FI Morning Grain Comments 12/21/20

PDF attached

 

Morning. 

 

Short
trading week with Christmas Holiday.  USDA will release the export sales report on Wednesday.  We can’t remember if they ever released this report early, but it may be a good idea to keep an eye on US soybean export sales as China could have switched soybean
commitment from SA to the US.  CFTC COT will be delated until Monday. 

 

Today
most of the commodity markets, led by mineral oil, are lower on talk of a mutating Covid strain.  Soybean futures were somewhat spared from higher soybean meal. Global vegetable oil markets are under pressure.  The USD was up by more than 60 points as of 6:00
am CT.  European equities are down sharply.  Brazil received key rains over the weekend bias the southern and central areas.  Argentina saw rain but will trend drier this week.  Corn and wheat are trading lower, following outside markets. 

 

Grain
and oilseed export developments were light over the weekend.  Bangladesh issued another import tender for 50,000 tons of rice.  Black Sea wheat and corn prices were up last week.  China’s AgMin reported the November pig herd crop was up 29.8 percent from a
year ago and the sow herd increased 31.2 percent. 

 

 

Weather

SUNDAY
EVENINIG WEATHER UPDATE

• Argentina
  rainfall was a little lighter than expected in some areas, but not by much
• The
  impact of rain was as expected on Friday morning when World Weather, Inc. warned that the moisture would be welcome, but it would be gone in a few days and the nation would be as dry as it was late last week by the end of this coming week
• That
  forecast for this week has not changed
• Short
  term benefits to the moisture resulted, but much more rain must occur to restore soil moisture to normal and to ensure crop stress does not become more threatening to production a little later this month and in early January
• Argentina
  rainfall from satellite and surface weather observations was widespread Friday into Saturday except in eastern Buenos Aires, the northwest half of Santiago del Estero and Salta where dry conditions prevailed.
  
• Rainfall
  varied from 20 to 0.70 inch most often with local totals of 0.70 to 1.81 inches
  
• One
  location in northern La Pampa near the Cordoba border reached 2.25 inches
• The
  greatest rainfall occurred in southwestern Buenos Aires, east-central San Luis, along the Cordoba/La Pampa border as well as from northwestern Santa Fe to Corrientes and northeastern Entre Rios
• The
  rain was highly varied with some areas getting more rain than others, but as suggested Friday by World Weather, Inc. the precipitation will not be enough to counter evaporation for the coming week and most areas will be as dry by the end of this week as they
  were late last week before the rain fell
• Highest
  afternoon temperatures Friday and Saturday were in the middle and upper 90s to 104 degrees Fahrenheit in northwestern Argentina while in the upper 80s and lower 90s in most other areas
• However,
  late weekend afternoon temperatures were notably cooler with readings in the 60s and 70s in the south and in the 80s to near 90 in the north Sunday
• Argentina
  rainfall will be minimal this week; any showers that evolve will be too light and brief to counter evaporation and those areas missing the greatest rainfall Friday and early Saturday will experience rising stress of significance as the second week of the outlook
  begins unless greater rain evolves
• Any
  rain that occurs through Friday will not be significant varying from a trace to 0.30 inch
  
• Warmer
  temperatures will return making evaporation rates far greater than the rainfall resulting in net drying
• Erratic
  rainfall will occur during the coming weekend through the middle part of next week, but resulting rainfall will not be more than 0.50 inch except in a few random locations in far western parts of Cordoba where some heavy rainfall may occur
  
• Most
  other areas were advertised to be left dry
• The
  early next opportunity for generalized rain will occur Dec. 30-Jan. 2, but confidence is low
• Argentina
  temperatures will be warmer than usual during the next two weeks and that on combination with the limited rainfall will lead to moisture depletion, crop moisture stress and rising worry over 2021 production potentials
• Brazil
  weekend rainfall was erratic, but some of the rain from Argentina moved into the far south late Saturday and Sunday morning and it was advancing to the interior southern areas Sunday afternoon.
  
