Last update: Fri, 01 Jul 2016 02pm

Agriculture and Allied: World


The following were Thursday's Rotterdam vegetable oil prices at 1600 GMT:
Malaysian palm oil futures bounced back from early losses to close 1.3 percent higher on Thursday, as the market recovered from an oversold state, while gains in soya also boosted sentiment. Palm lost 10.2 percent in June on weak fundamentals, as traders expect seasonal output to rise from now until the final quarter of the year, while exports are also seen slowing down until the next major festive season of Diwali in late October.
Palm oil on the European vegetable oils market was offered mixed on Tuesday on contrasting price signals, with most players moving cautiously following recent volatility due to Britain's vote to leave the European Union. Crude palm oil was offered between $15 a tonne down and $7.50 up from Monday after Malaysian palm oil futures closed between 27 ringgit per tonne lower and 20 ringgit higher.
Spot basis bids were mostly unchanged for hard red winter wheat in the southern US Plains on Tuesday as freshly harvested supplies continued to roll in from the fields and futures fell to contract lows, dealers said. Farmers, as expected, largely were reporting big yields and low protein content. A dealer in northwest Kansas said rains there were delaying harvest while another dealer said harvest was nearly complete in north-central Oklahoma.
Jordan's state grains buyer purchased 100,000 tonnes of hard milling wheat to be sourced from optional origins in a tender for the same volume which closed on Tuuesday, European traders said It was purchased at about $204.40 a tonne c&f for shipment in the second half of December, 2016, and in the first half of January, 2017, they said. Seller was said to be trading house Sarels, they added.
Thailand sold 1.11 million tonnes of rice from state stockpiles in its fourth auction this year, around half of what was initially planned, the Commerce Ministry said on Monday. The world's No 2 rice exporter after India is struggling to offload stocks of about 9.5 million tonnes it built up under a controversial rice-buying scheme implemented by the prior government led by ousted Prime Minister Yingluck Shinawatra.
Export sales of US corn to be shipped ahead of the fall harvest have topped last year's pace for the first time this season, government data on Thursday showed, fuelled by competitive prices and a lack of available grain from Argentina and drought-hit Brazil. Buyers from at least 31 different countries booked US corn shipments last week, the most diverse pool of buyers since a record 32 unique destinations made purchases in the week ended October 11, 2007, according to US Department of Agriculture data.