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Agriculture Online
GRAINS-Soybeans, corn, wheat set for weekly gains on strong demand
SINGAPORE, Jan 27 (Reuters) - Chicago soybean and corn futures firmed on Friday, while wheat ticked lower, but all three were poised for weekly gains as strong global demand for agricultural products supported prices. Strong export sales and positive influence from outside market helped support agricultural prices, commodities research firm...
Agriculture Online
TABLE-Russia sets grain export taxes for Feb 1-7
MOSCOW, Jan 27 (Reuters) - Russia's agriculture ministry has set out its grain export taxes for Feb 1-7 as follows: Wheat Barley Maize (Corn) Feb 1-7 - tax, roubles/tonne 4,365.3 3,174.3 1,186.2 - indicative price, $/tonne 308.8 267.7 226.4 Jan 25-31 - tax, roubles/tonne 4,283.2 3,083.7 886.5 - indicative price, $/tonne 309.5 267.9 221.9 Jan 18-24 - tax, roubles/tonne 4,719.4 3,977.6 1,174.6 - indicative price, $/tonne 309.5 278.4 221.4 Jan 11-17 - tax, roubles/tonne 4,766.3 3,870.6 1,289.4 - indicative price, $/tonne 311.1 276.8 224.2 Dec 28-Jan 10 - tax, roubles/tonne 4,160.9 3,420.4 692.6 - indicative price, $/tonne 312.8 280.2 222.0 Dec 21-27 - tax, roubles/tonne 3,333.8 2,686.9 0.0 - indicative price, $/tonne 314.4 281.8 218.5 Dec 14-20 - tax, roubles/tonne 3,143.4 2,603.1 78.2 - indicative price, $/tonne 313.4 282.9 224.9 Dec 7-Dec 13 - tax, roubles/tonne 2,806.8 2,315.0 0.0 - indicative price, $/tonne 313.1 283.0 215.4 Nov 30-Dec 6 - tax, roubles/tonne 2,788.0 2,308.6 0.0 - indicative price, $/tonne 313.6 283.7 222.1 Nov. 23-29 - tax, roubles/tonne 2,735.2 2,430.0 193.8 - indicative price, $/tonne 312.5 286.7 233.9 Nov 16-22 - tax, roubles/tonne 2,922.1 2,686.7 447.5 - indicative price, $/tonne 312.3 288.5 236.4 Russia's agriculture ministry determines the size of the duty on a weekly basis, using price indicators reported by traders. (Reporting by Moscow Bureau)
Agriculture Online
U.S. wheat futures firm on concerns about escalations in Ukraine/Russia fight
CHICAGO, Jan 25 (Reuters) - U.S. wheat futures rose on Wednesday, with prospects for escalations in the war between Ukraine and Russia, two key grain exporters, supporting prices. * Hopes for a pick-up in export demand for U.S. suppalies due to rising global prices added support. * The United States said on Wednesday it would supply Ukraine with 31 of its most advanced battle tanks after Germany broke a taboo with a similar announcement, moves hailed by Kyiv as a potential turning point in its battle to repel Russia's invasion. * India will provide 3 million tonnes of wheat to bulk buyers such as flour millers, as part of efforts to bring down prices, which jumped to a record high on Wednesday, a government official told Reuters. * Analysts were expecting a U.S. Agriculture Department report on Thursday morning to show that weekly export sales of wheat were in a range between 150,000 and 575,000 tonnes. A week earlier, wheat export sales totaled 508,124 tonnes. * The benchmark Chicago Board of Trade March soft red winter wheat contract settled up 6-3/4 cents at $7.41-1/4 a bushel. * CBOT March soft red winter wheat broke through technical resistance at its 10-day moving average. * K.C. hard red winter wheat March futures gained 9-1/4 cents to $8.43 a bushel and MGEX spring wheat for March delivery rose 4 cents to $9.07 a bushel. (Reporting by Mark Weinraub; Editing by Sandra Maler)
Agriculture Online
GRAINS-U.S. soy futures weak, corn firm, wheat mixed ahead of weekend
CHICAGO, Jan 27 (Reuters) - U.S. soybean futures fell on Friday on expectations that recent rains in Argentina boosted crop potential from that key South American exporter, traders said. Wheat futures were mixed, with the most-active Chicago Board of Trade soft red winter wheat contract sagging on position squaring after...
