News company - Incubator

Agrarians in Kuban have started to harvest soybeans from an area of ​​over 197,000 hectares, growing domestic varieties bred to be resistant to drought and heat.

Last year, soybean exports reached 3,500 tons worth $1.7 million. In 2023, the harvest amounted to 328,000 tons.

In Crimea, 1,528 thousand tons of grain were harvested this year, with record indicators in some regions. The harvest ensures food and feed supply. Agricultural machinery coped with drought thanks to changes in sowing. Authorities emphasize the importance of investments in agriculture.

In Kazakhstan, the prices for flax and rapeseed continue to rise. Red lentils are in demand, while lower-quality beans are available for 150 tenge per kilogram. Prices for oilseeds and legumes vary by region, quality, and delivery conditions.

The company "Tula Plant of Vegetable Oils" has increased its production by opening a new site in Yelets. The project's investments amounted to over 3 billion rubles, and 177 new jobs have been created. A new production facility is planned for further oil processing.

Uzbekistan has increased its import of sunflower oil from Kazakhstan by 70%. The export of crude oil has grown to 92.9 thousand tons, refined oil - to 34.42 thousand tons. The export of seeds has decreased to 4.7 thousand tons due to a duty.

A conference will be held in Tashkent on September 18-19.

In July, India acquired a record 1.92 million tons of vegetable oils, with 1.45 million tons already delivered. The high demand is driven by price increases and expectations of higher import duties. It is expected that imports of palm and soybean oils will increase by 45%, while sunflower oil imports will decrease by 18%.

Analyst from MarketsFarm highlighted the positive outlook for grain crop in Canada after a trip to the prairies. Yield estimates for durum and spring wheat have increased, a new record is expected for Western Canada. Burnett is surprised by the absence of diseases in wheat.

The export duty on sunflower oil from the Russian Federation will remain zero, while on sunflower meal it will increase by 2.1 times. The price for oil will be $798.3 per ton, while for meal - $211.2.

The base price for calculating the duty on meal has been increased to 15,875 rubles, while for oil it remains at 82,500 rubles.

A group of importers from the Philippines has announced a tender for the purchase of up to 240,000 tons of animal feed corn. Applications to participate in the tender are accepted until July 24th.

The delivery will be divided into 4 stages from October to December of the current year.

China is facing an excess of soybeans, which may lead to a reduction in its imports due to low demand for feed. The processing margin is falling due to large inventories. The decrease in soybean consumption in China will lead to a reduction in imports by 2024/25.

Brazil is becoming the leader in soybean supplies, surpassing the USA.

The Egyptian organization GASC has made a deal with a Russian company to purchase 20,000 tons of oil at a price of $1,013.99 per ton with delivery from September 1 to 15. The price is lower than offers from other suppliers. The market is saturated with Russian oil due to a large harvest.

The wheat market continued to decline on Monday. Prices on CBOT decreased, futures for spring wheat in Minneapolis reached lows. Analysts attribute the drop to global events, and also predict improved weather in several producing countries. For example, wheat production in Russia is expected to increase by 1.2 million tons, while in Argentina it is expected to decrease by 3%. The corn market is also under pressure, related to weather conditions in the USA.