• Rain
  totals through early afternoon Sunday varied from 1.00 to 2.00 inches in portions of southern Paraguay, southwestern Parana, western Santa Catarina and western and northern Rio Grande do Sul.
  
• Rainfall
  was also significant earlier in the weekend in southern Minas Gerais and northeastern Sao Paulo where 0.15 to 0.40 inch and local totals to 0.88 inch resulted
• Rainfall
  was sporadic and light through Sunday afternoon resulting in net drying from central and southern Sao Paulo and from northern Mato Grosso do Sul and eastern Mato Grosso through portions of Goias to Bahia, Tocantins, Piaui and Pernambuco
• Some
  western Mato Grosso locations reported 0.25 to 1.10 inches of rain with local totals to 1.34 inches late Saturday night and Sunday and similar conditions occurred in and around the Federal district in Goias and northwestern Minas Gerais.
  
• Highest
  temperatures were in the 90s to 102 degrees Fahrenheit except in southeastern Brazil where readings were in the 80s
  
• Lowest
  temperatures were in the 60s and 70s Fahrenheit
• Brazil
  weather over the next two weeks will become more typical of La Nina years meaning rain will fall more frequently from Mato Grosso, Goias and Tocantins to Minas Gerais, Sao Paulo and Parana
• Net
  drying is expected in Rio Grande do Sul and some immediate neighboring areas as well as in eastern and northern Bahia, Pernambuco and a few eastern Piaui locations
• Rainfall
  elsewhere over the next ten days will range from 2.00 to 4.00 inches and local totals of 4.00 to more than 7.00 inches
  
• Minas
  Gerais will be wettest in central through eastern areas as well as in Rio de Janeiro and southern Espirito Santo
  
• Australia
  rainfall during the weekend increased in parts of southeastern Queensland and northeastern New South Wales cotton and sorghum production areas
• Resulting
  rainfall through dawn Sunday varied from 0.10 to 0.50 inch with a few locally greater amounts
• The
  moisture was helpful in easing some dryness, but more rain was needed to make a more definitive improvement in soil and crop conditions
• Australia
  temperatures were quite warm to hot again in Queensland and far northern New South Wales Friday and Saturday with extreme highs of 100 to 113 degrees Fahrenheit
• Coastal
  areas were not nearly as warm with middle 80s to middle 90s noted
• Temperatures
  were more seasonable elsewhere
• Australia
  will receive additional rain today and Monday in northern New South Wales and some locations in southern Queensland before diminishing as it moves eastward Tuesday
• Rainfall
  of 0.10 to 0.50 inch and locally more will occur in central through southeastern Queensland early this week while 0.50 to 1.50 inches and local totals over 2.00 inches will occur in northern New South Wales
  
• Greater
  rain is still possible along the upper New South Wales coast
• Rain
  will also occur in a few southeastern Australia locations this week slowing winter crop maturation and harvesting
  
