By ADM Investor Services Research Team
Overnight trade has SRW up roughly 5 cents, HRW up 3, HRS Wheat up 2, Corn is up 1 cent, Soybeans up 2, Soymeal down $0.50, and Soyoil up 40 points.
For the week, Winter Wheat prices are up roughly 10 cents for Soft Red Winter, up 12 in the Hard Red Winter, and up 13 for Hard Red Spring; Corn is up 2 cents; Soybeans up 10 cents; Soymeal up $1.00, and; Soyoil up 95 points; crushing margins are at $1.05—March, oil-share is at 36%.
Chinese Ag futures (May) settled up 9 yuan in Soybeans, up 5 in Corn, up 3 in Soymeal, up 110 in Soyoil, and up 164 in Palm Oil.
The Malaysian Palm Oil market was up 67 ringgit at 3,072 (basis March) to a near 3 year high on production, consumption flows.
Wheat futures are higher on hope that if there is a US and China deal China might buy US wheat. China wheat import quota could be 9 mmt. They take 2.7 mmt annually, mostly from Canada. Some feel the deal could include 5 mmt US wheat. Soyoil contuse to rally and follow higher palmoil prices. Corn and soybean futures are followers on hope a US China deal will bring in new China buying. Trade also is hoping for good weekly US export sales today.
The South American weather forecast for Brazil still calls for moderate rainfall through much of the region over the 6 to 10 period.
The Argentine weather forecast has rainfall finishing by Tuesday than turning drier over the next 6 to 10 day period.
The player sheet had funds net buyers of 5,000 contracts of SRW Wheat; net bought 1,000 Corn; were net buyers of 3,000 Soybeans; sold 3,000 lots of Soymeal, and; net bought 4,000 Soyoil.
We estimate Managed Money net long 17,000 contracts of SRW Wheat; net short 98,000 Corn; net short 70,000 contracts of Soybeans; net short 31,000 lots of Soymeal, and; net long 101,000 Soyoil.
Preliminary Open Interest saw SRW Wheat futures unchanged; HRW Wheat down 950; Corn up 3,000; Soybeans down 6,800 contracts; Soymeal down 1,600 lots, and; Soyoil down 215.
Registrations total ZERO contracts for SRW Wheat; ZERO Oats; Corn 197; Soybeans 1,194; Soyoil 2,613 lots; Soymeal 1,410; Rice 477; HRW Wheat 10, and; HRS Wheat 788 contracts.
TODAY—-WEEKLY EXPORT SALES—LAST TRADING DAY JAN OPTIONS—
In tender activity—Jordan seeks 120,000t optional-origin wheat—Taiwan bought 65,000t Argentine corn—
Trade estimates for USDA weekly grain, soy export sales – Reuters News
Trade estimates for 2019-20 Trade estimates for 2020-21
Wheat 200,000-900,000 0
Corn 500,000-1,200,000 0-100,000
Soybeans 700,000-1,500,000 0-50,000
Soymeal 100,000-300,000 0
Soyoil 5,000-30,000 0
Fifteen leading hog producers signed deals with 16 city-level governments Thursday to develop the swine industry there as part of the country’s efforts to stabilize pork supply, the Ministry of Agriculture and Rural Affairs said
—The combined investment totals nearly 50 billion yuan (about 7.16 billion U.S. dollars)
—The move is expected to increase the country’s pig herd by 22 million annually and provide jobs for 33,000 local rural households
—China’s electrifying idea to stop African swine fever: a high-voltage pigsty
• Researchers to wire up pens for 2,000 pigs and generate an electric field they believe can kill germs
• A farm in central China that previously conducted the experiment reported no cases of swine fever
Ukraine’s area sown for the 2020 winter grain harvest rose by 0.2 percent to 7.6 million hectares, the data of Ukrainian state statistics service showed
UKRAINE 2020 WINTER GRAIN SOWING AREA
commodity (hectares) 2020 2020 vs 2019 (%)
winter wheat 6,408,500 -0.6
winter barley 1,046,800 +3.9
total grain 7,600,900 +0.2
winter rapeseed 1,296,200 +0.3
EURONEXT MARCH WHEAT RISES TO NEAR 6-MONTH HIGH OF 188.50 EUR/T IN OPENING TRADE, TRACKING CHICAGO GAINS AFTER HOLIDAY CLOSURE
EURONEXT FEBRUARY RAPESEED RISES TO NEW CONTRACT HIGH OF 412.50 EUR/T, HIGHEST SPOT PRICE SINCE APRIL 2017, ON STRENGTH IN SOYBEAN, VEGOIL MARKETS
A code red was issued in South Australia on Friday as temperatures hit 42 degrees Celsius (108 Fahrenheit) in the state’s capital, while firefighters battling wildfires in New South Wales established containment lines in cooler conditions ahead of an expected heatwave this weekend.
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