Agriant Commodities------------10-7-2023 Grain and Feed News
- Ceyhun Besli
- Jul 10, 2023
- 5 min read
Agriant Commodities------------10-7-2023 Grain and Feed News
Hot Topics----------------------
Russia on Tuesday restated a demand for its state agricultural bank to be reconnected to the global SWIFT payments system to avert the collapse of the Black Sea grain deal, and said it would not accept a reported compromise proposal.
With 13 days remaining until the expiry of the deal, which has allowed Ukraine to export grain from its Black Sea ports despite Russia's invasion, Moscow said there had been no progress on any of its key demands, including the banking issue.
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Wheat -----------------------
Wheat Sep '23 (ZWU23)
645
Milling Wheat Sep '23 (MLU23)
232.00s
The weekly Commitment of Traders report showed the funds were adding back shorts in SRW through the week that ended 7/3. That left the group 54,006 contracts net short. KC wheat spec traders were shown with a 33,555 contract net long after some light short covering. CFTC data confirmed long liquidation in MGE wheat from the managed money firms. That left the group at a net long of 1,992 contracts.
USDA’s FAS reported 405,763 MT of wheat was sold for export during the week that ended 6/29. Estimates were from 50k MT to 350,000 MT. That left the total commitments at 4.621 MMT for the or 24% below the same week last year.
Algeria purchased 200k MT of durum wheat via tender. Thailand purchased 60k MT of feed wheat to be sourced via Romania after tendering for 180k MT.
-AUSTRALIA exported 3,326,244 tonnes of wheat and durum in May, up 9 percent from the 3,046,128t shipped in April, according to the latest data from the Australian Bureau of Statistics.
Russia may export more agricultural products such as wheat and barley to China as Russia is pushing for the construction of a land grain corridor between the two countries, businesses and experts said on Thursday.
Russian President Vladimir Putin instructed the cabinet and the central bank to study the conclusion of an intergovernmental agreement on the Russia-China New Land Grain Corridor by October 1, Russia's Sputnik news agency reported on Thursday.It said the measure will help to increase grain production in the Far Eastern, Ural and Siberian Federal districts, as well as the volume of exports to the Chinese market.
French soft wheat harvest is expected to show a yield 5% above the 10-year average, helped by good sowing conditions and regular rains in early spring, crop institute Arvalis and grain industry group Intercereales said on Thursday.
The 2023 soft wheat yield would reach 7.5 metric tons per hectare (t/ha), up 4.5% from 7.2 t/ha last year, they said.
Wheat BS 11.5 # FOB Panamax #210 usd
Wheat Ukraine 11.5 # Asia Main Ports #375 usd
Wheat BS FW # Asia Main Ports #355 usd
Wheat Australia SFW # Asia Main Ports #305 usd
Wheat Australia ASW # Asia Main Ports #315 usd
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Soybean & Soybean Meal --------
Soybean Aug '23 (ZSQ23)
1432-0
Soybean Meal Aug '23 (ZMQ23)
403.2
Friday’s 1.5% losses across the front months left soybeans lower for the week’s move. November futures closed down by 21 3/4 cents on the day and by 25 1/2 cents on the week. Soymeal prices ended with $5/ton losses on Friday. Soy oil settled 40 to 60 points lower on Friday.
Weekly CoT data had soybean spec traders with an 89,142 contract net long as of 7/3. That was a 10.3k contract reduction from the week. Commercial soybean hedgers lightened up their position by 23k contracts to 147.5k net short. Managed money firms were shown 52,821 contracts net long in soymeal as of Monday. That was a 6k contract lighter net long via long liquidation. In soy oil, spec traders had added new longs for a 42k contract net long.
INDONESIA - Head of the National Food Agency (NFA), Arief Prasetyo Adi, has requested the state logistics bureau Bulog to support the distribution of soybeans to tofu and tempeh producers through cooperatives.
"We want to build an ecosystem that helps tofu and tempeh producers no longer face difficulties in obtaining raw materials (soybeans)," he said in a statement released on Thursday.
The ecosystem will aim to guarantee the stability of soybean availability for producers without being affected by price fluctuations, he noted at the annual meeting of the Association of Indonesian Tofu and Tempe Producers (Gakoptindo).
Brazilian soybean exports totaled a record 13.8 million tonnes in June, as volumes increased for most products in the last week of the month, customs data showed late Monday.
The figure is 38.8% higher than in June 2022´s 9.9 million tonnes and the highest volume sent abroad during the month in data going back to 2012, beating the prior record of 12.7 million tonnes reached in 2021.
The average pace of soybean shipments was 660,522 tonnes per working day last week, lower than the previous week’s pace of 717,068 tonnes but 38.9% higher than the 475,705 tonnes average in June 2022.
The country’s grains exporters association (Anec) projects Brazilian soybean exports to reach 14.2 million tonnes in June.
Soybean USA # FOB Panamax # 575 usd --- -oct/nov -- # 525
Soybean Brasil # FOB Panamax # 515 usd
Soymeal Arg # FOB Panamax # 460 usd
Soymeal USA # Container Q23+95
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Corn ----------------
Corn Sep '23 (ZCU23)
488-0
USDA reported old crop corn bookings were 251.7k MT in the weekly Export Sales report. That was an 80% increase from the prior week and compared to net cancellations from the same week last year. Traders expected between 0 and 500k MT of old crop business going in. New crop export sales were shown at 418k MT for the week, which left forward sales at 3.6 MMT. That is still half the volume coming into this season.
Sep 23 Corn closed at $4.87 1/4, down 11 3/4 cents,
Nearby Cash was $5.28, down 11 cents,
China is expected to produce slightly more corn in 2023-24 due to improved yields and mostly favorable weather, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
Production is estimated at 280 million tonnes, up from 277.2 million tonnes in 2022-23.
Mexico has taken another step in preventing GMO corn from other nations from entering that country. It’s put in place a 50 percent tariff on U.S. white corn imports through December.
U.S. Agriculture Secretary Tom Vilsack said it’s one of the issues the U.S. is pursuing through a US-Mexico-Canada Agreement (USMCA) dispute settlement consultation with Mexico.
“The process was started by the U.S. Trade Representative’s office to request a consultation. Consultations have taken place and we’re just going through the process to try to [correct] what we believe is inappropriate action on the part of the Mexican government, which restricts, and in fact eliminates, the ability to import white corn into the country of Mexico,” Vilsack said. “While we think it’s inconsistent with the trade agreement, it’s inconsistent with the science-based and rules-based trading system. That’s the reason why we are pursuing our remedies under the USMCA.”
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CORN USA # FOB Panamax # 215 usd
CORN UKRAINE # FOB Panamax # 190 usd
CORN ARG # FOB Panamax # 210 usd
CORN BRSL # FOB Panamax # 215 usd
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Other Container Prices -------------------
USA DDGS CNF Indonesisa 305 Usd
USA DDGS CNF South Korea 300Usd
USA DDGS CNF Taiwan 305 Usd
USA DDGS CNF Philipines 315 Usd
USA DDGS CNF Malaysia 305 Usd
USA DDGS CNF Vietnam 310 USD
USA CGM CNF ASIA 745USD
UKRAINE SFM CNF ASIA 365USD
UKRAINE SFMP CNF ASIA 385USD
AUSSIE BARLEY ASIA 300 USD
Freight----------------Freightos Baltic Index (FBX): Global Container Freight Index
$1290
Argentina / China/ Panamax, #45 USD (TO)
Argentina / Indonesia Panamax, #60USD (TO)
USA PNW / China /Panamax , #32USD
BS /Turkey ------ / Coaster #21 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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