Commodities Agri Buzz 10 February

According to data published by Malaysian Palm Oil Board (MPOB), Malaysia’s total palm oil share in Jan. chop to the minimum since July 2015, at 2.31 million tones. On a (m-t-m) basis, the inventory of the country's 2th leading palm oil producer fallen 12.38 Per cent from 2.63 million tons in Dec. 2015. According to data published by Malaysian Palm Oil Board (MPOB) today, crude palm oil (CPO) production across Malaysia in Jan. also fallen at a better trim of 19.26 Per cent from the last month to 1.13 million tonnes. In Dec, production volume came to 1.4 million tones.

As per the hottest report from United States Department of Agriculture (USDA), the worldwide coarse grain production for 2015/16 is expected unmoved at 366.90 million tons from the previous month. Upper Brazil and Argentina corn production more than offset lesser corn opening shares in these same countries and lesser production elsewhere. Brazil and Argentina 2015/16 opening shares are lowered with upper 2014/15 exports. Brazil corn production for 2015/16 is increased 2.5 million tons based on upper first-crop yields and signs that healthy local corn rates, reflecting the devalued domestic currency, would raise 2th-crop plantings. Argentina corn production is improved 1.4 million tons on upper zone. Argentina corn production is revised WASDE-550-2 upper for 2014/15, also on upper zone. South Africa corn production for 2015/16 is lessened 1.0 million tons, as sustained historic drought circumstances further lessen crop forecasts despite some stabilizing rain during the month of January. Indonesia corn production is lessen 0.5 million tons. 

Other coarse grain production varies are mostly offsetting with sorghum worse for Mexico, rye increased for EU, and barley improved for Argentina. Worldwide coarse grain consumption for 2015/16 is increased 0.9 million tons with foreign consumption up 0.2 million tons. The leading vary present month is a 2.0-million-ton raise in China corn feed use as relative internal market rates are anticipated to support greater corn feeding at the expense of wheat. Corn use is also increased for Mexico, India and Turkey. Partially offsetting are corn feeding decreases for Brazil and Argentina. Sorghum feed use is lesser for Mexico. 

Global coarse grain imports for 2015/16 are increased 4.3 million tons with corn imports upper for South Africa, Iran, India, Indonesia, Mexico, and Turkey. Corn exports are increased for Brazil, Argentina, and South Africa, but lowered for the United States. Barley exports are increased for Argentina and Kazakhstan, with upper imports for Saudi Arabia.  Worldwide coarse grain closing shares for 2015/16 are slightly upper, as better barley and rye shares more than offset a small drop for corn.