MATIF wheat gained 1 percent. The US and Australian market tone was easier. Canola and rapeseed settled 2pc lower.
- Chicago March 2024 wheat up 2.25c/bu to US633.5c/bu;
- Kansas March 2024 wheat down 6.75c/bu to 656c/bu;
- Minneapolis March 2024 wheat down 8.5c/bu to 730.5c/bu;
- MATIF wheat March 2024 up €2.25/t to €232/t;
- Black Sea wheat futures has not quoted since 11 August;
- Corn March 2024 down 6.25c/bu to 484.25c/bu;
- Soybeans May 2024 down 12.5c/bu to 1330c/bu;
- Winnipeg canola May 2024 down C$12.80/t to C$667.70/t;
- MATIF rapeseed May 2024 down €8/t to €438/t;
- ASX January 2024 wheat down A$1/t to $395/t;
- ASX January 2024 barley unchanged at A$330/t;
- AUD dollar down 1 point to US$0.6551.
International
US private exporters reported the sale of another 372,000t of SRW wheat to China during the 2023-24 marketing year and 136,000t of soybeans.
Algeria’s OAIC reportedly purchased up to 500,000t of durum, for Jan-Feb shipment. Prices were seen at around $455/t c&f for larger Panamax shipments from Canada and Australia, and about $470/t c&f for smaller handymax shipments, mostly from Canada. Between 50,000-100,000t of Mexican durum was also purchased at $435/t c&f.
Egypt’s GASC purchased 180,000t of milling wheat, including 120,000t from Russia via a 270-day letter of credit at $255/t fob, with freight at $23.25/t. They also purchased 60,000t from Ukraine at $249.90/t fob, with freight at $19.10/t.
South Korea’s NOFI reportedly purchased 65,000t of feed corn in an international tender, at $266/t c&f for late April arrival. They also purchased 65,000t of feed wheat in a separate tender, at $276/t c&f for early May.
Australia
Local markets crept higher again yesterday, with Victorian track markets showing a slightly firmer tone again in cereals, while delivered homes were presenting some opportunity to engage in prompt markets. Harvest activity is at full tilt trying to get in front of the next weather event this week. Forecasts are mixed, but harvesting in eastern Australia is expected to be at a standstill by the weekend because of rain.
November finished the month with 2.39 million tonnes (Mt) of total grain on the shipping stem, down from 2.55Mt in the previous week. December is currently sitting at 3.74Mt of total grain, including wheat at 1.78Mt, a record 1.29Mt of barley, 665,000t canola, and no sorghum.
HAVE YOUR SAY