• The
  remainder of this week into early next week will be dry or mostly dry
• Rain
  may increase in Queensland again in the last days of December and early January
• Temperatures
  will be seasonable with a slight cooler bias early this week and then warming thereafter
• China
  weather during the weekend was limited and it will continue restricted over the coming week
• Areas
  near and south of the Yangtze River will be wettest, but no heavy rain is expected
• Net
  drying is likely elsewhere
• Next
  week’s precipitation will increase in the Yangtze River Basin maintaining moisture abundance in that region while seasonably dry weather prevails elsewhere
• With
  that said it is important to recognize good soil moisture is present in most of eastern China and there is no reason for concern over the moisture situation
• India
  weather was dry during the weekend; temperatures turned cooler with a few pockets of frost and light freezes in Punjab, Uttaranchal, Haryana and northeastern Rajasthan
• None
  of the frost was great enough to seriously threaten winter crops
• Cool
  weather may be back again late this week and again early to mid-week next week
• No
  permanent crop damage is expecte4d from any frost or freezes that take place
• Most
  of the coldest temperatures will be confined to Punjab, Haryana, northeastern Rajasthan, Uttaranchal, Himachal Pradesh and areas farther north
• Precipitation
  will be minimal over the next two weeks, although a few showers will occur between bouts of cool air in the far north
• Resulting
  moisture will be kept light
• Today,
  Monday and again next Saturday and Sunday will be wettest
• GFS
  model suggests greater rain is possible in first days of January, but confidence is very low
• Brief
  periods of rain will impact far southern India infrequently over the coming week
• South
  Africa will experience erratic rainfall and warm temperatures over the next couple of weeks
• Crop
  conditions will vary widely depending on the frequency and significance of daily rainfall
• Some
  areas will need additional moisture to induce the best crop conditions
• Weekend
  weather in South Africa was similar with erratic showers and thunderstorms impacting 25-30% of the nation’s crop areas with rainfall to 0.71 inch occurring most often with local totals of 1.00 to 1.25 inches. One location in south-central Free State reported
  2.25 inches
• Net
  drying occurred in many areas
• Temperatures
  were very warm in Northern Cape with highest reading in the middle and upper 90s to 104 degrees Fahrenheit
• High
  temperatures elsewhere were in the 70s and 80s followed by lows in the 50s and 60s
• Russia
  and Ukraine will experience periodic snow and rain through the next two weeks
• Resulting
  precipitation will be near to above average except in a few Russian Southern region locations where amounts will remain lighter than usual
• The
  moisture will be good for spring crop development with some of the snow to protect crops from any harsh weather that evolves
• However,
  temperatures will be warmer than usual in western Russia, Belarus, the Baltic States, Ukraine and in a few areas in Russia’s Southern region
• Temperatures
  will be a little cooler bias farther east, but no threatening cold is expected in any winter crop region
• Europe
  will experience waves of rain and a little mountain snowfall during the coming week before precipitation becomes more limited to western Europe next week
• Moisture
  totals this week will be greatest from northern France to northern Germany and Denmark where 1.00 to 3.00 inches and local totals to 5.00 inches will be possible. Surrounding areas will receive 0.30 to 1.00 inch with local totals to 1.50 inches
• Southwestern
  Europe will be driest this week
• Next
  week’s weather will be wettest in western and northern parts of Europe, although some light showers will occur in the southeast as well
• Temperatures
  over the next two weeks will be near to above average
• U.S.
  weather over the coming ten days has not changed much from that of last Friday
• Frequent
  weather systems will impact areas east of the Mississippi River; including the eastern Midwest, Delta and Atlantic Coast States
• Moisture
  totals will be greater than usual in the northeastern states
• Most
  of the hard red winter wheat production areas will be left dry or mostly dry during this week and probably in the second week of the outlook as well
• Temperatures
  will be near to above average in the Plains and northeastern states and near to below average in the southeastern and middle Atlantic coast states
• Next
  week temperatures will trend cooler in the western and north-central states
  
• Florida
  citrus areas will be cold late this week with some low temperatures in the 30s Fahrenheit expected Friday and Saturday
  
• Crop
  damage is not likely, but a close watch on the situation is warranted because anticipated temperatures could turn slightly colder as time moves along
  
