News From The Grain Floor 01/08/15

Good morning.

USDA announced 118,000 tons of beans sold to China for ‘14/15 shipment

 

Egypt GASC is in for wheat for February shipment

 

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

  • Wheat ‘14/15 151,000 tons and ‘15/16 75,300 tons , expecting 200 -400,000 tons
  • Corn ‘14/15 387,600 tons and ‘15/16 210,000 tons, expecting 600 -800,000 tons
  • Beans ‘14/15 910,600 tons ‘15/16 300 tons, expecting 500 -700,000 tons
  • Meal ‘14/15 37,300 tons ‘15/16 -100 tons, expecting 50-200,000 tons
  • Bean oil ‘14/15 30,200 tons , expecting 5-20,000 tons

 

Export highlights

  • Wheat = Net sales of 151,000 metric tons for delivery in the 2014/2015 marketing year–a marketing-year low–were down 57 percent from the previous week and 61 percent from the prior 4-week average. Increases were reported for the Philippines (201,400 MT, including 193,000 MT switched from unknown destinations and 1,800 MT switched from Thailand and decreases of 4,700 MT), Iraq (50,000 MT), Japan (28,300 MT), Mexico (13,400 MT), and Honduras (7,800 MT). Decreases were reported for unknown destinations (116,800 MT), Nigeria (39,800 MT), and Thailand (1,800 MT). Net sales of 75,300 MT for 2015/2016 were for Nigeria (40,000 MT), the United Arab Emirates (25,000 MT), South Korea (14,000 MT), and Colombia (4,500 MT). Decreases were reported for unknown destinations (8,200 MT). Exports of 456,000 MT were up noticeably from the previous week and 43 percent from the prior 4-week average. The primary destinations were the Philippines (201,400 MT), Nigeria (87,200 MT), Taiwan (42,400 MT), Mexico (39,100 MT), and Japan (30,800 MT).
  • Corn = Net sales of 387,600 MT for 2014/2015–a marketing-year low–were down 57 percent from the previous week and 63 percent from the prior 4-week average. Increases were reported for Mexico (251,300 MT), Colombia (63,400 MT), Japan (50,100 MT, switched from unknown destinations), Honduras (37,500 MT, including 17,800 MT switched from unknown destinations), Peru (27,400 MT, including 30,000 MT switched from unknown destinations and decreases of 3,000 MT), and El Salvador (22,000 MT). Decreases were reported for unknown destinations (101,800 MT). Net sales of 210,000 MT for 2015/2016 were for Japan. Exports of 510,400 MT were down 24 percent from the previous week and 28 percent from the prior 4-week average. The primary destinations were Colombia (118,900 MT), Japan (107,900 MT), Mexico (98,400 MT), Peru (90,400 MT), Taiwan (32,900 MT), and New Zealand (19,600 MT).
  • Beans = Net sales of 910,600 MT for 2014/2015 were up 49 percent from the previous week and 39 percent from the prior 4-week average. Increases were primarily for China (550,100 MT, including 120,000 MT switched from unknown destinations and decreases of 138,500 MT), the Netherlands (134,400 MT, including 70,000 MT switched from unknown destinations and 60,000 MT switched from China and decreases of 1,700 MT), Mexico (82,000 MT), Egypt (67,700 MT), Germany (67,000 MT), and Morocco (15,000 MT). Decreases were reported for unknown destinations (39,300 MT) and Taiwan (1,000 MT). Exports of 1,690,300 MT were up 59 percent from the previous week, but down 12 percent from the prior 4-week average. The primary destinations were China (1,001,600 MT), the Netherlands (134,400 MT), Mexico (110,300 MT), Taiwan (100,200 MT), Egypt (67,700 MT), and Germany (67,000 MT).
  • Meal = Net sales of 37,300 MT for 2014/2015 were down 76 percent from the previous week and 75 percent from the prior 4-week average. Increases were reported for Spain (40,000 MT, switched from unknown destinations), Mexico (19,500 MT), Honduras (15,700 MT, including 7,400 MT switched from unknown destinations and decreases of 400 MT), Canada (10,900 MT), Colombia (5,900 MT), and Nicaragua (4,400 MT). Decreases were reported for unknown destinations (67,900 MT) and Trinidad (300 MT). Net sales reductions of 100 MT for 2015/2016 were for Canada. Exports of 216,200 MT were up 16 percent from the previous week, but down 17 percent from the prior 4-week average. The primary destinations were Thailand (61,200 MT), Spain (40,000 MT), the Philippines (33,600 MT), Mexico (33,300 MT), Canada (13,200 MT), and Israel (8,300 MT).
  • Bean oil = Net sales of 30,200 MT for 2014/2015 were up 22 percent from the previous week and 47 percent from the prior 4-week average. Increases were reported for South Korea (11,000 MT), the Dominican Republic (9,500 MT), Peru (8,900 MT), and Mexico (600 MT). Exports of 13,700 MT were down 53 percent from the previous week and 52 percent from the prior 4-week average. The primary destinations were South Korea (11,000 MT), Mexico (2,200 MT), New Guinea (300 MT), and Canada (100 MT).

 

Yearly fund rebalancing begins today and runs for five days. Hearing

  • Corn going to  sell 18,500 – 25,000 over the five days
  • Beans going to buy 4,000 over the five days
  • Bean oil going to sell 1,131 over the five days
  • Wheat going to sell 10,400 over the five days
  • Soymeal going to buy 1,131 over the five days
  • KC wheat going to sell 2,741 over the five days

 

Data sources: DowJones , Bloomberg, Reuters , DTN news, barchart.com and CME Group, NYSE