Export Summary-Mexico buys corn, Iraq buys rice

  • June 16 (Reuters) - Snapshot of the global export markets for grains, oilseeds and edible oils as reported by government and private sources as of the end of business on Friday: CORN SALE: The U.S. Agriculture Department on Friday said private exporters reported the sale of 120,000 tonnes of corn for delivery to Mexico in the 2017/18 marketing year. RICE SALE: Iraq's state grains buyer purchased about 30,000 tonnes of rice to be sourced from Argentina in an international tender. It was priced at around $548 a tonne c&f. Seller was said to be Turkish trading house Tiryaki. PENDING TENDERS: SOYOIL TENDER: Iran's state purchasing agency GTC issued an international tender to purchase up to 30,000 tonnes of soyoil, European traders said. Tender deadline for the crude, degummed soyoil is July 10. (Compiled by Mark Weinraubin Chicago)
  • Iraq Makes First Purchase of U.S. Rice under the U.S.-Iraq Memorandum of Understanding

  • Iraq Makes First Purchase of U.S. Rice under the U.S.-Iraq Memorandum of Understanding

    May 30, 2017
    Destination: Iraq
    Iraq Makes First Purchase of US Rice, Port of Lake Charles
    ARLINGTON, VA -- With help from a last minute, full-court press by USA Rice involving Congress, the U.S. Embassy, and high-level State Department and U.S. Department of Agriculture (USDA) officials, Iraq made its first-ever purchase of U.S. rice under the U.S. – Iraq Memorandum of Understanding (MOU).  This sale will help U.S. rice exporters gain a foothold in the Iraqi market, and heightens prospects for new sales in the future.   Iraq’s precedent-setting purchase of 30,000 MT of U.S. long grain milled rice comes after more than 16 months without any Iraqi purchases of U.S. rice.  “We are very pleased to see that Iraq has stepped up to meet its commitment to purchase U.S. rice under this agreement,” said USA Rice President & CEO Betsy Ward.  “This could not have come at a better time for the U.S. rice industry, and we are grateful for the cooperation of the Iraqi Grain Board (IGB) and the Ministry of Trade (MOT), and are confident that this transaction will mean more Iraqi purchases of U.S. rice in the near future.”   The 30,000 MT sale for July delivery was awarded to ADM, and comes almost a full year since the MOU was negotiated between the MOT and the U.S. Embassy in Baghdad.   “The USA Rice team, including our local office in Iraq, worked hand-in-glove with Congress, the State Department, and USDA over the last year to keep the pressure on, ensuring that Iraq follows through on its commitment to purchase competitively-priced U.S. grown rice under this MOU,” said Hugh Maginnis, USA Rice vice president international.  “We appreciate the teamwork and persistence of so many people who contributed to this successful sale.  This gives our rice farmers a very welcome shot in the arm.”
  • Iraq still in talks about buying 100,000 T U.S. rice -traders

  • May 19, 2017, 09:40:00 AM EDT By Reuters

     Shutterstock photo
    HAMBURG, May 19 (Reuters) - Iraq's state grains buyer
    remains in talks about buying around 100,000 tonnes of rice to
    be sourced from the United States, with no purchase yet made,
    European traders said on Friday.
        Offers were submitted on May 15 and must remain valid until
    May 21, they said. [nL8N1ID372]
        Traders said the trade ministry in Iraq, a major global
    buyer of wheat and rice, had sent out price inquiries to trading
    houses about buying the rice rather than issuing a formal
    international tender.
        Only two offers were made for nearby prompt shipment, they
        One U.S.-based multinational trading house offered $587 c&f
    for 100,000 tonnes and a Middle Eastern trading company offered
    40,000 to 60,000 at $595 a tonne c&f.
        "Iraq normally says a minimum of three offers should be made
    for grains and rice purchases so a cancellation is expected, but
    it is not clear if this is a formal tender," one European trader
    said. "The rather tight supplies of U.S. rice available for
    shipment up to the end of June make this sale anyway difficult
    for exporters."
        Iraq's cabinet authorised the trade ministry on May 9 to
    make direct purchases of wheat and rice to guarantee food
    security. [nL8N1IB6YY]
        Baghdad has been struggling to import grains and rice for
    its food subsidy programme after introducing new payment and
    quality terms which left trading houses unwilling to participate
    in its international tenders.
        Iraq told suppliers earlier this year it would pay for its
    grain in instalments. Traders said they were informed by Iraq's
    Grain Board that low oil prices and other financial factors were
    forcing the country to delay payments. [nL3N1H64NC]
    Read more: http://www.nasdaq.com/article/iraq-still-in-talks-about-buying-100000-t-us-rice-traders-20170519-00501#ixzz4hXDa5wvp