Additional News From The Grain Floor

USDA announced 120,000 US new crop beans sold to China

 

Opening calls

  • Beans 10-15 higher
  • Corn 2-4 lower
  • Wheat 3-5 lower
  • KC wheat 2-4 lower
  • Minneapolis wheat
  • Meal 6-7 higher
  • Bean oil 5-15 lower
  • Rice 1-3 higher

 

Weekly US jobless claims report came out this morning at  +5K to 320K as expected

 

India’s PEC tenders to sell 65,000 tons of wheat for April shipment

 

Weekly US export sales report came out this morning at 730 am CST . Expecting

  • Wheat ‘13/14 401,800   ‘14/15 195,200   (expecting old crop 250,000-500,000 , new crop 50,000-200,000, combined 300,000- 700,000 tons )
  • Corn ‘13/14 745,800      ‘14/15  0  (expecting old crop 400,000 – 700,000 tons, new crop 100,000-350,000 tons, combined 500,000 – 1.5 M tons )
  • Beans ‘13/14 202,200 ‘14/15 437,500 (expecting old crop negative 100,000 to positive 300,000, new crop  300,000-600,000 tons , combined 200,000 – 900,000 tons)
  • Meal ‘13/14 242,900 ‘14/15 244,000 (expecting old crop 100,000-200,000 tons, new crop 30,000 – 100,000 tons, combined 130,000 – 300,000 tons)
  • Bean oil ‘13/14 2,000 ‘14/15 0 (expecting old crop 0-50,000 tons, new crop 0-50,000 tons, combined 0-100,000 tons )

 

Export highlights

  • Wheat – Net sales of 401,800 MT for delivery during the 2013/2014 marketing year were down 16 percent from the previous week and 12 percent from the prior 4-week average. Increases were reported for Nigeria (76,700 MT), Jamaica (60,000 MT), Ecuador (44,900 MT, including 32,800 MT switched from unknown destinations), Japan (44,400 MT), the Philippines (43,300 MT), unknown destinations (29,100 MT), and Brazil (27,500 MT, including 25,000 MT switched from unknown destinations). Decreases were reported for Malaysia (10,000 MT), Trinidad (3,300 MT), and the Leeward Windward Islands (2,600 MT). Net sales of 195,200 MT for 2014/2015 were reported primarily for unknown destinations (45,000 MT), South Korea (43,100 MT), the Philippines (40,000 MT), and Japan (29,100 MT). Exports of 440,000 MT were down 3 percent from the previous week and 8 percent from the prior 4-week average. The primary destinations were South Korea (114,700 MT), Japan (67,100 MT), Nigeria (64,200 MT), Ecuador (34,900 MT), the Philippines (31,200 MT), and Brazil (27,500 MT).
  • Corn – Net sales of 745,800 MT for 2013/2014 were up 9 percent from the previous week, but down 20 percent from the prior 4-week average. Increases were reported for Colombia (181,600 MT, including 132,800 MT switched from unknown destinations and decreases of 14,400 MT), Japan (112,900 MT, including 35,200 MT switched from unknown destinations and decreases of 15,200 MT), South Korea (110,700 MT, including 54,000 MT switched from unknown destinations and decreases of 9,200 MT), China (69,500 MT), Egypt (68,000 MT), and Mexico (44,500 MT). Decreases were reported for unknown destinations (25,500 MT), Guatemala (8,100 MT), Morocco (4,000 MT), and El Salvador (1,100 MT). Exports of 927,100 MT were up 2 percent from the previous week and from the prior 4-week average. The primary destinations were Colombia (219,200 MT), Japan (185,600 MT), Mexico (147,400 MT), South Korea (117,900 MT), Saudi Arabia (92,200 MT), and Peru (33,000 MT).
  • Beans – Net sales of 202,200 MT for 2013/2014 were up noticeably from the previous week, but down 31 percent from the prior 4-week average. Increases reported for Indonesia (149,000 MT, including 25,000 MT switched from unknown destinations and decreases of 26,200 MT), Portugal (67,100 MT, including 65,000 MT switched from unknown destinations), Egypt (49,600 MT), Mexico (35,200 MT), and Colombia (18,300 MT, including 8,000 MT switched from unknown destinations), were partially offset by decreases for unknown destinations (79,800 MT) and China (75,900 MT). Net sales of 437,500 MT for 2014/2015 were reported primarily for China (243,000 MT), unknown destinations (146,500 MT), and Indonesia (30,000 MT). Exports of 1,119,100 MT were up 38 percent from the previous week, but down 11 percent from the prior 4-week average. The primary destinations were China (662,800 MT), Mexico (102,300 MT), Indonesia (94,000 MT), Taiwan (83,600 MT), and Portugal (67,100 MT).
  • Meal – Net sales of 242,900 MT for 2013/2014 were up 52 percent from the previous week and 32 percent from the prior 4-week average. Increases were reported for Thailand (45,000 MT, switched from unknown destinations), Venezuela (44,000 MT, including 25,000 MT switched from Panama and 2,000 MT switched from unknown destinations), Mexico (36,700 MT), Japan (23,000 MT, including 20,100 MT switched from unknown destinations), and Cuba (22,000 MT). Decreases were reported for Panama (17,300 MT), unknown destinations (5,600 MT), and South Korea (800 MT). Net sales of 244,000 MT for 2014/2015 were reported for unknown destinations (195,000 MT), Indonesia (29,000 MT), and Ireland (20,000 MT). Exports of 240,700 MT were down 5 percent from the previous week and 14 percent from the prior 4-week average. The primary destinations were the Philippines (50,700 MT), Venezuela (29,000 MT), Mexico (27,300 MT), Cuba (22,000 MT), Japan (22,000 MT), and Canada (17,600 MT).
  • Bean oil – Net sales of 2,000 MT for 2013/2014 were down 71 percent from the previous week and 78 percent from the prior 4-week average. Increases were reported for Mexico (1,200 MT), Nicaragua (1,000 MT), Costa Rica (1,000 MT, switched from unknown destinations), and Australia (100 MT). Decreases were reported for Canada (800 MT) and unknown destinations (800 MT). Exports of 7,700 MT were up noticeably from the previous week, but down 72 percent from the prior 4-week average. The primary destinations were Mexico (2,700 MT), El Salvador (2,000 MT), Nicaragua (1,000 MT), Costa Rica (1,000 MT), and Canada (700 MT).