ than USDA says
The squeeze on US corn supplies may be even stronger than shown by US data, implying a tightening to historic lows, given potential underestimates to demand from ethanol plants and foreign buyers, Standard Chartered said. The bank, saying corn futures may continue rising into 2012, hiked its corn price forecasts by up to $1.25 a…
Ukraine acts to lift exports of growing grain crop
Ukraine has unveiled further moves to boost its grain exports, which are flagging even as harvest hopes have grown, with UkgrAgroConsult upgrading its production estimate, and Astarta unveiling a jump in yields. The country’s trade ministry unveiled preferential credit treatment for grain exporters, in an effort to kick-start shipments which reached only 338,000 tonnes in…
Chicago grain futures climb fourth session in row
CHICAGO, — Chicago corn and soybean futures extended gains on Monday, relying on the lingering support as U.S. government cuts it projection for grain output last week due to the heat and drought in U.S. Midwest this July. Wheat jumped more than one percent, on strong demand from Saudi Arabia and U.S. weather concerns. The…
Ukraine. Grain output 48-50 million tons in 2011/2012 MY
Grain output in Ukraine in 2011/2012 marketing year will be 48-50 million tons, oil-bearing culture – 11-12 million tons, this forecast was made by Kernel agroholding analysts. With such a production level, an export potential this season will be 20 million tons of grain crops, 3 million tons of rape and soya and 3 million…
Grain traders expect USDA to lower its corn yield forecasts after heat wave
Corn traders are focused on the supply and demand report out today from the U.S. Department of Agriculture that also will update yield forecasts. The USDA’s July forecast put the national yield at 158.7 bushels per acre, up from 153 bushels per acre last year but down from 164 bushels per acre two years ago.…
Russia increased the forecast of grain exports to 23 mln tonnes
In the third time during recent weeks, Russia increased the forecast of grain exports – up to 23 mln tonnes. The country plans to export 20-23 mln tonnes of grains, declared Elena Skrynnik, Minister of Agriculture of the Russian Federation, on August 8. According to her, Russia already exported 2.6 mln tonnes of grains in…
Andhra may get additional grain storage capacity of 25 lakh tonnes
HYDERABAD: The state may get an additional grain storage capacity of 25 lakh tonnes this year as in the last procurement season, the state had faced a shortage in grain storage capacity. The Chief Minister of the state, Mr N Kiran Kumar Reddy, has also urged the Centre to grant financial assistance to develop 1,000…
Ukraine: Khlib InvestBud Ltd. intends to increase grain exports to 5 mln tonnes
In 2011/12 MY the company Khlib InvestBud Ltd. plans to increase exports of grains by 300% – up to 5 mln tonnes, due to the increase of grain production volumes in the country and number of customers, and despite competition from Russia after cancellation of the export embargo, said Robert Brovdi, General Director of Khlib…
Grain traders fret about CFTC tape recording rule
U.S. grain traders are alarmed over a new proposal from the Commodity Futures Trading Commission that could require every conversation between a farmer and a country elevator to be tape recorded. The proposal, outlined in a 48-page document in the Federal Register on June 7 but flagged only last week by the industry, makes a…
Support for grain complex on A11 at Snetterton
SNETTERTON: Cereal growers are looking to invest in the future of a new advanced grain processing site on the A11 corridor at Snetterton. There has already been cash backing from farmers willing to pay £5 per tonne towards the initial set-up and planning costs, said Openfield’s Rob Sanderson. SNETTERTON: Cereal growers are looking to invest…