Egypt's Gasc began 2017 where it ended off last year - buying 235,000 tonnes of Black Sea wheat at tender, and continuing to accelerate purchases ahead of the year-ago rate. The state grain authority for the world's top wheat-importing country purchased 235,000 tonnes of the crop on Saturday, mainly from Russia, but with one Romanian cargo ordered too
Wheat futures touched multi-months highs after the US revealed that its winter sowings of the grain had slumped to the lowest in 108 years, while soybean prices gained on a lower-than-expected stocks estimate.
Wheat futures suffered, further, losses in 2016, in the benchmark Chicago market, falling for a fourth successive year, this time by 13.2%.
That landed the contract with its lowest finish to a calendar year since 2005, with prices depressed by a fourth successive season of record world production
Hard red winter wheat futures in Kansas surged, after a sharp cut to winter wheat condition in the US Plains.
US Department of Agriculture crop unveiled a hefty trim to winter wheat condition, particularly in the key hard red winter wheat growing states of Oklahoma and Kansas, after a cold dry December.
Soybean futures outperformed in 2016, rising for the first time in four years, by 14.4%, compared with a 1.9% decline in Chicago corn futures, and a 13.2% drop in wheat. While the US harvested a record crop, demand has been strong too - supported by Chinese imports which also set a record high, with demand supported by a recovery in the fortunes of the country's important hog producers.
Hedge funds approached the end of 2016 on a bearish note in agricultural commodities, cutting bets on price rises for a fourth successive week, as they stretched to a record a selling spree in softs such as cocoa and coffee.
29 November 2016
A fleet of seven new BlazeAid trailers are ready to help South Australians recover from natural disasters following donations from local grain growers, Glencore Grain and Viterra.
The seven fencing trailers...
The information in the news feed from external sources was not prepared by or on behalf of Glencore Grain and is provided as an information service only. It should not be construed as an endorsement of any associated organisation, product or service nor construed as the opinion of Glencore Grain. Although care has been taken to provide suitable material from the source of the material, no guarantee can be given about the suitability, completeness or accuracy of any of the material. Glencore Grain does not accept any responsibility for the content of the material.
About Glencore Grain
Glencore Grain, a subsidiary of Glencore, has been operating in Australia for more than 10 years.
Glencore Grain is one of the largest buyers of wheat, barley, oilseeds, pulses, sorghum and cotton direct from Australian growers, with accumulation offices located across five key growing states; Western Australia, South Australia, Victoria, New South Wales and Queensland. Read More