• U.S.
  precipitation during the weekend was greatest in the Delta and a part of the lower eastern Midwest
• Some
  areas in eastern Texas and Louisiana reported0.70 to 1.40 inches with Lake Charles, La. reporting 2.19 inches
• The
  only other precipitation occurred in the Pacific Northwest with some stormy conditions in coastal areas and heavy snow in the Cascade Mountains
• Some
  moderate snow also occurred in the northern Rocky Mountain region
• Temperatures
  were cold Saturday morning in the northeastern states and cooled near normal in the northern Plains and upper Midwest during the weekend
• No
  threatening cold occurred in key crop areas
• U.S.
  northern Plains moisture is expected to continue limited over the next ten days, although a little boost in moisture is possible near the Canada border during mid-week this week
• U.S.
  west-central and southwestern Plains will fail to get much “meaningful” moisture in the next ten days
• Far
  southwestern U.S. crop areas will remain drier biased over the next two weeks
• U.S.
  Delta and southeastern states will remain plenty moist over the next two weeks especially in the southeastern states
• Southern
  Canada’s Prairies will be wetter biased this week with two waves of significant snow expected in the south
• A
  net boost in snow cover and eventual moisture in the spring will result
• The
  area impacted needs precipitation and winter crops will benefit from the snow cover which has been absent for a while threatening winterkill during periods of bitter cold
• Temperatures
  will be near to above average this week and next week
• Indonesia
  and Malaysia rainfall recently has become a little erratic and a boost in precipitation will eventually be needed
• No
  area is dry enough to pose a threat to short rooted crops, but greater volumes of rain would be welcome
• The
  pattern of erratic rainfall that is a little lighter than usual may prevail through the end of this month
• Weekend
  rain was locally heavy in Peninsular Malaysia where a few locations reported 1.77 to 3.00 inches and one location reported 5.63 inches
• Another
  locations in southwestern Sulawesi reported 6.06 inches
• Rainfall
  in most areas varied from 0.05 to 1.18 inches with a few greater amounts in central Java and northwestern Kalimantan
  
• Southern
  Vietnam, Thailand and Cambodia trended drier over the coming week after recent rain, but some scattered showers and thunderstorms still impacted Vietnam’s Central Highland and southern coastal areas
  
• The
  recent moisture delayed harvest progress for some crops, but no serious crop quality changes were suspected
• Winter
  crops benefitted from the expected moisture
• Tropical
  Cyclone Krovanh formed west of the Philippines and was expected to pass south of the southern Vietnam coast this week
• Despite
  no landfall, some of the storm’s rain will impact the lower half of the Vietnam coast with some heavy rain possible through Wednesday
• Some
  rain from the tropical cyclone will also impact a part of Vietnam’s Central Highlands and Cambodia Wednesday into Thursday
  
• The
  precipitation will end late in the weekend
• Dry
  weather will certainly be needed after this week to support more normal harvest conditions
• Philippines
  heavy rainfall continued during the weekend after beginning Thursday
• Additional
  rainfall of 2.75 to more than 8.00 inches resulted in some flooding
• Some
  damage to low lying crops was suspected, although not yet confirmed
• Less
  rain will evolve this week, but another bout of significant rain may occur late this week and through the weekend resulting in additional heavy rain
• A
  new tropical cyclone may evolve west of Palawan, Philippines next week before passing south of Vietnam later in that same week
• This
  system could bring more rain to southern Vietnam
• North
  Africa will need more rain later this month and In January
• Morocco
  remains in need of significant moisture even though some showers occurred last week
• Weekend
  rainfall was limited to northeastern Algeria and northern Tunisia where moisture totals varied from 0.10 to 0.57 inch and a few areas getting more than 1.00 inch – mostly in Tunisia
  
• Southern
  Oscillation Index was at +12.80 today and it will remain strongly positive for a while even though some weakening is possible
• World
  Weather, Inc. believes the index has peaked or is near its peak and weakening in the next few weeks with signal the beginning of a weakening trend in La Nina that will be most significant in February and March
• Mexico
  precipitation will be quite limited over the coming week which is not unusual for this time of year
• Portions
  of Central America will continue to receive erratic rainfall over the next couple of weeks, but the intensity and frequency will be low enough to support some farming activity
• Costa
  Rica and Caribbean coastal areas of both Nicaragua and Honduras will be wettest this week

·        
West-central Africa will become more normal for this time of year with a few coastal showers

