Global Ag News for Oct 26.22


EU Soft-Wheat Exports Rise 1.8%; Corn Imports More Than Double

EU soft-wheat exports during the season that began July 1 reached 11.15m tons as of Oct. 23, compared with 10.96m tons in a similar period a year earlier, the European Commission said on its website.

  • Leading destinations include Algeria (1.47m tons), Morocco (1.42m tons) and Egypt (1.17m tons)
  • EU barley exports are at 2.37m tons, compared with 4.01m tons a year earlier
  • EU corn imports at 9.04m tons, against 4.26m tons a year earlier


Wheat prices overnight are up 4 1/4 in SRW, up 3 in HRW, up 6 in HRS; Corn is up 1 1/2; Soybeans up 9 1/2; Soymeal up $0.14; Soyoil up 0.62.

For the week so far wheat prices are down 12 1/4 in SRW, down 11 in HRW, down 4 in HRS; Corn is up 4 3/4; Soybeans down 3 1/2; Soymeal down $0.09; Soyoil up 1.25.

For the month to date wheat prices are down 82 1/2 in SRW, down 54 in HRW, down 23 3/4 in HRS; Corn is up 10 1/4; Soybeans up 26 1/4; Soymeal up $14.00; Soyoil up 11.34.

Year-To-Date nearby futures are up 9% in SRW, up 17% in HRW, down -2% in HRS; Corn is up 16%; Soybeans up 5%; Soymeal up 1%; Soyoil up 29%.

Chinese Ag futures (JAN 23) Soybeans down 9 yuan; Soymeal up 40; Soyoil up 8; Palm oil up 40; Corn up 5 — Malaysian palm oil prices overnight were up 1 ringgit (+0.02%) at 4128.

There were changes in registrations (-8 Soymeal). Registration total: 3,080 SRW Wheat contracts; 0 Oats; 0 Corn; 5 Soybeans; 96 Soyoil; 288 Soymeal; 40 HRW Wheat.

Preliminary changes in futures Open Interest as of October 25 were: SRW Wheat up 7,306 contracts, HRW Wheat down 591, Corn up 10,617, Soybeans down 10,972, Soymeal up 3,134, Soyoil up 4,722.

Northern Plains Forecast: Isolated showers south Wednesday-Thursday. Mostly dry Friday-Saturday. Temperatures near to below normal through Thursday, near to above normal Friday-Saturday. Outlook: Mostly dry Sunday-Monday. Scattered showers Tuesday-Thursday. Temperatures above normal Sunday-Tuesday, near to above normal Wednesday, near to below normal Thursday.

Central/Southern Plains Forecast: Mostly dry Wednesday. Isolated to scattered showers Thursday-Saturday. Temperatures near to below normal through Saturday. Outlook: Mostly dry Sunday-Tuesday. Isolated to scattered showers Wednesday-Thursday. Temperatures near to below normal Sunday, near to above normal Monday-Thursday.

Western Midwest Forecast: Mostly dry Wednesday-Friday. Scattered showers south Saturday. Temperatures near to below normal Wednesday, near to above normal Thursday-Saturday.

Eastern Midwest Forecast: Scattered showers Wednesday. Mostly dry Thursday-Saturday. Temperatures near to above normal Wednesday, near to below normal Thursday-Friday, near to above normal Saturday. Outlook: Isolated to scattered showers Sunday-Monday. Mostly dry Tuesday. Scattered showers Wednesday-Thursday. Temperatures near to above normal Sunday, above to well above normal Monday-Thursday.

The player sheet for Oct. 25 had funds: net sellers of 500 contracts of SRW wheat, buyers of 3,500 corn, sellers of 3,000 soybeans, buyers of 2,500 soymeal, and  buyers of 1,000 soyoil.


  • CORN PURCHASE: South Korean animal feed maker Nonghyup Feed Inc. (NOFI) bought an estimated 68,000 tonnes of animal feed corn in an international tender for up to 138,000 tonnes which closed on Tuesday
  • CORN PURCHASE: The Korea Feed Association (KFA) in South Korea purchased about 66,000 tonnes of animal feed corn expected to be sourced from South America or South Africa in a private deal without issuing an international tender
  • WHEAT PURCHASE: Algeria’s state grains agency OAIC is believed to have started buying optional-origin milling wheat in an international tender which closed on Tuesday, seeking limited shipment to two ports only
  • WHEAT PURCHASE: Jordan’s state grains buyer purchased about 60,000 tonnes of hard milling wheat to be sourced from optional origins in a tender which closed on Tuesday
  • RICE PURCHASE: South Korea’s state-backed Agro-Fisheries & Food Trade Corp purchased an estimated 31,200 tonnes of rice to be sourced from Vietnam and optional origins in an international tender for up to 90,100 tonnes which closed on Oct. 19
  • FEED WHEAT PURCHASE: Importers in Thailand are believed to have purchased about 60,000 tonnes of animal feed wheat expected to be sourced either from Australia or the Black Sea region in a tender which closed late last week
  • WHEAT TENDER: The Taiwan Flour Millers’ Association issued an international tender to purchase 38,515 tonnes of grade 1 milling wheat to be sourced from the United States
  • WHEAT TENDER: Jordan’s state grain buyer issued an international tender to buy 120,000 tonnes of milling wheat, an official source said.


