Explore Special Offers & White Papers from ADMIS

Global Ag News for Aug 6th


Wheat prices overnight are up 3 1/2 in SRW, up 3 3/4 in HRW, up 5 3/4 in HRS; Corn is down 2 1/4; Soybeans up 5; Soymeal up $0.08; Soyoil up 0.47.

For the week so far wheat prices are up 12 1/2 in SRW, up 22 in HRW, up 4 3/4 in HRS; Corn is up 5 1/2; Soybeans down 15 3/4; Soymeal up $0.42; Soyoil down 1.70.

Chinese Ag futures (SEP 21) Soybeans up 10 yuan ; Soymeal unchanged; Soyoil up 34; Palm oil down 6; Corn down 4 — Malasyian Palm is up 63. Malaysian palm oil prices overnight were up 63 ringgit (+1.49%) at 4280 with investors weighing prospects for production in second-biggest grower Malaysia with weaker prices of soybean oil.

Midwest corn, soybean and winter wheat forecasts: West: Isolated showers Thursday, around Iowa Friday. Scattered showers Saturday-Sunday. Isolated showers Monday. Temperatures above normal north and below normal south Thursday, near to above normal Friday-Saturday, above normal Sunday-Monday. East: Isolated showers through Saturday, mostly west. Scattered showers Sunday-Monday. Temperatures near to below normal Thursday, near to above normal Friday-Saturday, above normal Sunday-Monday. 6 to 10 day outlook: Scattered showers Tuesday-Saturday. Temperatures above normal Tuesday-Thursday, near to above normal Friday-Saturday.

The player sheet for 8/5 had funds: net sellers of 2,000 contracts of  SRW wheat, buyers of 6,500 corn, sellers of 1,500 soybeans, buyers of 1,500 soymeal, and  sellers of 3,500 soyoil.

Preliminary changes in futures Open Interest as of August 5 were: SRW Wheat up 3,272 contracts, HRW Wheat up 2,144, Corn up 886, Soybeans down 583, Soymeal up 1,156, Soyoil up 7,887.

There were no changes in registrations. Registration total: 0 SRW Wheat contracts; 0 Oats; 0 Corn; 0 Soybeans; 388 Soyoil; 155 Soymeal; 1,288 HRW Wheat.


  • SOYBEAN SALE: The U.S. Department of Agriculture confirmed private sales of 300,000 tonnes of U.S. soybeans to unknown destinations for delivery in the 2021/22 marketing year that begins Sept. 1, 2021.
  • WHEAT PURCHASE: Japan’s Ministry of Agriculture sought 92,285 tonnes of food-quality wheat from the United States and Canada in a regular tender.
  • WHEAT TENDER: Tunisia’s state grains agency issued an international tender to purchase 100,000 tonnes of soft milling wheat and 100,000 tonnes of animal feed barley
  • WHEAT TENDER: A South Korean flour mill issued a tender to buy an estimated 135,100 tonnes of milling wheat sourced from different origins
  • WHEAT TENDER: Jordan’s state grain buyer issued a tender to buy 120,000 tonnes of milling wheat which can be sourced from optional origins
  • WHEAT TENDER: Bangladesh’s state grains buyer issued an international tender to purchase 50,000 tonnes of milling wheat


  • WHEAT TENDER: The Taiwan Flour Millers’ Association issued an international tender to purchase 48,000 tonnes of grade 1 milling wheat to be sourced from the United States
  • WHEAT TENDER: Japan’s Ministry of Agriculture, Forestry and Fisheries (MAFF) said it will seek 80,000 tonnes of feed wheat and 100,000 tonnes of feed barley to be loaded by Nov. 30 and arrive in Japan by Jan. 27, via a simultaneous buy-and-sell (SBS) auction that will be held on Aug. 18.
  • WHEAT TENDER: A government agency in Pakistan issued an international tender to purchase and import 400,000 tonnes of wheat

 U.S. Export Sales of Soybeans, Corn and Wheat by Country

  • Mexico bought 444k tons of the 898k tons of corn sold in the week
  • Mexico was also the top buyer of wheat and countries listed as “unknown” led in soybeans

U.S. Export Sales of Pork and Beef by Country

  • China bought 18.3k tons of the 38.8k tons of pork sold in the week
  • Japan led in beef purchases
  • Figures are in thousands of metric tons:

U.S. Grain Movement by Rail Fell 43.1% Week Ended July 28: USDA

U.S. Barge Shipments of Grain Rose 27% Last Week: USDA

Shipments along the Mississippi, Illinois, Ohio and Arkansas rivers increased in the week ending July 31 from the previous week, according to the USDA’s weekly grain transportation report.

  • Barge shipments of corn rose 19% from the previous week
  • Barge shipments of wheat fell 12% from the previous week

U.S. Corn Crops in Drought Area Rise to 37%: USDA (1)

  • Approximately 37% of U.S. corn crops are within an area experiencing moderate to intense drought, up from 36% last week
  • Spring wheat area in drought remained at 99%

IHS Markit sees 2021 U.S. corn yield at 176.5 bu/acre -traders – Reuters News

Private analytics firm IHS Markit Agribusiness on Thursday forecast U.S. corn production at 14.911 billion bushels, with an average yield of 176.5 bushels per acre, according to traders and portions of an IHS client note seen by Reuters. The firm forecast 2021 soybean production of 4.464 billion bushels, with an average yield of 51.5 bushels per acre.

