Global Ag News for Oct 19th
China Approves Import of Breeding Pigs From Ireland
Wheat prices overnight are up 7 in SRW, up 7 in HRW, up 9 in HRS; Corn is up 1; Soybeans up 6 1/4; Soymeal up $0.35; Soyoil up 0.06.
For the week so far wheat prices are up 9 1/4 in SRW, up 12 1/4 in HRW, up 8 in HRS; Corn is up 8; Soybeans up 10; Soymeal up $0.48; Soyoil up 0.79. For the month to date wheat prices are up 17 3/4 in SRW, up 24 1/4 in HRW, up 64 1/4 in HRS; Corn is down 3; Soybeans down 28 1/4; Soymeal down $7.30; Soyoil up 3.39.
Chinese Ag futures (JAN 22) Soybeans down 35 yuan ; Soymeal down 32; Soyoil up 114; Palm oil up 118; Corn up 5 — Malasyian Palm is up 85. Malaysian markets are closed for holiday.
Preliminary changes in futures Open Interest as of October 18 were: SRW Wheat up 163 contracts, HRW Wheat up 356, Corn up 2,948, Soybeans up 4,531, Soymeal down 802, Soyoil up 1,207.
There were changes in registrations (-11 Soyoil). Registration total: 1,180 SRW Wheat contracts; 2 Oats; 17 Corn; 1 Soybeans; 233 Soyoil; 1 Soymeal; 1,273 HRW Wheat.
Brazil Grains & Oilseeds Forecast: Rio Grande do Sul and Parana Forecast: Isolated showers north Monday-Tuesday. Mostly dry Wednesday-Friday. Temperatures below normal through Friday. Mato Grosso, MGDS and southern Goias Forecast: Scattered showers through Friday. Temperatures near to below normal through Friday.
Argentina Grains & Oilseeds Forecast: Cordoba, Santa Fe, Northern Buenos Aires Forecast: Mostly dry through Wednesday. Isolated showers Thursday-Friday. Temperatures below normal Monday, near normal Tuesday, near to above normal Wednesday-Thursday, near to below normal Friday. La Pampa, Southern Buenos Aires Forecast: Mostly dry through Wednesday. Isolated showers Thursday-Friday. Temperatures below normal Monday, near normal Tuesday, near to above normal Wednesday-Thursday, near to below normal Friday.
Midwest corn, soybean and winter wheat forecasts: West: Mostly dry Monday-Tuesday. Scattered showers Wednesday. Mostly dry Thursday. Isolated showers Friday. Temperatures above normal through Wednesday, near to below normal Thursday-Friday. East: Mostly dry Monday-Tuesday. Scattered showers Wednesday-Thursday. Mostly dry Friday. Temperatures near to above normal Monday, above normal Tuesday-Thursday, near to below normal Friday. 6 to 10 day outlook: Mostly dry Saturday. Isolated showers Sunday-Wednesday. Temperatures near to below normal Saturday-Sunday, near to above normal Monday-Wednesday.
The player sheet for Oct. 18 had funds: net buyers of 1,500 contracts of SRW wheat, buyers of 7,000 corn, buyers of 3,000 soybeans, buyers of 2,000 soymeal, and buyers of 3,500 soyoil.
- WHEAT TENDER: An Ethiopian government agency has issued a new international tender to buy about 400,000 tonnes of milling wheat, European traders said. The deadline for submission of price offers in the tender is Nov. 30.
- SOYOIL, SUNOIL TENDER: Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), said on Sunday it was seeking soyoil and sunflower oil in an international purchasing tender for arrival Dec. 5-25. The deadline for offers is Oct. 20.