• Recent
  rainfall has been greater than usual especially in Ivory Coast, Ghana, Senegal, southern Benin and coastal Nigeria
• Weekend
  rainfall in Ivory Coast coffee and cocoa areas reached 1.10 inches which was notably greater than usual disrupting harvest progress and raising concern over some off season flowering

·        
East-central Africa rain will be erratic and light in Ethiopia, Kenya and Uganda while rainfall will be greatest over Tanzania this week

·        
New Zealand weather this week will trend greater than last week with some well-timed moisture across the nation

• Temperatures
  will be below average

 

MARKET
WEATHER MENTALITY FOR CORN AND SOYBEANS: Argentina’s erratic weekend rain and expected struggle for meaningful moisture over the next ten days will drive futures market prices higher today. Brazil weather, however, is expected to be favorable for that nation’s
crops as time moves along. Rio Grande do Sul and far northeastern Brazil will be the only areas that struggle for moisture.

           
South Africa weather will be mostly good for summer crops, but there will be some pockets of dryness. Indonesia and Malaysia weather will also continue erratic and light in portions of the nation during the next couple of weeks.

           
China’s winter rapeseed will be dormant and plenty moist this week. Weather in India will be good for most of its winter crops as well as for late summer crop harvest progress.

 

MARKET
WEATHER MENTALITY FOR WHEAT AND OTHER SMALL GRAINS: No further improvement in soil moisture is expected in the U.S. central or southwestern Plains this week or most of next week. Some areas in Montana may get some light precipitation, but it will not change
crop conditions due to their dormant status. Snow cover coming to southern Canada’s Prairies will be extremely helpful in putting snow on the ground and reducing the risk of winterkill.

           
Russia’s Southern Region and Ukraine crops will benefit from periods of snow and rain during the next couple of weeks, although the benefit will not be noted until spring. Any boost in snow cover will help protect winter crops, although there is no risk of
crop damaging cold.

           
Winter crops in Europe, China and India are mostly in favorable condition. Recent weeks of moisture improvement will help many of the winter grains in these areas experience better root and tiller systems in early spring.

           
Morocco still needs significant moisture especially in the southwest. A part of northwestern Algeria and a few far northeastern Morocco areas also need greater precipitation, but not much is coming this week. Some boost in precipitation might also be welcome
in the Middle East.

           
Australia’s late season harvest in the southeast will be disrupted by some precipitation in the coming week, but no serious harm to crop quality is anticipated.

           
Argentina’s limited rain in wheat areas during the weekend should help to expedite plant maturation and harvest progress over the next week to ten days.

           
Overall, weather today will likely have a mixed influence on market mentality.

 

MARKET
WEATHER MENTALITY FOR COTTON:  Cotton in Australia will benefit from rain that has occurred during the weekend and that which is coming early this week. Follow up rain will still be needed, but some improved planting and establishment conditions will result
in the dryland production areas.

           
Cotton in southern India will continue to improve with drier biased weather. Argentina cotton conditions vary greatly with rain needed in the west. Brazil’s cotton in Bahia will benefit from some timely rainfall later this week and next week after trending
drier recently.

South
Africa cotton conditions are rated favorably, but rain is needed in dryland areas Northern Cape, western North West and some neighboring areas. Irrigated fields are in good shape.

U.S.
late season harvesting is nearly complete except in parts of the southeastern states and weather will continue a little too wet at times to get the end of the harvest completed.

Overall,
weather is not likely to have much impact on market mentality today.

