News From The Grain Floor

Here is more news from this morning – Reminder Informa comes out in about 13 minutes

-Katey

 

Nikkei down 1.45%

Hang Seng up .103%

Shanghai Index up .828%

 

Palm oil up 33

 

China grain market closes – beans up 23, meal up 37, bean oil up 60, corn up 1, palm oil up 30, rapeseed unchanged, rapeseed meal up 7, rapeseed oil up 24

 

At G20 summit about 830 am CDT – Russian president Putin said Russia would assist Syria if strikes launched

 

Egypt GASC bought 60K tons of Romanian wheat for Nov shipment – yesterday Egypt attache said enough wheat supply until Jan

 

Egypt FIHC bought 23,500 bean oil and 12,000 sunflower oil for Oct shipment

 

Pakistan bought 25K Ukrainian wheat for October shipment

 

South Korea NOFI canceled tender for 60K optional origin feed wheat due to high prices

 

South Korea NOFI bought 60K optional origin corn for Feb shipment

 

Tunisia canceled tender for 42K durum wheat optional origin for Oct shipment. Tunisia should retender next week

 

CNGOIC said China’s ‘13/14 bean imports may be below USDA estimate of 69.0 MMT

 

CNGOIC estimated Aug bean imports at 6.0 MMT

 

CNGOIC estimated China’s 2013 rapeseed imports at 4.0 MMT (record) mostly from Canada and may import 600-800,000 tons from Australia

 

China.gov.cn said China has bought 9 cargoes of Argentine soybeans this week for Sept/Oct shipment

 

Hearing China bought 1 cargo of US beans on Wednesday night

 

TALK of good demand for US meal for Nov shipment

 

FC Stone estimated Brazil’s ‘13/14 bean crop at 87.5 MMT (record) vs. 81.5 MMT in ‘12/13 and up 3.7% from FC Stone’s previous estimate

 

FC Stone estimated Brazil’s ‘13/14 bean planting area at 28.83 MMT up 4% from a year ago

 

Some meteorologists have said dry weather in Brazil may delay bean planting until October

 

Macquarie estimated 2013 US bean yield at 40.9 BPA and said if rains come within the next few weeks US bean yield could be above 42.0 BPA

 

Macquarie estimated 2013 US bean ending stocks at 158 MB vs. USDA estimate of 220 MB

 

Macquarie said they are bearish soybeans at current levels

 

Russia’s Ag Min said as of Sept 5th Russia harvested 63.9 MMT of grain on 27.1 MH (58.9% of total area) with an average yield of 2.36 TPH. A year ago Russia harvested 56.4 MMT of grain on 30.2 MH with an average yield of 1.87 TPH

 

Kazakhstan At Min said as of Sept 6th they have harvested 4.02 MMT of grain on 3.35 MH (21.2% of total area) with an average yield of 1.2 TPH . A year ago Kazakhstan harvested 7.19 MMT of grain with an average yield of .77 TPH

 

Kazakhstan Ag Min estimated 2013 grain yield at 1.16 TPH

 

France customs data shows France exported 829,000 tons of soft wheat in July up 7% from a year ago

 

FranceAgriMer said France 2013 soft wheat crop is at 36.7 MMT up 3% from 2012 and vs. previous estimate of 36.0 MMT

 

FranceAgriMer said soft wheat yield is at 7.4 TPH unchanged from previous estimate and up .4% from a year ago

 

FranceAgriMer estimated ‘13/14 corn crop at 15.6 MMT (1st estimate) up 1.9% from a year ago

 

Some scattered showers and thunder storms in forecast for Midwest , but more rain is needed

 

56 new ethanol receipts were registered yesterday afternoon

 

Dec bean oil 50 day moving average is 4413

 

Buenos Aires Grains Exchange weekly Argentine crop report

  • ‘13/14 corn area estimated at 3.56 MH unchanged from previous estimate and down 3.2% from a year ago
  • Said that 45% of Argentina’s wheat crop are in very good condition
  • Said wheat areas are dry.
  • Said 90% of barley areas are in good to excellent condition
  • Sunflower planting is 12.4% complete vs. 12.2% a week ago and vs. 23.2% from a year ago
  • Estimated sunflower planting area at 1.9 MH unchanged from previous estimate

 

Deliveries

  • Minneapolis wheat 0
  • Beans 0
  • Meal 0
  • Bean oil 247 with the date at 9/03
    • House Bunge stopped 15
    • House Term stopped 48
    • Customer JP Morgan stopped 4
    • House ADM issued 247
  • Corn 2 with the date at 2/22
    • Customer ADM stopped and issued 2.
  • Ethanol 56 with the date at 5/30
  • Wheat 159 with the date at 8/29
    • House FC Stone issued 5
  • KC wheat 1 with the date at 7/15
    • Customer ADM stopped and issued 1

 