  • VEGETABLE OILS TENDER: Egypt’s state grains buyer, the General Authority for Supply Commodities (GASC), said on Sunday it was seeking vegetable oils in an international purchasing tender for arrival Dec. 10-30. Traders should submit bids for payment via 180-day letters of credit, GASC said.
  • WHEAT TENDER: A government agency in Pakistan issued an international tender to purchase and import 500,000 tonnes of wheat
  • BARLEY TENDER: Jordan’s state grain buyer is seeking 120,000 tonnes of barley in an international tender with the deadline set for Oct. 26, a government source said.
  • SUGAR TENDER: Egypt’s state grains buyer, the General Authority for Supply Commodities, is seeking 50,000 tonnes of raw sugar of any origin on behalf of the Egyptian Sugar & Integrated Industries Company. GASC said traders should submit bids for payment at sight and 180-day letters of credit, and it would choose between them. The deadline for offers is Oct. 29 and arrival is set between Dec 1-15 and/or Dec. 16-31.
  • WHEAT TENDER UPDATE: Iraq changed the closing date of its international tender for 50,000 tonnes of wheat to Oct. 30 instead of Oct. 24

Earth at night


ETHANOL: US Weekly Production Survey Before EIA Report

Output and stockpile projections for the week ending Oct. 21 are based on five analyst estimates compiled by Bloomberg.

  • Production seen slightly higher than last week at 1.017m b/d
  • Stockpile avg est. 21.887m bbl vs 21.844m a week ago

EU 2022/23 soybean imports at 3.50 mln tonnes, rapeseed 2.21 mln tonnes

European Union soybean imports in the 2022/23 season that started on July 1 had reached 3.50 million tonnes by Oct. 23, against 3.92 million by the same week in the previous season, data published by the European Commission showed on Tuesday.

EU rapeseed imports so far in 2022/23 had reached 2.21 million tonnes, compared with 1.52 million tonnes a year earlier, the data showed.

Soymeal imports over the same period totalled 4.94 million tonnes against 5.17 million tonnes in the prior season, while palm oil imports stood at 1.08 million tonnes versus 1.83 million tonnes in 2021/22.

EU sunflower oil imports, most of which usually come from Ukraine, were at 520,152 tonnes, against 474,615 tonnes a year earlier, the data showed.

Brazil Corn Exports Seen Reaching Up To 6.453 Million Tns In October – Anec


USDA attaché sees Argentina 2022/23 wheat crop at 15.5 million T

Following are selected highlights from a report issued by the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) post in Buenos Aires:

“Due to dry conditions, Argentine wheat production for marketing year (MY) 2022/23 is forecast down at 15.5 million metric tons (MMT), 2 MMT lower than the official USDA estimate. As a consequence wheat exports are lowered to 10 MMT. Barley exports for MY 2022/23 are also forecast down at 3 MMT, 500,000 MT lower than official USDA projection as result of lower production and slower farmer selling. Corn exports in MY 2022-23 are projected at 37.5 MMT, 3.5 MMT lower than the official USDA estimate mainly due to a smaller forecast crop. Sorghum exports in MY 2022-23 are forecast at 2.2 million tons, with China being the primary destination.”

Malaysia Oct. 1-25 Palm Oil Exports to EU 270,680 Tons: SGS

Following is a table of Malaysia’s palm oil export figures, according to estimates by independent cargo surveyor SGS Malaysia Sdn.

  • EU imported 270,680 tons; +25.4% m/m
  • China imported 230,541 tons; +11.7% m/m
  • India imported 117,700 tons; -29.2% m/m

Argentina changes biofuel pricing in line with surging inflation

Argentina’s government has set new criteria for fixing the value of sugar cane- and corn-based bioethanol used in gasoline for domestic consumption, the country’s official gazette said on Tuesday.

The measure aims to adjust prices in line with the sharp rise in inflation in the country, which could exceed 100% this year.

The ministry of economy’s energy secretariat said in the resolution the prices “will be updated in accordance with and proportionally to the variation in the price of petrol at the pump”.

The resolution proposed the possibility of alternative pricing mechanisms in cases of substantial discrepancies with the biofuel production costs.

According to data from the energy secretariat, the value of sugar cane-based bioethanol is 88.24 pesos per litre, while the price for corn-based bioethanol is trading at 107.411 pesos per litre.

Argentina’s biofuel exports are on track to set a record this year, said a recent report by consultancy firm Investigaciones Económicas Sectoriales (IES).

“In 2022, sector activity will show an increase in production and sales for both biodiesel and bioethanol,” it said.

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