Agriant Commodities------------ 27-11-2022 Grain and Feed News
- Ceyhun Besli
- Nov 28, 2022
- 4 min read
Agriant Commodities------------ 27-11-2022 Grain and Feed News
Hot Topics----------------------
*Protests against strict Covid measures in China have spilled into a second night and spread to the biggest cities.
Demonstrators gathered in the capital Beijing and the financial hub Shanghai.
Many held up blank pieces of paper to express their discontent and acknowledge the censorship. Some have, however, gone as far as calling for President Xi Jinping to step down.
Millions have been affected by nearly three years of mass testing, quarantines and snap lockdowns.
It is very unusual for people to publicly vent their anger at Communist Party leaders in China, where any direct government criticism can result in harsh penalties.
*Ukraine, partners launch $150 mln grain export plan to help vulnerable nations*
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Wheat -----------------------
Wheat DEC '22 (ZWZ22)
775-4 Closing
Russian wheat will be the first item to be traded at the inauguration of Egypt's Commodity Exchange, local media report.Starting Sunday, November 27, certain quantities of imported wheat will be offered at auction from the Commodity Supply Authority's stocks, at a rate of twice a week..
Ukrainian will provide 125,000 tons of wheat to three African countries including Sudan and Yemen under a food humanitarian programme to countries in Africa and Asia.
Russia’s invasion of Ukraine has worsened the food crisis in Africa, which is already affected by drought and conflicts. The blockade of Ukraine’s Black Sea ports by Russia threatens to trigger a global food crisis, given that Ukraine is one of the world’s main agricultural exporters.
In a meeting held on November 24, the Ukrainian council of ministers approved a decree by President Volodymyr Zelenskyy on the provision of humanitarian aid to the countries of Africa and Asia.
Wheat, Ukraine 11.5 pro # 285 FOB / 380 usd Container Asia PK -HCMC-JKT-BKK
Wheat, Russia 12.5 pro # 315 USD FOB
Wheat, Romania 12.5 # 330 USD ,
Wheat, milling, 12.0%, Argentina, Upriver 380 USD FOB
Wheat, feed, Black Sea # 370 usd Container Asia
Wheat SRW # 340 usd FOB GULF
Wheat Australia SFW # Asia Main Ports #345 usd
Wheat Australia ASW # Asia Main Ports #365 usd
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Soybean & Soybean Meal --------
Soybean NOV '22 (ZSF23)
1436 Closing
Soybean Meal DEC '22 (ZMZ22)
408.8 Closing
The Chinese soybean meal price was moved into a downward trend for the first time since it reached a historic average high of Yuan 5,660/mt on Nov.10. Chinese crushers expect the drop to continue, as they catch up on soybean crushing volumes starting from this week.
According to industry sources, as of Nov. 22, the average spot soybean meal price was Yuan 5,000/mt for regions in North China, down by 9%
.
The soybean crushing volume last week was slightly up, from 1.3 million mt to 1.5 million mt. With a higher soybean import volume, the soybean crushing volume this week is expected to reach 2 million mt, up 33%, several industry sources said.
As of Nov. 21, soybean meal inventories were still down by 20% month on month. Compared with the same period of last year, the meal inventory was down by 55%, market sources said. The huge decline in inventory was led by tight soybean supply and recovering feed demand for hog raising since June.
The inventory is expected to increase gradually in December after crushers speeding up soybean crushing activities with better soybean supply, the analyst added. However, the build-up of soybean meal inventory might be slower before the Chinese Lunar New Year as feed demand for hogs is expected to be strong.
Replacement crush margin for forward months
The hog inventory in China is likely to drop after the Lunar New Year holiday. It takes a longer time for farmers to restock the hogs, hence, the feed demand will probably be weaker during February and April, during which the soybean meal inventory will start to build up faster.
Soymeal, 48% protein, FOB NOLA #510USD
Soymeal, 47% pro, FOB Argentina # 485 USD October
Soybeans, FOB NOLA #585 USD
Soybeans, Brazil, FOB #470 USD
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Corn ----------------
Corn Sep '22 (ZCZ22)
668 Closing
Iowa farmers warn of losses over Mexican GMO corn ban
A proposed ban on genetically modified corn imports to Mexico would have substantial impacts on Iowa farmers if carried out, farm groups say.
There’s still uncertainty about the details of the proposed policy, but U.S. officials said a total ban on genetically modified corn — which makes up more than 90 percent of corn grown in the United States — would cause a drop in the price of corn and in farmers’ profitability in the coming years.
Mexican President Andrés Manuel López Obrador initiated the ban by presidential decree in 2020, with a scheduled start date of Jan. 1, 2024.
Corn, USA 2YC FOB NOLA 330USD
Corn, USA 2YC FOB PNW 340USD
Corn, FOB Argentina port, Upriver#300 USD
Corn, FOB Romania 280USD
Corn, FOB Russia – 280USD
Corn, FOB Ukraine, 260 USD via Romania
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Other Container Prices -------------------
USA DDGS
CNF Indonesisa 360 Usd
CNF South Korea 350Usd
CNF Taiwan 370 Usd
CNF Philipines 380 Usd
CNF Malaysia 360 Usd
CNF Vietnam 370 USD
USA Corn Gluten Feed, USA FOB 880 usd
UKRAINE Sunflower-# – CNF Main Port Asia – 405usd
AUSTRALIA Feed Barley CNF Main Port Asia – 340usd
Freight----------------Freightos Baltic Index (FBX): Global Container Freight Index
$2,786
North America West Coast to China/East Asia + 7%
China/East Asia to North America West Coast - %24
Argentina / China/ Panamax, #55 USD (TO)
Argentina / Indonesia Panamax, #60USD (TO)
USA PNW / China /Panamax ,#38USD
BS /Turkey ------ / Handy #30 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 © 2022
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