Agriant Commodities------------06-2-2023 Grain and Feed News
- Ceyhun Besli
- Feb 6, 2023
- 4 min read
Agriant Commodities------------06-2-2023 Grain and Feed News
Hot Topics----------------------
U.S. Federal Reserve is likely to need to lift the benchmark rate above 5% and keep it there to squeeze too-high inflation out of an economy where the labor market remains strong even after nearly a year of the most aggressive round of Fed rate hikes in 40 years
That was the betting in financial markets on Friday after the U.S. Labor Department reported employers added more than half a million jobs last month, far more than expected, and the unemployment rate fell to 3.4%, the lowest in more than 50 years
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Wheat -----------------------
Wheat Mar '23 (ZWH23)
757-2
-Egypt's state grains buyer the General Authority for Supply Commodities (GASC) secured 535,000 tons of Russian wheat in an international tender funded by the World Bank, Ministry of Supply and Internal Trade announced on February 3rd.The shipment is scheduled to arrive between the second half of February and the first half of March.
-U.S. farmers expanded plantings of winter wheat by 11% from a year ago to an eight-year peak, encouraged by high prices tied to concerns over food supplies following Russia's invasion of major wheat producer Ukraine, as well as relatively low input costs and expanded crop insurance programs.
But even with the added acres, a multi-year drought that has gripped the key Plains wheat belt puts harvest prospects in doubt, especially in states like top producer Kansas and Oklahoma, the No. 3 winter wheat producer last year.
The U.S. Department of Agriculture expects Australia to produce 36.6 million tonnes of wheat in its 2022-23 marketing year, an all-time high. After a smooth planting season, growing areas have received plentiful rain. Concerns that heavy rainfall during the harvest season might affect quality did not change the USDA's forecast.
High wheat prices were a driver of last year's soaring inflation in many countries, prompting warnings of a global food crisis. Now, market pressures are easing.
Much of Australia's wheat goes to Asia, which accounts for one-quarter of global wheat imports, and particularly China, the region's top consumer of the grain.
China imported 7.87 million tonnes of wheat overall from January to October, stocking up for year-end and early 2023 consumption, Chinese customs data shows. Around 60% of the total, or over 4.9 million tonnes, came from Australia, up from 1.9 million tonnes, or about one-fifth, a year earlier.
Wheat BS 11.5 # FOB Panamax #280 usd
Wheat Ukraine 11.5 # Asia Main Ports #375 usd
Wheat BS FW # Asia Main Ports #345 usd
Wheat Australia SFW # Asia Main Ports #345 usd
Wheat Australia ASW # Asia Main Ports #355 usd
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Soybean & Soybean Meal --------
Soybean Mar '23 (ZSH23)
1527
Soybean Meal Mar '23 (ZMH23)
491.3
U.S. soybean futures declined on Friday on spillover weakness from crude oil prices and expectations of a massive Brazilian soy harvest, but most-active soymeal futures SMv1 set an 8-1/2-year high on tight supplies of the feed ingredient, analysts said.
Argentine .,Rainfall over the past few days has improved the conditions of planted soybeans and corn, especially in plantations that were sowed later. The development makes for welcome good news considering that both crops represent more than US$30 billion in exports and that the oilseed by itself brings in about US$20 billion per year.
This is key in terms of the Argentine economy’s need for fresh dollars, after the strong year-on-year setback in last January’s liquidation, which came to just over US$928 million.
Soy sowing was finally completed this week, with some 16.2 million hectares planted, according to the Buenos Aires Grain Exchange’s latest survey. At the same time, water conditions also improved, with 47% of the planted area reportedly in adequate or optional conditions.
Still, it’s not all good news, as the institution isn’t ruling out another cut in its medium-term harvest estimates –currently at 41 million tons– since the oilseed planted in the first phase suffered the ravages of December and January, months with low humidity and scant rainfall.
So far, everything suggests that the Buenos Aires entity will make a cut to 36-38 million tons in the medium term, which would put it close to the Rosario Stock Exchange’s current figures.
Soybean USA # FOB Panamax # 585 usd
Soybean Brasil # FOB Panamax # 585 usd
Soymeal Arg # FOB Panamax # 590 usd
Soymeal USA # Container H23+112
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Corn ----------------
Corn Mar '23 (ZCH23)
674
U.S. farmers are planning to boost corn acreage in 2023, eyeing lower prices of fertilizer needed to grow the crop and hoping for a bumper crop after a late season drought withered last year's grain harvest and left U.S. corn supplies near a decade low.
Plans for the upcoming season were made even as doubts mounted about demand and price gains for soybeans outstripped corn late last year. But early acreage forecasts and interviews with farmers show their faith in the biggest U.S. crop has not waned.
A big crop from the world's largest corn exporter, pared with more modest demand as global economic growth cools, could further ease prices for the staple used in fuel and animal feed that have come down after surging to a 10-year high when Russia invaded major corn producer Ukraine a year ago.
The decline in the cost of key inputs such as fertilizer in the second half of 2022 sparked hopes that corn would be profitable in 2023 even though it typically requires a more-active management style and greater financial investment than the No. 2 U.S. cash crop, soybeans.
CORN USA # FOB Panamax # 300 usd
CORN UKRAINE # FOB Panamax # 260 usd
CORN ARG # FOB Panamax # 300 usd
CORN BRSL # FOB Panamax # 300 usd
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Other Container Prices -------------------
USA DDGS CNF Indonesisa 370 Usd
USA DDGS CNF South Korea 360Usd
USA DDGS CNF Taiwan 380 Usd
USA DDGS CNF Philipines 390 Usd
USA DDGS CNF Malaysia 370 Usd
USA DDGS CNF Vietnam 380 USD
USA CGM CNF ASIA 880USD
UKRAINE SFM CNF ASIA 410USD
UKRAINE SFMP CNF ASIA 430USD
AUSSIE BARLEY ASIA 425 USD
Freight----------------Freightos Baltic Index (FBX): Global Container Freight Index
$2,062
Argentina / China/ Panamax, #45 USD (TO)
Argentina / Indonesia Panamax, #60USD (TO)
USA PNW / China /Panamax , #32USD
BS /Turkey ------ / Handy #25 USD
BS /China /Panamax #62 USD
BS / Indonesia Panamax #62 USD
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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 © 2023
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