TODAY
Wheat prices overnight are up 3 in SRW, up 5 1/2 in HRW, up 2 1/2 in HRS; Corn is up 5 1/2; Soybeans up 11 1/2; Soymeal up $0.36; Soyoil up 0.39.
Markets finished last week with wheat prices up 42 3/4 in SRW, up 57 in HRW, up 12 1/2 in HRS; Corn is up 18; Soybeans up 63 3/4; Soymeal up $2.76; Soyoil up 1.84.
For the month to date wheat prices are up 30 1/2 in SRW, up 44 3/4 in HRW, up 25 in HRS; Corn is up 43 3/4; Soybeans up 125 3/4; Soymeal up $63.00; Soyoil up 0.49.
Chinese Ag futures (MAY 22) Soybeans up 28 yuan ; Soymeal down 7; Soyoil up 128; Palm oil up 134; Corn down 2 — Malasyian Palm is down 45. Malaysian palm oil prices overnight were down 45 ringgit (-0.97%) at 4604.
There were no changes in registrations. Registration total: 1,900 SRW Wheat contracts; 39 Oats; 50 Corn; 244 Soybeans; 143 Soyoil; 0 Soymeal; 92 HRW Wheat.
Preliminary changes in futures Open Interest as of December 23 were: SRW Wheat down 1,548 contracts, HRW Wheat up 1,686, Corn up 11,334, Soybeans down 8,596, Soymeal down 5,685, Soyoil down 10,864.
Brazil Grains & Oilseeds Forecast: Rio Grande do Sul and Parana Forecast: Mostly dry through Monday. Temperatures near normal Thursday-Friday, near to above normal Saturday-Monday. Mato Grosso, MGDS and southern Goias Forecast: Scattered showers through Friday, north Saturday-Monday. Temperatures near normal through Monday.
Argentina Grains & Oilseeds Forecast: Cordoba, Santa Fe, Northern Buenos Aires Forecast: Mostly dry Thursday. Isolated showers east Friday. Mostly dry Saturday-Monday. Temperatures near to above normal through Monday. La Pampa, Southern Buenos Aires Forecast: Mostly dry Thursday. Isolated showers east Friday. Mostly dry Saturday-Monday. Temperatures near to above normal through Monday.
The player sheet for Dec. 23 had funds: net unchanged SRW wheat, buyers of 4,000 corn, sellers of 2,000 soybeans, buyers of 2,000 soymeal, and buyers of 2,000 soyoil.
TENDERS
- CORN, SOYMEAL SALE: Iranian state-owned animal feed importer SLAL is believed to have purchased an estimated 300,000 tonnes of animal feed corn and about 240,000 tonnes of soymeal in an international tender this week
- WHEAT SALE: Iranian state agency the Government Trading Corporation is believed to have purchased around 240,000 tonnes of milling wheat in a tender which closed on Wednesday
- WHEAT SALE: The Taiwan Flour Millers’ Association purchased an estimated 110,000 tonnes of milling wheat to be sourced from the United States in a tender which closed on Thursday
- DURUM SALE: Algeria’s state grains agency OAIC is believed to have purchased durum wheat in a tender which closed on Tuesday after negotiations continued into Wednesday
- BARLEY SALE: Jordan’s state grain buyer has purchased about 60,000 tonnes of animal-feed barley to be sourced from optional origins in an international tender which closed on Thursday, traders said.
- WHEAT TENDER: Iraq’s state grains buyer has issued a tender to buy a nominal 50,000 tonnes of milling wheat with a limited number of trading companies asked to offer
PENDING TENDERS
- WHEAT TENDER: Jordan’s state grain buyer has issued an international tender to buy 120,000 tonnes of milling wheat, which can be sourced from optional origins
- RICE TENDER: Bangladesh’s state grains buyer has issued an international tender to purchase 50,000 tonnes of rice with import using land transport by railway
China’s Xi Urges Stabilizing Agriculture, Rural Development: TV
Chinese President Xi Jinping reiterated ensuring grain security and agricultural product supply at a meeting before the two-day Central Rural Work Conference held Dec. 25-26, state-run China Central Television reports.
