Agriant Commodities------------ 26-06-2022 Grain and Feed News
- Ceyhun Besli
- Jun 27, 2022
- 4 min read
Agriant Commodities------------ 26-06-2022 Grain and Feed News
Hot Topics----------------------
-Market Movers Asia, June 27-July 1: Commodity markets will eye OPEC+ meeting, China’s demand recovery
-News came out this week from a US official stating that food and fuel exports from Russia were not subject to sanctions. Reportedly, the government is trying to quietly encourage purchases of more Russian fertiliser to cool prices. This further eased supply concerns and therefore eased prices.
-A series of key economic announcements on both sides of the pond, is keeping recession concerns bubbling away. The US Federal Reserve Chair, Jerome Powell, said earlier in the week that the possibility of a US recession remains on the table. Meanwhile, the rate of inflation in the UK peaked at 9.1% in May, rising at the fastest rate for 40 years. These global growth risks are keeping a lid of prices at the moment, despite a tight supply outlook.
-A delegation from Turkey is travelling to Moscow to try and further negotiations with Russia to allow the release of some Ukrainian grain from the country. The plan envisages creating three corridors out of Odessa, which would allow both Ukrainian and Russian food products to be shipped. This could amount to some 30-35Mt of grain over the next six to eight months. However, any final agreement would be subject to all parties (Turkey, Ukraine, Russia and the UN) coming together
-Harvest Pressure …… The US winter wheat harvest is commencing at pace. The latest crop progress report from the USDA pegged harvest at 25% complete, the fastest starting rate since 2018. The dry, warm weather, that has stymied yield potential of the crop has assisted this strong start. The EU harvest has also begun, again the start early due to the dry weather.
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Wheat -----------------------
Wheat Sep '22 (ZWU22)
936.4-Closing
-Egypt has contracted to buy 180,000 tonnes of wheat from India, less than previously agreed, but is looking at ways to extract more flour from grain and even use potatoes in bread making as it tries to trim imports, the supply minister said on Sunday.
Egypt, one of the world's biggest wheat importers, has in recent years purchased much of its grain from the Black Sea, but saw those imports disrupted by Russia's invasion of Ukraine
-INDIA HAS exported 1.5 m metric tonnes of wheat to Bangladesh since the country banned export of the grain on May 13, Food Secretary Sudhanshu Pandey said on Wednesday.Addressing a press conference, Pandey said, “There are many countries [which have requested import of wheat from India]. We would not like to discuss… This is a matter of foreign policy.”
However, he refused to divulge details of the requests received from other countries for wheat import from India.
-In cash markets, Aussie old crop bulk FOB prices remain very firm due to lack of capacity leading to a somewhat stagnant market however container values have come off considerably with SFW $380’s CFR SEA and APW1 $450’s CFR SEA for Aug shipment. Rom/Bulg 11.5 pro is offered for Aug shipment at $464/mt CFR SEA.
-In cash markets, APW FOB ex WA was quoted at $420 for Dec/Jan and CFR SEA at $455-460/mt. EU11.5 MW for July/Aug load was quoted at $415/mt FOB + freight to SEA works out at $475-480/mt CFR which is around the same level as ASW old crop CFR for Aug/Sep shipment.
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Wheat, Ukraine 11.5 pro # NO PRICES
Wheat, Superior, France, Rouen #395USD FOB
Wheat, Russia 12.5 pro # 397 USD FOB
Wheat, Romania 12.5 # 398 USD , MATIF
Wheat, milling, 12.0%, Argentina, Upriver 465 USD FOB
Wheat, feed, Black Sea ----USD FOB 380- 365 SEP/OCT
Wheat Australia SFW # Asia Main Ports #430 usd
Wheat Australia ASW # Asia Main Ports #450 usd
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Soybean & Soybean Meal --------
Soybean Nov '22 (ZSX22)
1424 Closing
Soybean Meal Aug '22 (ZMQ22)
411.4 Closing
-Soybean prices for July shipment to China fell 4.7% in the past week, tracking Chicago Board of Trade futures lower amid faster soybean planting in US and declining FOB Santos prices led by active farmer selling in Brazil.
-The US Department of Agriculture said June 13 that 88% of the expected soybeans area was already seeded by June 12, compared to the market expectation of 90% and 93% in the same period in 2021.
-According to the USDA, 70% of fields were in good or excellent condition. Meanwhile, the soybean prices on CBOT were also hit by potential US interest rate rises to tame inflation.
FOB Santos soybean basis was on decline as a stronger dollar against the Brazilian Real attracted higher selling volume from Brazilian farmers. FOB Santos soybean basis fell 48 cents/bushel week on week.
Soymeal, 48% protein, FOB NOLA #530 USD
Soymeal, 47% pro, FOB Argentina #475 USD- 460 USD October
Soybeans, FOB NOLA #670 VS 630 NC
Soybeans, Brazil, FOB #670 VS 650
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Corn ----------------
Corn Sep '22 (ZCU22)
682.6Closing
-Argentine truck unions extended a widespread protest over fuel price hikes and diesel shortages on Friday, but the dismantling of some road blockades meant that truck traffic and operations in the country’s key Rosario grains ports returned to normal.
-The protests, which started Wednesday, coincide with the peak period of the harvest cycle in the South American country, which is the world’s top exporter of processed soy oil and meal, the No. 2 for corn and an important wheat producer.
Corn, 2YC FOB NOLA USA3# 320 USD
Corn, FOB Argentina port, Upriver#280 USD
Corn, FOB Brazil port# 295 USD
Corn, FOB Romania 345 USD
Corn, FOB Russia – NO PRICE
Corn, FOB Ukraine, NO PRICE
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Other Container Prices -------------------
USA DDGS corn, 35 profat, USA FOB NOLA #305 USD – CNF Main Port Asia – 40 usd
USA Corn Gluten Feed, USA FOB NOLA-#815 USD – CNF Main Port Asia – 885 usd
UKRAINE Sunflower-# – CNF Main Port Asia – 460 usd
AUSTRALIA Feed Barley CNF Main Port Asia – 440 usd
Freight----------------Freightos Baltic Index (FBX): Global Container Freight Index
$7,032
Argentina / China/ Panamax, #75 USD (TO)
Argentina / Indonesia Panamax, #60USD (TO)
USA PNW / China /Panamax ,#46USD
BS /Turkey ------ / Handy #25 USD
BS /China /Panamax #68 USD
BS / Indonesia Panamax #55 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 © 2022
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