The Monday Morning Papers

18/05/15 -- The overnight grains are just about universally green to start the week. Let's see how long that lasts....

The only red on the board relates to lower values for the pound and euro against the US dollar - are Barclays right (see story below)??

This morning I read that the new Russian Ag Minister is saying that regional authorities should make every effort to increase the pace of spring planting - in particular Siberia (only 17% sown) and the North West Federal District (36% planted). Getting twitchy?

The Russian Ag Ministry said that the country had exported 4.75 MMT of grains since the Feb 1 wheat export duty came into force, a 23% decline compared with the same period a year ago. Wheat exports are down 60% at 1.61 MMT. That pace should pice up again now that the duty has been abolished. Mike Lee reported seeing long queues of trucks carrying grain leading to the ports on a whistle-stop tour of Russia last week

Russia's season to date exports are still up 18.4% at more than 28 MMT, including 16% more wheat (20.08 MMT).

APK Inform say that Ukraine seaports only shipped 132.7 TMT of grains last week, down sharply from 496.5 MMT the previous week.

Barley exports via seaports last week were nil, backing up the theory that these are just about done. Corn exports were 85,900 MT and wheat shipments were 46,800 MT, they say.

The Ukraine State Stas Service say that the country's May 1 grain stocks were 12.9 MMT, including 6.8 MMT of corn, 4.6 MMT of wheat and 1.0 MMT of barley.

Canada says that it has exported 12.7 MMT of wheat (excluding durum) so far, in a season which now has only 12 weeks left to go. That's a 5% increase on a year ago.

Canada has also exported 17% more durum wheat than a year ago (4.0 MMT) and 3% more canola (6.7 MMT).

Two separate South Korean companies are reported to have bought 45,000 MT each of Australian hard wheat over the weekend for October shipment.

Another South Korean buyer has purchased 63,000 MT of optional origin corn for Oct/Dec shipment.

The Brazilian government have increased the minimum support price that they will pay for wheat by 4.6%, but growers say that this is still below the cost of production which is said to be up 14%.