Agriant Commodities------------10-1-2023 Grain and Feed News
- Ceyhun Besli
- Jan 10, 2023
- 5 min read
Agriant Commodities------------10-1-2023 Grain and Feed News
Hot Topics----------------------
US stocks erased earlier gains after two Federal Reserve members said they expected the policy rate to surpass 5 per cent in 2023, curbing investors’ hopes for less restrictive monetary policy.
Investors price in 75% chance US central bank will raise rates by a quarter of a percentage point this month
--------------------------------------------------------------------------------------------------------------
Wheat -----------------------
Wheat Mar '23 (ZWH23)
748
Wheats faded their midday gains on Monday and closed fractionally mixed but mostly lower. Chicago prices were fractionally to 2 cents in the red at the bell. March SRW traded in a 17 3/4 cent range on the day. KC wheat futures ended the session with fractional to 3 1/2 cent losses. Spring wheat held onto fractional to 2 cent gains for the close.
Going into the quarterly Grain Stocks report, traders are looking for a 1.339 bbu wheat stock on December 1st. The full range of estimates is between 1.213 bbu and 1.429 bbu. Last year’s count was 1.378 bbu.
USDA reported 201,673 MT of wheat was shipped during the week that ended 1/05. That was up from 86k MT during the prior week but was 33k MT below the same week last year. The weekly update had 12.09 MMT of wheat shipments accumulated for the season through 1/05.
Turkey’s state grain board TMO has issued an international tender to purchase an estimated 565,000 tonnes of milling wheat, European traders said on Friday.
The deadline for submission of price offers in the tender is Jan. 12.
Wheat shipment is sought in two periods in 2023, Feb. 1 and Feb. 15 and also March 1 and March 31.
Australia wheat production is expected to rise to a record 42 million tonnes as results from the final phase of harvest show higher yields in the world’s second-largest exporter of the grain, traders and an analyst said.
Higher Australian wheat output comes at a time of stiff competition from the Black Sea region, where all-time high output in Russia is keeping theglobal marketwell supplied. The benchmark Chicago wheat futures Wv1 are on track for a weekly decline of more than 5%, the biggest in six months.
In December, the Australian Bureau of Agricultural and Resource Economics (ABARES) estimated wheat production, the country’s major grain crop, at 36.6 million tonnes in the 12 months to June 30, 2023.
Record Forecast: Russia is forecast to export a record-high 21.3 million metric tons of wheat in the first half of 2023, according to a new outlook from SovEcon - with total exports for the 2022/23 marketing year predicted to hit a record 44.1 million tons. "Active shipments, backed by a bumper Russia's crop, are likely to put pressure on global prices," said the firm.
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
-----------------------------------------------------------------------------------------------------------------------------------
Soybean & Soybean Meal --------
Soybean Jan '23 (ZSH23)
1478
Soybean Meal Jan '23 (ZMH23)
469
The soy market faded midday gains going into the Monday close. Beans ended the day with a 2 cent gain for in-delivery Jan, but 4 to 6 1/2 cent losses across the other front months. March soybeans printed a 15 cent range on the day. Meal futures closed with $6.40 to $7.30/ton losses after setting contract highs to close the Friday session. Soy oil futures were down by 18 to 21 points on the day.
Harvesting of Brazil's 2022/2023 soybean crop had reached 0.04% of the national planted area on Thursday last week, compared with 0.2% at the same time a year earlier, agribusiness consultancy AgRural said on Monday.
The consultancy cited disruption to field work because of wet conditions in states including top soybean grower Mato Grosso.
Additionally this year, the soy harvest in Parana state will start later because of lengthening of the crop cycle in the west and southwest, where cloudy weather at the beginning of the season slowed plant development.
In Brazil's southernmost state of Rio Grande do Sul, where planting of the last soybean areas is still in progress, the hot and dry weather is worrying farmers, but there is still no definitive confirmation of crop failure.
in mid-December, AgRural estimated Brazil's soy production at a record 153.6 million tonnes for 2022/2023. A new estimate will be released in mid-January.
Soybean USA # FOB Panamax # 585 usd
Soybean Brasil # FOB Panamax # 585 usd
Soymeal Arg # FOB Panamax # 560 usd
Soymeal USA # Container H23+112
--------------------------------------------------------------------------------------------------------------------------------------
Corn ----------------
Corn Mar '23 (ZCH23)
650
Futures peaked after 10 AM CST and leaked lower the rest of the day, ending the day fractionally to 1 3/4 cents in the red. March was up by 3 earlier in the session, completing the day with a 6 3/4 cent range.
Analyst estimates for December 1 corn stocks range from 10.737 bbu to 11.973 bbu. The average of estimates is 11.173 bbu, which would be 468 mbu tighter yr/yr – but on a 1.138 bbu lighter production. Q1 demand is implied at 4.134 bbu – disregarding production changes and/or imports.
.According to Xinhua, a ship carrying 68,000 tons of corn imported from Brazil by COFCO Corp berthed at a port in South China's Guangdong Province on Saturday. The corn will soon be transported to domestic feed firms after clearing inspection and quarantine.
China has been mostly reliant upon the US and Ukraine for corn imports in the past years, but those importing channels have become fragile due to the fraught relations between China and US, and the outbreak of the conflict between Russia and Ukraine.
CORN USA # FOB Panamax # 300 usd
CORN UKRAINE # FOB Panamax # 260 usd
CORN ARG # FOB Panamax # 300 usd
CORN BRSL # FOB Panamax # 300 usd
---------------------------------------------------------------------------------------------------------------------------------------
Other Container Prices -------------------
USA DDGS CNF Indonesisa 360 Usd
USA DDGS CNF Korea 350Usd
USA DDGS CNF Taiwan 370 Usd
USA DDGS CNF Philipines 380 Usd
USA DDGS CNF Malaysia 360 Usd
USA DDGS CNF Vietnam 370 USD
USA CGM CNF ASIA 880USD
UKRAINE SFM CNF ASIA 420USD
UKRAINE SFMP CNF ASIA 440USD
AUSSIE BARLEY ASIA 425 USD
Freight----------------Freightos Baltic Index (FBX): Global Container Freight Index
$2,168
Argentina / China/ Panamax, #45 USD (TO)
Argentina / Indonesia Panamax, #60USD (TO)
USA PNW / China /Panamax , #32USD
BS /Turkey ------ / Handy #30 USD
BS /China /Panamax #62 USD
BS / Indonesia Panamax #62 USD
---------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------------
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
Comments