Monday’s markets mostly moved in fractions. Oilseeds gained and wheat eased. Crude oil now has given back the 4pc gain it made over two previous days.
- Chicago wheat December contract up US4.75 cents per bushel to 818.5c/bu;
- Kansas wheat December contract up 12.75c/bu at 956.25c/bu;
- Minneapolis wheat December contract up 17.25c/bu to 963c/bu;
- MATIF wheat December contract down €3.25/t to €324/t;
- Black Sea wheat December contract up US$0.50/t to $318.50/t;
- Corn December contract down 0.75c/bu to 657.25c/bu;
- Soybeans March 2023 contract down 9/bu to 1444.75c/bu;
- Winnipeg canola March 2023 contract was down C$1.50/t at $876.50/t;
- MATIF rapeseed February 2023 contract down €10.25/t to €626/t;
- ASX Jan 2023 wheat contract up $A5/t to $470/t ;
- ASX Jan 2023 barley contract down $10.50/t to $327.50/t;
- AUD dollar firmer at US$0.670.
FranceAgriMer reports that as at November 7, 2023-24 common wheat planting are 92-per-cent complete (84pc previous week, 86pc previous year), durum is at 50pc (23pc, 36pc) and winter barley at 97pc done (93pc, 94pc). Common wheat condition was rated at 98pc good to very good (99pc, 97pc), and winter barley at 99pc, the same as last week and this time last year.
Ukraine’s Ag. Ministry reports that as at November 11, 2022-23 grain harvesting yielded 36.1 million tonnes (Mt) from 8.5m hectares, equivalent to 76pc of seeded area). Ukraine’s maize harvest is said to have yielded 9.6Mt from 1.6Mha (39pc), and sunflower is at 9.5Mt from 4.4Mha (93pc).
Saudi Grains Organization (SAGO) purchased about 1Mt of milling wheat from EU, North and South American, Australian and Black Sea origins, with prices understood to have ranged from US$374.25-$390.59/t for April-June shipment. They booked twice the amount they tendered for
Iraq’s state grain agency has reportedly purchased 150,000t of milling wheat from Canada, Lithuania, and Australia, trade sources said on Monday. The cheapest volume booked was Australian wheat at $480/t c&f. Offers were also made from Canada at $489.80/t c&f, and Lithuania at $499/t c&f.
South Korea’s Major Feedmill Group (MFG) purchased 55,000t feed wheat, likely sourced from Australia, at $354.70 c&f for March-April shipment.
Tunisia’s state grains agency purchased 100,000t common wheat at $377.34-$381.70 c&f, 100,000t durum at $528.89-$537.68 c&f and 50,000t feed barley at $343.50-$349.34 c&f, all for December-January shipment.
Local markets kicked off the week on the quiet side as growers and buyers continue to digest this harvest which is now looking like it will be another long, drawn-out and stop-start process.
Old-crop parcels continue to trade in depot along the east coast at values that have been relatively steady. New-crop values remain wide, with Jan ASX East Coast Wheat bid at A$460/t and offered around $480/t yesterday to settle the day out at $470/t, while barley was around $345/t along the east coast.