Saskatchewan Farmers Start Early Harvest as Soil Moisture Drops

The Canadian Prairie province has combined 3% of its crops as the heat rapidly dries plants, Saskatchewan government says Thursday.

  • Harvest is well ahead of the five-year average of less than 1% for this time of year, weekly crop report says
    • Additional 3% ready to be harvested and this will quickly rise
  • Parts of province received minimal rainfall, with many receiving none
    • Precipitation will do little for this crop but will “hopefully” carry over to next year’s soil moisture
    • Large portion of province last received significant rainfall in early June
  • Dryness combined with past week’s hot temperatures have further reduced topsoil moisture
    • Cropland topsoil moisture rated 3% adequate, 31% short, 66% very short
    • Hay and pasture topsoil moisture rated 2% adequate, 25% short, 73% very short

Argentina Truckers Lift Sea Port Blockades for Talks: Nabsa

Blockades have been lifted for talks with the government, but they could resume on the night of Aug. 7 if there’s no agreement, shipping agency Nabsa says in a note to clients.

Argentine Corn, Wheat Crop Estimates Aug. 5: Exchange

The Buenos Aires Grain Exchange releases weekly report on website.

  • 2020-21 corn production estimate unchanged from last week
  • Corn harvest 89.2% complete vs 81.4%

Brazil 2nd Corn Crop Est. Cut to 60.9M T vs 65.3M: Agroconsult

Brazilian consultancy Agroconsult cut its estimate for the country’s second corn crop by 4.4m tonnes due to recent frost damage and planting delays, it says in a statement.

  • Brazil’s second corn crop now seen at 60.9m tonnes from 65.3m tonnes in prior estimate and 83.9m tonnes initially expected
  • Latest forecast is 20.6% lower than 76.7m tonnes produced in 2019/20
  • Revision comes after a crop expedition in major corn producing states Parana and Mato Grosso do Sul from July 26 to Aug.1

France’s Rouen Grain Exports Double in Week to Aug. 4

  • Grain shipments from France’s Rouen port totaled 266,458 tons in the week to Aug. 4, compared with 108,578 tons a week earlier, according to an emailed report
  • Loadings by destination (in tons):
  • Soft wheat
    • U.K. 13,805
    • Gabon 5,500
    • Cameroon 4,500
    • Algeria 30,700
  • Feed wheat
    • Ireland 4,600
    • U.K. 4,052

French Wheat Harvest Two-Thirds Done, Lagging Last Year: AgriMer

Some 66% of France’s soft-wheat crop was harvested as of Aug. 2, versus 97% at the same time last year, FranceAgriMer data showed on Friday.

  • Winter-barley and durum-wheat collection are both about done
  • NOTE: Rains into the weekend will continue delaying wheat harvests and threatening quality in France and Germany, according to a Commodity Weather Group note
  • Conditions could turn drier next week

China to release reserves of commodities ‘essential for livelihood’

China said it would release reserves of commodities “essential for livelihood” in a timely and targeted manner, the state planner said on Friday after floods hit some regions and amid a resurgence of COVID-19 infections in the country.

The National Development and Reform Commission said it would strengthen control and prevention of African swine fever disease in its pig herds after the flooding and would ensure supplies of essential produce from the impact of the floods and COVID-19.

The NDRC said in a statement it would ensure prices do not rise sharply while assuring market supply of important livelihood commodities.

China would strengthen market supervision and severely crack down on fabricating and spreading price increase information, hoarding and collusion to drive up prices, it said.

Last month’s flooding around China’s central Henan province has swept away the crops and animals of some farmers while others are seeking donations of disinfectants to stop the spread of animal disease.

Yangzhou city in eastern Jiangsu province, one of the worst hit by COVID-19 outbreaks recently, saw prices of vegetables rise 50% on July 27 with pork, seafood and eggs also seeing sharp increases, an official at the Yangzhou Municipal Development and Reform Commission said on Tuesday.

Supply of vegetables and other major agricultural products, and prices of important agricultural products would soon return to normal levels in Yangzhou, according to Jiang Kaisheng, deputy director at the Yangzhou Municipal Development and Reform Commission.

China to maintain sow herd at about 43 mln heads in 2021-2025 -ag ministry

China aims to maintain its breeding sow herd at about 43 million heads during the 2021-2025 period, the government said on Friday.

Minimum sow inventory will not be less than 40 million heads in the period, showed a statement jointly issued by top government ministries including the agriculture ministry.

Russian Wheat Export Tax Edges Lower to $31/Ton for Next Week

Russia’s wheat export customs duty will decline to $31/ton, from $31.40/ton, the Agriculture Ministry said Friday on its website. NOTE: The rates are set weekly and take effect three working days after publication.

Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.

ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.                  

A subsidiary of Archer Daniels Midland Company.

© 2021 ADM Investor Services International Limited.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

Latest News & Market Commentary

Explore Special Offers & White Papers from ADMIS

Get Started