Source:
World Weather Inc. and FI

 

Bloomberg
Ag Calendar

Monday,
Dec. 21:

• USDA
  weekly corn, soybean, wheat export inspections, 11am
• Ivory
  Coast cocoa arrivals

Tuesday,
Dec. 22:

• U.S.
  cold storage stocks of poultry, pork, beef; poultry slaughter, 3pm

Wednesday,
Dec. 23:

• China
  customs publishes data on imports of corn, wheat, sugar and cotton
• USDA
  weekly crop net-export sales for corn, soybeans, wheat, cotton, pork, beef, 8:30am
• EIA
  U.S. weekly ethanol inventories, production, 10:30am
• USDA
  hogs and pigs inventory, red meat production, 3pm

Thursday,
Dec. 24:

• Port
  of Rouen data on French grain exports

Friday,
Dec. 25:

• Christmas
  Day
• NOTE:
  Commitments of Traders reports for both ICE Futures Europe and CFTC will be delayed to Monday, Dec. 28
• China
  customs publishes country-wise soybean and pork import data

Source:
Bloomberg and FI

 

 

 

 

CFTC
Commitment of Traders

Traditional
funds were much less long than expected for corn, soybeans, and wheat that what the trade expected. 

 

 

 

 

 

 

SUPPLEMENTAL     
Non-Comm               Indexes                  Comm

                       
Net        Chg        Net        Chg        Net        Chg

Corn              
278,715    -14,526    393,944      4,264   -651,404      6,107

Soybeans          
165,567      3,966    177,237      4,707   -341,977    -13,241

Soyoil             
72,662     10,784    125,059     -4,566   -219,148     -6,804

CBOT
wheat         -18,122     10,371    133,789     -1,496    -98,541     -8,210

KCBT
wheat          31,532      6,625     69,928      1,322   -102,011     -8,273

 

FUTURES
+ OPTS     Managed                 Swaps              Producer

                       
Net        Chg        Net        Chg        Net        Chg

Corn              
250,260    -19,322    247,282      5,511   -623,422      5,251

Soybeans          
190,218      4,562    102,241        161   -337,815    -10,504

Soymeal            
77,207     14,565     68,696     -2,004   -190,538    -11,353

Soyoil             
97,719      8,656     89,511     -1,840   -230,686     -8,316

CBOT
wheat           6,672     12,364     81,226     -2,714    -87,093     -7,174

KCBT
wheat          52,613      7,838     42,528        652    -97,839     -8,441

MGEX
wheat           3,389        851      2,767        578    -12,165     -3,322

                
———- ———- ———- ———- ———- ———-

Total
wheat         62,674     21,053    126,521     -1,484   -197,097    -18,937

Live
cattle         41,269      3,046     68,217        560   -122,606     -3,231

Feeder
cattle        2,522        576      7,644       -246     -4,326        186

Lean
hogs           31,744     -1,841     48,752      1,134    -78,643      3,958

 

 

Macros

 

Corn.

• Corn
  futures are lower on negative global macro sentiment after it was reported a mutated Covid strain (Covid-21) was discovered in the UK.   Global markets, led by mineral oil, are under pressure.  There are already countries halting flights from the UK. 
  
• CBOT
  corn open interest was up 13,825 contracts on Friday. 
• China’s
  AgMin reported the November pig herd crop was up 29.8 percent from a year ago and the sow herd increased 31.2 percent.  Reuters noted pork prices fell to 45.8 yuan ($6.99) per kilogram, the lowest level so far in 2020.
• China
  will offer 103,431 tons of corn from states reserves stored in the northeast region on Tuesday from the 2014 and 2015 harvests. 
  In a separate auction China will offer nearly one million tons out of reserves in Heilongjiang on Tuesday. 
  
• APK-Inform
  reported Ukraine’s grain stocks totaled 23.1 million tons as of Dec. 1, 7.4 million tons less than a year ago.  They include stocks at large and medium ag related locations, not small farms. 
  
• USDA
  cattle on feed reports was as expected for December 1 on feed inventories. 
  

 

 

 

Corn
Export Developments

• None
  reported

 

Soybean
complex.  