Highlights from today’s US export sales report

  • Wheat – Net sales of 668,400 MT for delivery in the 2013/2014 marketing year were up 21 percent from the previous week and 18 percent from the prior 4-week average. Increases were reported for Brazil (187,000 MT, including 50,000 MT switched from unknown destinations), Mexico (93,100 MT), Indonesia (65,400 MT), Italy (54,600 MT, including 20,000 MT switched from unknown destinations), Colombia (52,800 MT), and Chile (32,900 MT). Decreases were reported for Guatemala (18,300 MT) and Taiwan (2,000 MT). Net sales of 79,000 MT for 2014/2015 were for unknown destinations. Exports of 954,800 MT–a marketing-year high–were up 16 percent from the previous week and 20 percent from the prior 4-week average. The primary destinations were China (185,900 MT), Brazil (172,100 MT), Japan (102,400 MT), the Philippines (75,600 MT), Mexico (73,700 MT), Peru (61,300 MT), Italy (39,400 MT), and Malaysia (36,500 MT).
  • Corn – Net sales reductions of 113,200 MT for 2012/2013 resulted as increases for Costa Rica (19,100 MT, including 17,900 MT switched from unknown destination), Mexico (16,100 MT), El Salvador (6,000 MT, including 5,500 MT switched from unknown destinations), Taiwan (3,900 MT), and Canada (1,000 MT), were more than offset by decreases for Colombia (85,000 MT) and unknown destinations (72,800 MT). Net sales of 328,300 MT for 2013/2014 were primarily for unknown destinations (137,200 MT), Japan (55,400 MT), El Salvador (33,400 MT), Jamaica (28,200 MT), and Venezuela (27,000 MT). Decreases were reported for Trinidad (6,000 MT). Exports of 371,400 MT were up 13 percent from the previous week and from the prior 4-week average. The primary destinations were Mexico (174,800 MT), Japan (102,400 MT), Taiwan (33,300 MT), and Cuba (25,000 MT).
  • Beans – Net sales of 5,100 MT for 2012/2013 resulted as increases for Mexico (7,300 MT), Japan (800 MT), Vietnam (300 MT), Canada (300 MT), and Malaysia (100 MT), were partially offset by decreases for Taiwan (3,700 MT). Net sales of 844,100 MT for 2013/2014 were primarily for China (599,500 MT), Russia (90,000 MT), unknown destinations (80,300 MT), and Indonesia (31,000 MT). Decreases were reported for Mexico (11,600 MT). Exports of 59,800 MT were down 21 percent from the previous week and 35 percent from the prior 4-week average. The primary destinations were Mexico (33,600 MT), Taiwan (13,600 MT), Vietnam (3,400 MT), Indonesia (3,400 MT), and Japan (3,100 MT).
  • Meal – Net sales of 57,800 MT for 2012/2013 resulted as increases for Venezuela (25,000 MT), Canada (23,100 MT), Guatemala (15,000 MT, switched from unknown destinations and decreases of 500 MT), Nicaragua (11,300 MT, including 15,000 MT switched from unknown destinations and decreases of 3,700 MT), and Mexico (9,900 MT), were partially offset by decreases for unknown destinations (27,300 MT), Turkey (8,200 MT), and Trinidad (3,800 MT). Net sales of 84,300 MT for 2013/2014 were primarily for Ecuador (32,800 MT), Guatemala (16,000 MT), unknown destinations (15,000 MT), and El Salvador (12,000 MT). Decreases were reported for Venezuela (25,000 MT). Exports of 158,500 MT were up noticeably from the previous week and 66 percent from the prior 4-week average. The primary destinations were the Philippines (52,500 MT), Mexico (42,900 MT), Guatemala (22,200 MT), Canada (15,600 MT), and Nicaragua (11,300 MT).
  • Bean oil – Net sales of 9,200 MT for 2012/2013 were primarily for Norway (8,000 MT) and Haiti (1,000 MT). Net sales reductions of 2,400 MT resulted as increases for Mexico (3,000 MT) and Venezuela (3,000 MT), were more than offset by decreases for Norway (8,000 MT) and Canada (400 MT). Exports of 3,000 MT were down 6 percent from the previous week and 17 percent from the prior 4-week average. The primary destinations were Canada (1,600 MT), Mexico (1,100 MT), and Trinidad (100 MT).
  • Cotton – Net Upland sales of 163,300 RB for 2013/2014 were primarily for China (83,000 RB), Turkey (23,700 RB), Thailand (14,700 RB, including 2,300 RB switched from Japan and decreases of 500 RB), Guatemala (11,200 RB), and Indonesia (9,800 RB). Decreases were reported for Morocco (10,300 RB). Net sales of 44,100 MT for 2014/2015 were reported for South Korea (22,400 RB), Morocco (20,200 RB), and Guatemala (1,400 RB). Exports of 114,300 RB were primarily to Vietnam (24,500 RB), Turkey (19,400 RB), Mexico (18,100 RB), Bangladesh (8,700 RB), and China (8,400 RB). Net American Pima sales of 10,000 RB for 2013/2014 resulted as increases for China (7,900 RB, including 1,600 RB switched from Indonesia), Peru (1,300 RB), Thailand (700 RB, including 200 RB switched from Japan), and Bangladesh (600 RB), were partially offset by decreases for Indonesia (1,600 RB). Exports of 13,800 RB were primarily to China (10,100 RB), Pakistan (1,500 RB), and India (1,300 RB).

 

China’s August import data comes out on Sunday

 

ABARES come out on September 10th with their Australian crop estimate report.

 

Thank you,

 

Kate Rosenberg