Global Ag News for Dec 30
TODAY—WEEKLY ETHANOL STATS—
Overnight trade has SRW Wheat down roughly 2 cents, HRW down 2; HRS Wheat down 1, Corn is down 2 cents; Soybeans down 10; Soymeal down $5.00, and Soyoil down 30 points.
Chinese Ag futures (May) settled up 64 yuan in soybeans, up 16 in Corn, up 54 in Soymeal, up 92 in Soyoil, and up 90 in Palm Oil.
Malaysian palm oil prices were up 35 ringgit at 3,585 (basis March) on export expectations.
Brazil, conditions will be favorable for crops in much of the nation’s production region.
In Argentina, there will continue to be a struggle for any widespread moisture. Rain will be mostly erratic through at least week 1 of the outlook with a majority of it focused in the northern half of the nation.
The player sheet had funds net buyers of 3,000 contracts of SRW Wheat; bought 25,000 Corn; net bought 20,000 Soybeans; bought 10,000 lots of Soymeal, and; bought 5,000 lots of Soyoil.
We estimate Managed Money net long 10,000 contracts of SRW Wheat; long 350,000 Corn; net long 219,000 Soybeans; net long 95,000 lots of Soymeal, and; long 116,000 Soyoil.
Preliminary Open Interest saw SRW Wheat futures down roughly 1,110 contracts; HRW Wheat up 180; Corn up 15,900; Soybeans up 2,100 contracts; Soymeal down 3,100 lots, and; Soyoil down 4,600.
There were changes in registrations (Soymeal down 25)—Registrations total 49 contracts for SRW Wheat; ZERO Oats; Corn ZERO; Soybeans 100; Soyoil 1,313 lots; Soymeal 175; Rice 313; HRW Wheat 113, and; HRS 1,041.
Taiwan buys 82,325 tonnes wheat of U.S.-origin in tender – Reuters News
The Taiwan Flour Millers’ Association purchased an estimated 82,325 tonnes of milling wheat to be sourced from the United States in a tender which closed on Wednesday, European traders said.
Brazil corn exports seen at 4.26 mln T in Dec, Anec says – Reuters
- BRAZIL CORN EXPORTS SEEN REACHING 4.26 MILLION TNS IN DECEMBER VERSUS 4.42 MILLION TNS FORECAST IN PREVIOUS WEEK – ANEC
Argentine soy crushers sign deal with oilseed workers, ending strike – Reuters News
Argentina’s soy crushing companies signed a contract with the country’s oilseed workers unions late on Tuesday, ending a 20-day strike over wages that had paralyzed exports from the world’s top supplier of soymeal livestock feed. The deal, following a more than 10-hour negotiation session, includes a two-part 25% increase in salaries from January to August. Increases for the rest of the year are to be determined by the inflation rate, Argentina’s CIARA soy crushing chamber said in a statement.
Argentine ports strike delays $1.458 bln in grains shipments – exchange – Reuters News
The loading of 162 ships has been delayed in Argentine grain and agro-industrial ports, bogging down $1.458 billion in exports so far due to a strike by oilseed workers and grains inspectors, an analyst with the Rosario grains exchange said on Tuesday. Soy crushing and other farm industry activities have been put on hold since the workers walked off the job on Dec. 9.
VEGOILS-Palm extends gains; firmer ringgit, cheaper U.S. soyoil slow down climb – Reuters News
Malaysian palm oil futures extended gains for a second day, tracking higher prices of rival vegetable oils on the Dalian Commodity Exchange, although the gains were capped due to a stronger ringgit and cheaper U.S. soyoil. he benchmark palm oil contract rose 29 ringgit, or 0.8%, to 3,579 ringgit ($886.33) a tonne by midday. It rose 0.2% in the previous session. ($1 = 4.0380 ringgit).
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