17-01-2021 AG Newswire

Agriant Commodities------------

17-January -2021--------------

Quotes of the Day----------------------

Opportunity is missed by most people because it is dressed in overalls and looks like work. 

Hot Topics----------------------

Russia said Friday that a new duty on shipments will rise even more than expected, just a few weeks after being imposed in mid-February, and taxes will continue at some level after the current season ends in June

Wheat -----------------------

Wheat Mar '21 (ZWH21)

670-s 

Wheat futures continue to surge, lifting sharply since last week's USDA report.

After midday losses, front month Chicago wheat closed the last trade day of the week 2 3/4 to 5 1/2 cents stronger. KC futures maintained the high ground closing up by at least 4 1/4 cents. MGE wheat closed the session 2 3/4 to 4 cents in the black

we have seen a small upward movement in the Australian cash market, so far the gains are lagging CBOT futures significantly

Ukrainian milling wheat export prices have continued to rally this week, supported by an upward trend on the Russian market and a decrease in expected global wheat output, analyst APK-Inform said on Thursday.

Ukrainian milling wheat export asking prices hit a six-year high at $268 a tonne FOB Black Sea on high demand from exporters and a significant rise Russian grain prices.

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Wheat 11.5 Protein Blacksea Ukraine Fob Bulk # 280 USD

Wheat 11.5 Protein Blacksea Russia Fob Bulk # 280USD

Wheat 11.5 Protein SA Argentine Fob Bulk # 275 USD

Wheat ASW Australian #280FOB

Soybean & Soybean Meal --------

Soybean Mar '21 (ZSF21)

1416-

Soybean Meal Mar '21 (ZMF21)

463.2s

Soybean supplies did not have as large of an adjustment as corn supplies. USDA estimates total soybean supply at 4.695 billion bushels, down 14 million bushels from last month, when soybean supplies were estimated at 4.709 billion bushels. This is a result of USDA lowering yield estimates for the 2020 soybean crop from 50.7 bushels per acre to 50.2 bushels per acre.

Prices surged due to soaring demand from the world’s biggest importer, China, and falling global supplies due to the La Niña weather phenomenon, especially from Brazil, the world’s biggest supplier.

Argentina weather forecast was quite threatening. The USDA updates were slightly supportive against expectations, but the Argentine forecast seemed to spark aggressive buying. 

Argentine Meal Fob Basis +35 premium

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Corn ----------------

Corn Mar '21 (ZCH21)

531s  

With Chinese corn use and imports growing while other nations’ production are dropping, “the imbalance created by these developments is pushing world corn prices

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Ddgs market to Asia main ports CNF 345 USD

USA Cgm Market Asia main ports CNF 835USD

Freight----------------

Argentina / China/ Panamax, 37 USD

USA Pasific West / China /Panamax , 25 USD

Russia /Turkey /Coaster , 27 USD

Ukraine /China /Panamax 31 USD

Ukraine / Indonesia Panamax 35 USD

Australia /China / Panamax 17-25 USD west/east

AGRIANT COMMODITIES present information based on sources /news there are no guarantees as to the accuracy or completeness of the information contained herein whether in an Copyright © 2020