Agriculture Online
GRAINS-U.S. wheat futures rise; soy, corn firm but gains capped by Argentine rains
CHICAGO, Jan 25 (Reuters) - U.S. wheat futures rose on Wednesday, with soaring prices for supplies in India boosting prospects for increased demand for U.S. exports. "The country has not been historically known as a major exporter, but they did ship out a record eight-plus million tonnes in the 2021/22 marketing year before shutting down exports in May and now running into supply issues," Matt Zeller, director of market information at brokerage StoneX, said in a note to clients about India.
Agriculture Online
GRAINS-U.S. wheat futures rise on Ukraine war concerns; corn sags
CHICAGO, Jan 25 (Reuters) - U.S. wheat futures rose on Wednesday on concerns that any intensification of Russia's war on Ukraine could clog the export pipeline from those two major exporters. "I think the market is trying to price in an increasing likelihood that an escalation ... turns into a...
Agriculture Online
TABLE-South Africa's latest grain estimates
Jan 26 (Reuters) - South Africa's Crop Estimates Committee released its latest crop estimates on Thursday. Below is a breakdown of the data. SUMMER CROPS - PRELIMINARY AREA PLANTED ESTIMATE 2023 SEASON FIRST ESTIMATE PREVIOUS 2023 ESTIMATE 2022 White maize Area 1,476,000 ha 1,575,700 ha Production --- 7,789,750 T Yellow maize Area 1,068,000 ha 1,048,000 ha Production --- 7,597,450 T Total maize Area 2,544,000 ha 2,623,000 ha Production --- 15,387,200 T Sunflower seed Area 568,550 ha 670,700 ha Production --- 845,550 T Soya Beans Area 1,099,500 ha 925,300 ha Production --- 2,201,000 T Ground Nuts Area 31,200 ha 43,400 ha Production --- 49,000 T Sorghum Area 34,000 ha 37,200 ha Production --- 103,140 T Dry Beans Area 34,500 ha 42,900 ha Production --- 52,590 T WINTER CROPS - 2022 SEASON SIXTH PRODUCTION ESTIMATE LATEST PREVIOUS 2021 ESTIMATES 2022 ESTIMATE 2022 Wheat Area 566,800 ha 566,800 ha 523,500 ha Production 2,176,540 T 2,248,795 T 2,285,000 T Barley Area 101,000 ha 101,000 ha 94,730 ha Production 337,650 T 356,850 T 334,000 T Canola Area 123,510 ha 123,510 ha 100,000 ha Production 210,530 T 210,530 T 198,100 T Oats Area 27,000 ha 27,000 ha 36,250 ha Production 37,700 T 37,700 T 59,000 T Sweet Lupine Area 21,000 ha 21,000 ha 22,000 ha Production 15,750 T 15,750 T 28,600 T (Reporting by Nelson Banya)
Agriculture Online
CBOT wheat firm on strong overseas demand, war concerns
CHICAGO, Jan 26 (Reuters) - U.S. wheat futures rose on Thursday, supported by signs of rising overseas demand and concerns about crop shortfalls in war-torn Ukraine and Russia, key suppliers on the export market. * K.C. hard red winter wheat futures, which the track the high-protein crop grown in the U.S. Plains, notched the biggest gains, rising 2.4%. * Ukraine's wheat production is set to fall as farmers reduce planting due to the war, with the Ukraine Grain Association projecting that the 2023 crop will not exceed 16 million tonnes. * The U.S. Department of Agriculture said on Thursday the agency sees Russia's official wheat crop estimate as "not feasible." * South Korea's animal feed maker Nonghyup Feed Inc purchased around 11,000 tonnes of animal feed wheat expected to be sourced from the United States in a private deal. * The USDA said on Thursday morning that weekly export sales of wheat totaled 561,400 tonnes, near the high end of analysts' forecasts that ranged from 150,000 to 575,000 tonnes and up from 508,124 tonnes a week earlier. * The benchmark Chicago Board of Trade March soft red winter wheat contract settled up 11-1/4 cents at $7.52-1/2 a bushel. * MGEX spring wheat futures for March delivery gained 6-3/4 cents to $9.16-1/4 a bushel and K.C. March hard red winter wheat futures were 20 cents higher at $8.63-1/4 a bushel. (Reporting by Mark Weinraubd; editing by Jonathan Oatis)
Agriculture Online
CBOT Trends-Wheat seen down 4-7 cents, corn down 1-3 cents, soy down 3-6 cents
CHICAGO, Jan 27 (Reuters) - Following are U.S. trade expectations for the resumption of grain and soy complex trading at the Chicago Board of Trade (CBOT) at 8:30 a.m. CST (1430 GMT) on Friday. WHEAT - Down 4 to 7 cents a bushel. * Wheat futures pulled back overnight in...