- WHEAT TENDER: A United Nations agency issued an international tender to purchase about 200,000 tonnes of milling wheat on behalf of the Ethiopian government
- WHEAT TENDER: Jordan’s state grains buyer issued an international tender to purchase 120,000 tonnes of wheat
- WHEAT TENDER: The Ethiopian government issued an international tender to buy about 300,000 tonnes of milling wheat
USDA CROP PROGRESS: Corn 52% Harvested, Soybeans 60% Harvested
Highlights from the report:
- Corn harvest 52% vs 41% last week, and 57% a year ago
- Corn 60% G/E vs 60% last week, and 61% a year ago
- Corn mature 97% vs 94% last week, and 97% a year ago
- Soybean drop leaves 95% vs 91% last week, and 96% a year ago
- Soybeans harvested 60% vs 49% last week, and 73% a year ago
- Winter wheat planted 70% vs 60% last week, and 76% a year ago
- Winter wheat emerged 44% vs 31% last week, and 50% a year ago
- Cotton 64% G/E vs 64% last week, and 40% a year ago
- Cotton harvested 28% vs 20% last week, and 33% a year ago
U.S. Inspected 976k Tons of Corn for Export, 2.298m of Soybean
In week ending Oct. 14, according to the USDA’s weekly inspections report.
- Wheat: 140k tons vs 447k the previous wk, 242k a yr ago
- Soybeans: 2,298k tons vs 1,743k the previous wk, 2,337k a yr ago
- Corn: 976k tons vs 843k the previous wk, 913k a yr ago
U.S. Corn, Soybean, Wheat Inspections by Country: Oct. 14
Following is a summary of USDA inspections for week ending Oct. 14 of corn, soybeans and wheat for export, from the Grain Inspection, Packers and Stockyards Administration, known as GIPSA.
- Soybeans for China-bound shipments made up 1.71m tons of the 2.3m total inspected
- Mexico was the top destination for corn inspections, and also led in wheat
Brazil Soybean Planting 22% Done as of Oct. 14: AgRural
Pace is the second fastest on record, consulting firm AgRural says in emailed report.
- Moisture levels in the soil and good weather are helping to boost planting, AgRural says
- Planting was at 10% a week earlier, and 8% a year before
- Summer corn seeding is 45% complete, vs 38% a week earlier and 44% in previous year
China’s September Agriculture Trades: Summary
General Administration of Customs in Beijing released agriculture and metal final trade figures for September.
- Soybean imports -29.8% y/y to 6.88M tons
- Corn imports +226.9% y/y to 3.53M tons
- Wheat imports -40.4% y/y to 0.64M tons
- Rice imports +138.5% y/y to 0.38M tons
Ukraine 2022 winter wheat sowing 75% complete -ministry – Reuters News
Ukrainian farms had sown 5 million hectares of winter wheat for the 2022 harvest as of Oct 18, equating to 75% of the expected area of 6.68 million hectares, the agriculture ministry said on Tuesday.
- Winter wheat accounts for 95% of Ukraine’s total wheat sowing area.
- The winter grain sowing area will also include 1.02 million hectares of winter barley and the sowing is 50% complete, the ministry said.
- Last year the autumn drought reduced the area planted with winter grains, with farmers sowing 6.1 million hectares of winter wheat, 954,700 hectares of winter barley and 125,200 hectares of rye for the 2021 harvest.
- A major grain grower and exporter globally, Ukraine plans to harvest a record 80.3 million tonnes of grain in 2021.
- The ministry on Tuesday said that farms had harvested 52 million tonnes of grain from almost 73% of its sowing area as of Oct. 18, with the yield averaging 4.48 tonnes per hectare.
Ukraine Wheat Exports Up 6.9% Y/y Between July-Oct. 18: Ministry
Ukraine’s wheat exports for the current marketing year reached 10.7 million tons for the period between July and Oct. 18, according to data published on the Agriculture Ministry’s website.
- NOTE: Marketing year starts July 1
- Total grain exports rose 11.7% y/y to almost 16.5m tons
Brazil Farmers Seeing Fertilizer Deliveries Canceled: Aprosoja
Soybean farmers in the Center-West and Matopiba regions have been reporting that some fertilizer and glyphosate deliveries have been canceled by suppliers, Bartolomeu Braz Pereira, head of farmers’ group Aprosoja, says in telephone interview.
- “Some farmers are waiting for deliveries to start seeding”: Braz Pereira
- Retailers say fertilizer makers are citing a scarcity of raw materials
- Biggest concern is for winter-corn crop as most farmers haven’t bought crop nutrients yet
China approves import of breeding pigs from Ireland
China has allowed imports of breeding pigs from Ireland, the country’s customs office said on Tuesday. The breeding pigs must be put under quarantine in Ireland for no less than 30 days, before export, according to a notice published on the website of the General Administration of Customs. The approval took effect on Oct. 18, according to the notice.
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