Additional News From The Floor

Here is some news I missed in my opening letter. It is extremely quiet on the grain floor today.

 

China’s government announced yesterday that it would raise 2013 corn purchase price by 6%

 

Market expects Chinese government to increase state bean purchases this year

 

China Sinograin (China’s state grain stockpilers) has halted wheat stockpiling from top producing Henan Province due to high prices

 

Japan bought 41,565 tons of food wheat via SBS tender for September shipment Breakdown

  • 12,605 tons of Australian wheat
  • 28K tons of Canadian wheat
  • 210 tons of French wheat
  • 750 tons of US SRW and white club wheat

 

South Korea seeks 20K non GM optional origin beans for Aug/Oct shipment

 

Solvent Extractors Association of India said India exported 348,946 tons of oilmeal in June vs. 311,089 tons a year ago

 

Solvent Extractors Association of India said India exported 213,564 tons of soymeal in June vs. 180,987 tons a year ago

 

Solvent Extractors Association of India said India exported 4.8 MMT of oilmeal in the ‘12/13 season down 14.3% from ‘11/12

 

India Monsoon rains 4% above normal in the week to July 3rd

 

FAO estimated ‘13/14 global wheat crop at 704 MMT vs. previous estimate of 702.0 MMT

 

FAO estimated ‘13/14 global corn crop at 972.0 MMT vs. previous estimate of 963.0 MMT

 

European Union estimated EU28 2013 corn crop at 69.7 MMT vs. previous estimate of 66.2 MMT

 

European Union estimated EU 28 2013 wheat crop at 128.9 MMT vs. previous estimate of 127.9 MMT

 

European Union estimated EU 28 2013 barley crop at 58.3 MMT vs. previous estimate of 56.6 MMT

 

Russia’s Ag Min said as of July 4th Russia has harvested 10.3 MMT of grain on 3.0 MH (6.5% complete) with an average yield of 3.48 TPH  vs. 2.76 TPH a year ago . The average wheat yield is 3.51 TPH vs. 2.88 TPH a year ago and the average barley yield is 4.39 TPH vs. 3.19 TPH a year ago

 

Russia’s Grain Union estimated Russia’s Aug grain exports at 2.5 MMT vs. July estimate of 1.5 MMT

 

Russia’s Grain Union expects Russia will account for half of Egypt’s ‘13/14 wheat imports

 

Ukraine Ag Min estimated ‘13/14 Ukraine grain exports at 26.0 MMT (record) vs. ‘12/13 export estimate of 23.0 MMT

 

Ukraine Ag Min estimated 2013 wheat crop at 20-21 MMT vs. previous estimate of 20.0 MMT

 

Kazakhstan Ag Min said they exported 7.1 MMT of grain in ‘12/13 vs. 12.0 MMT in ‘11/12

 

Kazakhstan Ag Min said their 2012 grain crop was 12.8 MMT vs. 26.9 MMT in 2012.

 

 

Upcoming reports/events

  • Weekly COT report comes out today at 230 pm CDT
  • Weekly US export inspections report comes out on Monday at 10 am CDT
  • Weekly US crop progress report comes out on Monday at 3 pm CDT
  • CONAB comes out July 9th with their monthly Brazilian crop report previously
    • Estimated Brazil ‘12/13 bean crop at 81.3 MMT
    • Estimated Brazil ‘12/13 bean exports at 36.78 MMT
    • Estimated Brazil ‘12/13 meal exports at 14.93 MMT
    • Estimated Brazil ‘12/13 bean oil exports at 1.75 MMT
    • Estimated Brazil ‘12/13 corn crop at 78.5 MMT
    • Estimated Brazil ‘12/13 corn exports at 15.0 MMT
    • Estimated Brazil ‘13/14 wheat crop at 5.56 MMT
    • Estimated Brazil ‘12/13 rice crop at 11.92 MMT
    • Estimated Brazil ‘12/13 cotton crop at 326,000 tons
  • On July 10th Brazilian dockers will stop operations in major ports on July 11th port workers will strike on all Brazilian ports
  • Surveyors SGS and Intertek Agri Services come out with July 1-10 Malaysian export estimates on July 10th
  • Malaysia Palm Oil Board comes out on July 10th with their June data report. Based on a Reuters survey here are estimates for the report
    • Palm oil output average estimate is 1.47  MMT vs. May output of  1.384 MMT
    • Palm oil stocks average estimate is 1.74 MMT vs. May stocks of 1.816 MMT
    • Palm oil exports average estimate is 1.45 MMT vs. May exports of  1.412 MMT
  • USDA July supply and demand and crop production report comes out July 11th at 11 am CDT – USDA does not release survey of corn and bean output until August report
  • Last trading day for July futures is July 12th at noon CDT

 

Thank you,

 

Kate Rosenberg