Sunflower harvest over 11 million tons

In Ukraine in 2015/16 MG is expected to increase sunflower harvesting areas by 6.8% to 5.5 million hectares. Among the key reasons for such dynamics - high profitability of sunflower seeds - 80,3%.

Brazil Corn-Crop Estimate Cut by Analyst Cordonnier on Dryness

Forecast cut 1.2% to 82m mt from week earlier because of dry, hot weather in past several weeks and little rain expected, Michael Cordonnier, president of Soybean & Corn Advisor Inc. in Hinsdale, Ill., says in report to clients.

Hottest Agriculture Trade Brings Record Volume

Soybeans are quickly becoming the hottest trade in the agriculture world. Trading volume and open interest, or the number of outstanding contracts held, reached all-time highs for futures last week on the Chicago Board of Trade.

Demand from the EU revived world sunflower oil market

According to analysts Oil World, in October and February 2015/16 MY sunflower oil shipment from three key countries increased by 17% - to 2.95 mln. tons vs. 2.52 mln. tons in the same period a year earlier.

Wheat export from Ukraine

Ukraine in March quarter increased the export of wheat.

Outlook of futures agricultural market

This week marked the most active funds and speculators in agricultural futures market since the summer of 2015, which contributed to the active growth of prices.

USDA April report outlook

Yesterday was the last report USDA, which has not made significant changes in the global balance of supply and demand, but still every time the market reacts to increased volatility.

Technical analysis of agricultural futures

Over the last week, corn futures, old and new crop, increased by only a couple of cents and figure "double bottom" remained practiced. Weekly stochastic further supports the upward movement, the nearest resistance level - 371.25 cents per bushel. The level of support - 350 cents per bushel.

Contracts for soybeans continued active upward movement reaching resistance level possible 915 cents per bushel, which is a large number of offers (sell orders) and from which a likely downward correction. Relative Strength Index reached a level of 68%, which also indicates overbought market and the need to conduct a technical sale.

The May contract in Chicago due to the recent trading days still managed to end the week in the green zone, but steady uptrend has not been established. The nearest support level - 449.5 cents per bushel, level of resistance - 470.75 cents per bushel. Histogram MACD is below zero, which does not inspire confidence in future growth.

Tenders outlook

Iraq seeks to buy 50k mt of wheat from U.S., Canada, Australia; bid deadline is April 10.

Jordan reoffers tender for 100k mt of wheat, seeks lower prices this time; bids accepted until March 31 with shipping for 2H Sept., Oct.  

Japan Cuts Feed-Wheat Import Plan by 12% as Demand Weakens

Country to import as much as 600kt of feed wheat for fiscal year beginning in April, Agriculture Ministry says, releasing its purchasing plan for feed grains.