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Morning round-up, Friday July 31 2020

  • India’s rice export prices rose as the coronavirus crisis caused logistical challenges, according to Reuters, as exporters struggled to fulfill orders due to limited containers and mill workers at the biggest handling port. Meanwhile widespread flooding in Bangladesh severely damaged crops, submerging nearly 50,000 hectares of paddy fields.

  • The Buenos Aires Grains Exchanges said morning frosts in Argentina’s central farm belt have stressed wheat crops that are already impacted by prolonged dry weather. The exchange had to cut its 2020-21 wheat planting to 6.5m hectares from an original 6.8m forecast. Despite the frost warning, it kept its wheat sowing estimate unchanged.

  • Brazil’s 2021-21 soybean production is expected to jump to a record of more than 130m tonnes next season, according to a Reuters poll, which shows Brazil farmers may increase output by about 8% in the 2020-21 cycle from the 120.9m tonnes the government says the country harvested last year.

  • Tunisia’s state grains agency initially purchased an estimated 50,000 tonnes of soft milling wheat, 75,000 tonnes of barley, and 25,000 tonnes of durum in an international tender, according to European traders.

  • Chinese buyers booked their single biggest purchase of US corn ever, which extended their large purchases of American agricultural goods. The USDA said that private exporters reported the sale of 1.937m tonnes of corn to China for delivery in the 2021-21 marketing year, which tops the previous biggest deal to China of 1.762m tonnes reported two weeks ago.
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