• We
  are seeing a lower start to soybeans and soybean oil today, but restricted rain projected for Argentina will likely limit losses.  Soybean meal is higher from ongoing Argentina strike problems.  Also, the Chinese pig market continues to improve.  Argentina
  saw beneficial rain across most areas over the weekend except for eastern BA, northwest half of Santiago del Estero and Salta.  Warm temperatures this week will likely accelerate net drying.  Southern and central Brazil is in good shape after seeing rain over
  the weekend. 
• The
  premium of Gulf fob soybean oil to RBD palm oil at the begging of last week widened out from $46/ton to $90/ton by the end of last week.
  
• Russia
  plans to introduce an export duty on soybean exports effective February 1. The duty of 30%, but not less than 165 euros ($202) per ton, was introduced over the weekend.  Russia does not export many soybeans but countries bordering the country will be impacted,
  like China. 
• APK-Inform: 
  Ukraine sunflower oil export prices increased $60-$65/ton to $1,170 to $1,185 per ton fob last week.  2020 sunseed production was 13.1 million tons, down from 15.3 million in 2019, according to government data that may not account for all on farm storage. 
  
• Offshore
  values this morning were leading CBOT soybean oil 41 points lower and meal $1.10 lower.  
  
• Rotterdam
  soybean oil values were about up 1-3 euros, rapeseed oil 11 lower, and Rotterdam meal 4-10 euros higher from this time previous session. 
  
• ITS: 
  Malaysian palm exports for the Dec 1-15 period totaled 1.068 million tons, up 18.9 percent from month earlier. 
  
• AmSpec: 
  Malaysian palm exports for the Dec 1-15 period totaled 1.074 million tons, up 18.2 percent from month earlier. 
  
• Malaysian
  palm oil:  Lower tracking sinking Brent Crude oil. 
  

• China
  cash crush margins were 109 cents on our calculation, compared to 123 last week and 131 year ago.
  

 

Oilseeds
Export Developments

• None
  reported

 

Wheat

• Wheat
  is lower following weakness in outside related commodity markets and sharply higher USD.  
  
• EU
  March milling wheat was down 1.00 at 207.50 euros.
• China
  sold 593,161 tons of wheat from reserves, or 15 percent of what was offered.  The average selling price was 2,342 yuan ($357.54) per ton.
• IKAR
  estimated Russia 2020-21 wheat exports at 37.5 million tons, down from 40 million previous.  
  
• Ukraine’s
  econ ministry lowered their grain export forecast to 44.175 million tons from 44.823 million previous.  They took corn exports down to 22.255 million tons from 22.982 million previous.  They look for monthly wheat exports to total around 900,000 to 1,000,000
  million tons each month between Jan and May, less for Feb (650k).   
• APK-Inform
  reported Ukraine corn and 12.5% protein wheat export prices rose last week.  Wheat was up $4/ton to $255-$259/ton. Ukrainian corn was up $3 to $228-$232 fob.
  
• IKAR
  reported Russian wheat export prices rose last week by $5/ton to around $257/ton for 12.5% protein content. 
  
• Germany’s
  winter wheat area was projected 2.7 percent higher at 2.83 million hectares by the national statistics office.  German winter rapeseed 2021 plantings expanded by 2.6% to around 978,000 hectares.

 

Agriculture
and Agri-Food Canada

 

Export
Developments.

• Jordan
  seeks 120,000 tons of animal feed barley on Dec. 22 for shipment during the April 1-15, April 16-30, May 1-15 and May 16-31 periods. 
  
• Jordan
  seeks 120,000 tons of wheat on December 23 for Jun-Jul shipment. 

 

Rice/Other

• 12/21. 
  Bangladesh seeks another 50,000 tons of rice on Dec. 30. 
• Bangladesh
  seeks 50,000 tons of rice on Dec. 22.  They bought a combined 100,000 tons on Dec. 2 and Nov 26, the country’s first rice purchase in about three years.  Bangladesh plans to import 300,000 tons of rice.
• Egypt
  said they have enough sugar in strategic reserves until August. 
• Iraq bought 166,000 tons of local rice.