Agriculture Online
GRAINS-Soybeans rise for 2nd session on bargain-buying, wheat down
SINGAPORE, Jan 26 (Reuters) - Chicago soybean futures gained more ground on Thursday, helped by bargain-buying, although the advance was limited by rains across Argentina's farm belt which boosted crop prospects. Wheat prices were marginally down after Wednesday's rally on concerns over Black Sea supplies amid the Russia-Ukraine war. FUNDAMENTALS.
Agriculture Online
GRAINS-U.S. soy, wheat, corn futures rise on strong export report
CHICAGO, Jan 26 (Reuters) - U.S. wheat, corn and soybeans jumped on Thursday on support from a government report that showed strong overseas demand for all three commodities, traders said. "We had some decent export sales compared to what we have seen the last few weeks and that trend, particularly...
Agriculture Online
LIVESTOCK-Hog futures drop on plentiful supplies, live cattle steady to weak
CHICAGO, Jan 27 (Reuters) - U.S. hog futures eased on Friday, with ample supplies weighing on prices due to a heavy pace of slaughter this year. Live cattle futures were steady to weak in range-bound trade, with light activity in the cash market hanging over prices. February lean hog futures...
Agriculture Online
Cristal Union ups sugar beet target price after French pesticide move
PARIS, Jan 27 (Reuters) - France's second-largest sugar maker, Cristal Union, said on Friday it was raising the target price that it will pay for sugar beets in 2023 after France dropped plans allowing growers to use a pesticide banned over risks to bees. The cooperative, which has 9,000 members,...
Agriculture Online
CBOT soybeans hit one-week high on strong export demand
CHICAGO, Jan 26 (Reuters) - Chicago Board of Trade soybean futures rose 1.4% to a one-week high on Thursday on a strong export report from the U.S. government. * Soymeal and soyoil futures also were strong, with soyoil rebounding from a six-week low it hit on Wednesday. * The U.S. Agriculture Department said on Thursday morning that export sales of soybeans totaled 1.275 million tonnes in the week ended Jan. 19, topping market forecasts that ranged from 600,000 to 1.26 million tonnes. * Soymeal export sales totaled 333,900 tonnes and soyoil export sales totaled 2,300 tonnes. Both were in line with market expectations. * Separately, the USDA said private exporters reported the sale of 106,000 tonnes of soybeans to China for delivery in the 2023/24 marketing year. * The benchmark CBOT March soybean futures contract settled up 21 cents at $15.23-1/2 a bushel, rising above its 10-day moving average. * CBOT March soymeal futures were $11.60 higher at $477.10 a ton and CBOT March soyoil gained 0.25 cent to 60.79 cents per lb. (Reporting by Mark Weinraub; editing by Jonathan Oatis)
Agriculture Online
UPDATE 1-Fertilizer producer Mosaic says stockpiles too high to restart Canadian mine
WINNIPEG, Manitoba, Jan 25 (Reuters) - Fertilizer producer Mosaic Co does not currently see the right market conditions to restart its idled Canadian potash mine, with high inventories in the key markets of the United States and Brazil and cold weather slowing train movement of the crop nutrient from Canada, Chief Executive Joc O’Rourke said on Wednesday.