- Xi urges farmland protection and expanding soybean and oil crops planting
- Xi calls for continued efforts in rural poverty relief and rural revitalization
Russian Wheat Harvest Stands at 75.9M Tons in 2021: IFX
Russia collected 120.7m tons of grains, including 75.9m tons of wheat, Interfax reported, citing Russian Statistics Agency data.
- NOTE: 2020’s wheat harvest was 85.9m tons
- The data is preliminary; the final figures will be published in March
- READ: Russia Weighs Increased Tax on Wheat Exports If Price Rises
Russian Wheat-Exports So Far This Season Decline 17% Y/y: Agency
Russian wheat shipments for the 2021-22 season amounted to 21.1m tons as of Dec. 23, down 17% from a year earlier, the Federal Center of Quality and Safety Assurance for Grain and Grain Products said on its website, citing inspections before exports.
- That means wheat exports totaled about 700k tons in the week to Dec. 23, compared with 1m tons a week earlier
- Exports of all grains are at 29.1m tons so far this season
- Barley exports declined 33% y/y
- Corn exports rose 7%
- NOTE: Data are preliminary and include exports to the Eurasian Economic Union, which is a customs union of countries that includes Russia
Russian Wheat-Export Tax to Rise to $94.90/Ton Next Week
Russia’s wheat export customs duty will increase to $94.90/ton next week, from $94, the Agriculture Ministry said Friday on its website.
- NOTE: The rates are set weekly and take effect three working days after publication
- The $94.90/ton tax will be applied from Dec. 29 to Jan. 11, agriculture ministry press service says in a separate comment
- The tax for the Jan. 12-18 period will be announced on Dec. 30
Argentine Soy, Corn, Wheat Estimates Dec. 23: Exchange (Table)
The Buenos Aires Grain Exchange releases weekly report on website.
- 2021-22 Wheat production est. raised by 0.5m tons to 21.5m tons
- Harvest 78.3% complete
- Soybean and corn planting estimates maintained
India’s Winter Crop Area Rises 1.2% to 60.07 Million Hectares
The area under winter-sown crops, such as wheat, rapeseed and pulses, climbed to 60.07 million hectares (148 million acres) as of Dec. 24, from 59.35 million hectares a year earlier, according to the farm ministry.
Wheat area fell 1.4% to 30.55 million hectares, while land under rice cultivation increased to 1.29 million hectares, up 1.6% from a year earlier, the ministry said in a statement on Friday.
Malaysia’s Dec. 1-25 Palm Oil Exports 1,242,761 Tons: AmSpec
Shipments fall 1% m/m from 1,254,934 tons exported during Nov. 1-25, according to AmSpec Agri on Monday.
Indonesia Cuts CPO Reference Price for Jan., Keeps Tax Rate
Govt lowers the reference price of crude palm oil for January to $1,307.76/ton from $1,365.99/ton in December, Musdhalifah Machmud, deputy for food and agriculture at the Coordinating Ministry for Economic Affairs, says in text message on Monday.
Indonesia will keep CPO export tax and additional levy in January unchanged at $200/ton and $175/ton, respectively
LIVESTOCK: U.S. Hog and Pig Inventory Fell 4% Y/y; Est. -2.8%
The hog herd totaled 74.201m head on Dec. 1, according to the USDA report released Thursday on its website.
- Sows retained for breeding totaled 6.18m head, a 0.1% increase from year ago
- Hogs for slaughter fell 4.4% y/y to 68.021m head
- Pig crop fell to 33.712m from 34.987m last year
- Pigs per litter rose to 11.19 from 11.05 last year
LIVESTOCK: U.S. Red Meat Production Rose 2.5% Y/y in November
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