27 April 2015 | Online since 2003



China's coldest winter may hurt wheat crop


Soycomplex

Jan 13 Soybeans closed at USD14.10 3/4, up 21 3/4 cents; Mar 13 Soybeans closed at USD13.88 1/2, up 21 1/4 cents; Jan 13 Soybean Meal closed at USD408.50, up USD10.30; Jan 13 Soybean Oil closed at 49.50, up 8 points.


Fund buying in beans was estimated at around 3,000 lots on the day. Weekly export inspections were robust at 39.652 million bushels, and in line with trade estimates of 37-43 million. That makes year-to-date inspections 36 percent ahead of last year at 814 million bushels vs. 599.1 million.

Based on a Bloomberg survey Argentina’s 2012/13 soybean crop is estimated at 54.6 MMT vs. the USDA's 55.0 MMT. Clarivi estimated the 2012/13 Brazilian soybean crop at 83.11 MMT vs. their previous estimate of 83.0 MMT and almost 25 percent up on last season. They pegged the 2012/13 Brazilian bean area at 27.5 million ha, up 10 percent from 2011/12. CNGOIC estimated China’s January bean imports at 4.6 MMT, down 14.8 percent from December. They estimated China’s 2012 bean imports at over 58.0 MMT, up 10 percent from a year ago.

Corn

Mar 13 Corn closed at USD6.85 1/2, up 5 1/4 cents; May 13 Corn closed at USD6.85 1/4, up 4 1/2 cents.


Weekly export inspections were poor at just 7.171 million bushels versus trade ideas of 9-13 million. Year-to-date inspections are now running 55 percent behind last year's levels. The USDA announced the sale of 102 TMT US corn to unknown for 2012/13 delivery. Based on a Bloomberg survey Argentina’s 2012/13 corn crop is estimated at 25.9 MMT vs. the USDA's previous estimate of 27.5 MMT. Clarivi estimated Brazil’s 2012/13 corn crop at 72.06 MMT vs. a previous estimate of 73.57 MMT and the USDA's 70 MMT December forecast. South American weather prospects are improving along with crop production potential it would seem. "Very dry soybean farms in Mato Grosso are expecting generous rainfall this week while Buenos Aires in southern Argentina is expecting sunshine and warmth - the opposite of December," said Martell Crop Projections.

Wheat

Mar 13 CBOT Wheat closed at USD7.51 1/4, up 4 cents; Mar 13 KCBT Wheat closed at USD8.07 1/2, up 3 cents; Mar 13 MGEX Wheat closed at USD8.45 3/4, up 4 3/4 cents.


Weekly export inspections of 13.363 million bushels were above trade estimates of 9-12 million. Year-to-date inspections are 528.745 million bushels, down 13 percent compared to 607.562 million a year ago. CNGOIC said that China’s coldest winter in 28 years may hurt the wheat crop there. Things are looking a little brighter for US winter wheat: "Precipitation was very limited this past weekend, with only a light wintry mix noted on Friday in central Texas. However, the tranquil pattern is about to change, as a significant storm system is poised to develop across the southern Plains and Delta Tuesday and Wednesday, then spread into the southern and eastern Midwest late Wednesday and Thursday. The significant upturn in rains will help to improve soil moisture and river levels a bit," said MDA CropCast.

Download




Comments


No comments posted yet. Be the first to post a comment

To post comment without approval login or register

Display name

Please enter your name

Email (optional)
Comment

Please enter your comment

Post Comment

Your comment submitted successfully.Please wait for admin approval.

Some error on your process.Please try one more time.



Jobs


8 April 2015
Production Horticulture (Garden Centre) Apprentice
Agriculture, Amenity Horticulture, Arboriculture, Construction, Engineering, Equine, Gamekeeping, Sport, Food & Drink Man...

24 April 2015
Lettings Coordinator
Countrywide, UK's Largest Lettings, Estate Agency and Financial Services Group, with over 1300 branches across England, Scotl...

14 April 2015
Internal Communications Manager
We are the UK’s leading dairy foods company. We are proud of our links to the countryside and our dairy heritage....

8 April 2015
Relief keyperson in Milton Keynes
We are looking to recruit relief staff to work in any of our DSP’s in Milton Keynes and Northampton to cover staff training a...

16 April 2015
Apprentice Care Assistants – GLASTONBURY
You can come to us for apprenticeship training in a wide range of occupations including– Agriculture, Apparel, Arboriculture,...



Top stories you may have missed
10 April 2015 | Agri Safety

The permanent eradication of Bovine Viral Diarrhoea [BVD] in Scottish cattl...


10 April 2015 | Dairy

The abolition of milk quotas in Europe on 1st April has resulted in a numbe...


10 April 2015 | Cattle

The top 14 milk producing countries in Europe will increase their productio...


10 April 2015 | News

Matt Ware is the NFU's head of government and parliamentary affairs, based ...


10 April 2015 | Arable

There is a 'desperate need' to improve farmgate returns given low incomes a...


9 April 2015 | Arable

Rapid stem extension, after a slow start to spring, is likely to create spl...


9 April 2015 | Finance

The time has come for landlords to expect to see reductions in farm rents, ...


8 April 2015 | Cattle

Cogent’s reputation as a source of the highest calibre sires has been enhan...


8 April 2015 | Arable

The spread of exotic and aggressive strains of a plant fungus is presenting...


7 April 2015 | Animal Health

The FSA’s new Food Crime Unit wants the industry to share information, some...