Agriculture Online
Argentina soy sales lag previous year at 80.6% of harvest
BUENOS AIRES, Jan 25 (Reuters) - Soybean sales from Argentina's 2021/2022 harvest covered 80.6% of the 44 million tonne harvest as of last week, below the 82.6% sold from the previous season at the same time, data from its agricultural ministry showed Wednesday. Between Jan. 12-18, producers sold 42,000 tonnes...
Agriculture Online
CBOT soybeans snap five-session losing streak on short-covering
CHICAGO, Jan 25 (Reuters) - U.S. soybean futures rose on Wednesday on a round of short-covering after prices hit their lowest since Jan. 10. * The most-active Chicago Board of Trade soybean contract , which had fallen during the previous five sessions, closed near its daily high. * Private exporters reported the sale of 130,000 tonnes of soybeans for delivery to unknown destinations in the 2022/23 marketing year, the U.S. Agriculture Department said. * Analysts were expecting a USDA report on Thursday morning to show that soybean export sales were in a range between 600,000 and 1.26 million tonnes in the week ended Jan. 19. A week earlier, soybean export sales totaled 986,196 tonnes. * The benchmark Chicago Board of Trade March soybean futures contract settled up 14 cents at $15.02-1/2 a bushel after falling below its 40-day moving average for the first time since Jan. 5 overnight. * Technical support was noted at the contract's 50-day moving average, a level it has not dipped below since Nov. 21. * CBOT March soyoil dropped 0.44 cent to settle at 60.54 cents per lb. March soyoil fell to its lowest since Dec. 12 early in the session. * CBOT March soymeal futures closed up $5.70 at $465.50 a ton. (Reporting by Mark Weinraub; Editing by Sandra Maler)
Agriculture Online
CBOT soybeans fall on selling by investment funds
CHICAGO, Jan 27 (Reuters) - Chicago Board of Trade soybean futures fell on Friday on a round of fund selling ahead of the weekend as prospects for harvest in Argentina improved. * Weakness in the crude oil market added pressure to soy futures. * Recent rains have brought badly needed relief to much of Argentina's parched agricultural land, the Buenos Aires Grains exchange said. * The benchmark CBOT March soybean futures contract settled down 14 cents at $15.09-1/2 a bushel. * The contract fell below a key technical support line at its 10-day moving average. * CBOT March soymeal futures were down $3.60 at $473.50 a ton and CBOT March soyoil lost 0.17 cent to 60.62 cents per lb. * For the week, soybean futures gained 0.2% and soymeal futures were up 2.1%. * Soyoil futures were down 2.2% this week, their fifth straight weekly loss. (Reporting by Mark Weinraub; Editing by Diane Craft)
Agriculture Online
USDA attache sees Australia 2022/23 wheat crop at 37 million T
Jan 26 (Reuters) - Following are selected highlights from a report issued by the U.S. Department of Agriculture's (USDA) Foreign Agricultural Service (FAS) post in Canberra:. "Australia is set for a third consecutive record grain crop, and strong exports. Wheat production is estimated to have reached a record 37 million metric tons (MMT) in marketing year (MY) 2022/23, while barley is estimated to achieve 13.5 MMT of production, the fourth largest on record. The wheat and barley results were strongly supported by near ideal conditions in Western Australia and South Australia, but this was partially offset by excessive rains in much of the grain-growing regions of New South Wales and Victoria in September and October 2022. Wheat exports in MY 2022/23 are forecast to reach a record 28 MMT. For the summer crops, sorghum production in MY 2022/23 is estimated to achieve 2.9 MMT and, if realized, would be the third largest on record. The rice production forecast has been severely impacted by excessive rains in the lead up to planting, resulting in only around half of the area planted from what was previously expected."
Agriculture Online
German plans to end crop-based biofuels would hit farmers, cut rapeseed output
HAMBURG, Jan 25 (Reuters) - Any German government plans to stop crop-based biofuel production would severely hit farmers and cut rapeseed output, Thomas Mielke, CEO of Hamburg-based oilseeds analysts Oil World said on Wednesday. Smaller crushings of oilseeds in Germany would lead to a widening of the domestic protein deficit...
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