Date 22-Oct 15-Oct 2022 Avg
Cotton Bolls Opening 98 87 92 90
Cotton Harvested 41 33 44 39
Corn Harvested 59 45 58 54
Soybeans Harvested 78 52 78 67
Sorghum Mature 96 92 94 94
Sorghum Harvested 67 53 66 61
Peanuts Harvested 55 47 66 50
Sugarbeets Harvested 72 50 78 67
sunflowers Harvested 27 12 33 29
Rice Harvested 91 88 93 93
Winter Wheat Planted 77 68 78 78
Winter Wheat Emerged 53 30 47 53Crop Condition
Very Poor Poor Fair Good Excellent
Cotton This Week 24 19 28 24 5
Cotton Last Week 23 20 27 25 5
Cotton Last Year 21 24 25 26 4Sorghum This Week 11 16 31 33 9
Sorghum Last Week 11 17 30 33 9
Sorghum Last Year 19 29 30 20 2Peanuts This Week 4 9 39 43 5
Peanuts Last Week 3 11 35 46 5
Peaanuts Last Year 1 6 31 54 8Pasture and Range This Week 18 22 29 27 4
Pasture and Range Last Week 16 21 30 28 5
Pasture and Range Last Year 23 26 29 19 3DJ USDA Grain Inspections for Export in Metric Tons – Oct 23
WA_GR101
Washington, DC Mon Oct 23, 2023 USDA Market News
COUNTRY OF DESTINATION IS REPORTED AS KNOWN AT THE TIME OF EXPORTATION.
INFORMATION CONTAINED IN THIS REPORT REFLECTS EXPORTED GRAIN INSPECTED AND WEIGHED
THROUGH THE AUTHORITY UNDER THE U.S. GRAIN STANDARDS ACT. NO ADDITIONAL ANALYSIS,
COMPILATIONS OR DATA IS AVAILABLE
GRAINS INSPECTED AND/OR WEIGHED FOR EXPORT
REPORTED IN WEEK ENDING OCT 19, 2023
— METRIC TONS —
————————————————————————–
CURRENT PREVIOUS
———– WEEK ENDING ———- MARKET YEAR MARKET YEAR
GRAIN 10/19/2023 10/12/2023 10/20/2022 TO DATE TO DATE
BARLEY 0 0 147 643 1,561
CORN 437,549 466,604 472,594 4,401,844 3,770,462
FLAXSEED 0 0 0 0 100
MIXED 0 0 0 24 0
OATS 0 100 0 3,794 6,486
RYE 0 0 0 0 0
SORGHUM 3,411 77,515 31,424 384,783 141,115
SOYBEANS 2,458,955 2,039,509 2,920,418 7,892,084 7,640,378
SUNFLOWER 0 216 288 2,421 1,680
WHEAT 168,868 356,042 133,319 6,923,435 9,510,038
Total 3,068,783 2,939,986 3,558,190 19,609,028 21,071,820
————————————————————————-
CROP MARKETING YEARS BEGIN JUNE 1 FOR WHEAT, RYE, OATS, BARLEY AND
FLAXSEED; SEPTEMBER 1 FOR CORN, SORGHUM, SOYBEANS AND SUNFLOWER SEEDS.
INCLUDES WATERWAY SHIPMENTS TO CANADA WheatGeneral Comments: Wheat markets closed mixed to higher yesterday and trends are still turning up in Chicago SRW but remain sideways in HRW and HRS. The war in Ukraine continues with Russia still bombing Ukrainian ports near the Black Sea and Danube River and has been having success. Russia is still exporting and offering Wheat into the world market. Ukraine and the EU countries are offering as well and are getting new business. Demand has been poor for US Wheat as Russia production looks strong, but exports are expected to increase for the rest of the marketing year. Weather forecasts call for drier weather for Australia and Argentina, with production losses now expected for both countries.Overnight News: The southern Great Plains should get isolated showers. Temperatures should be above normal. Northern areas should see isolated showers. Temperatures will average above normal. The Canadian Prairies should see scattered showers. Temperatures should average above normal.Chart Analysis: Trends in Chicago are mixed to up with objectives of 632 and 680 December. Support is at 582, 569, and 561 December, with resistance at 606, 640, and 650 December. Trends in Kansas City are mixed. Support is at 661, 652, and 645 December, with resistance at 688, 693, and 703 December. Trends in Minneapolis are mixed. Support is at 720, 711, and 708 December, and resistance is at 752, 777, and 791 December. RiceGeneral Comments: Rice closed higher yesterday on what appeared to be commercial and speculative buying. It was a strong rally and trends turned up with the price action yesterday. The harvest is almost over and less Rice is on offer from producers. The USDA reports showed little to get excited about either up or down in price. Yields are called average to below average in Texas and average so far in Arkansas as the harvest moves forward. The quality has been uneven with some crops affected by the extreme heat seen during the growing season. India will not allow Rice exports except for Basmati for now because of bad weather in some production areas. They have imposed export taxes o 20% on sales to keep the Rice in the country.Overnight News: The Delta should get isolated showers, mostly near the Gulf coast. Temperatures should be above normal.Chart Analysis: Trends are up with objectives of 1630 and 1710 November. Support is at 1600, 1590, and 1576 November and resistance is at 1629, 1637, and 1640 November. Corn and OatsGeneral Comments: Corn closed lower yesterday on what appeared to be speculative selling tied to forecasts for an improvement in the South American weather and on clear weather in the US to promote active harvest progress. Trends are mixed in the market now. Oats closed higher. The US Corn harvest is continuing with good weather and yield reports showing good and bad results with no real trend evident. Farmers report no real sales of Corn as they wait for higher prices. Weather forecasts remain mostly dry but with moderate temperatures for the Midwest for early this week, then a chance of showers. Demand for US Corn in the world market has been very low and domestic demand has been weak due to reduced Cattle and other livestock production. Demand is increasing now. The Brazil Corn harvest is over and so export prices for Corn from Brazil are relatively cheap and Brazil is getting the business. That could change in the coming year is the growing conditions deteriorate in Brazil as is possible in an El Nino year. It is already hot and dry in central and northern Brazil and in Argentina. Southern Brazil is too wet. Conditions are expected to improve over the next couple of weeks as a few showers are expected for Argentina and central and northern Brazil. These will not be enough to save crops but could buy the crops a little time until better rains arrive, hopefully in the near future.Overnight News: Medico bought 117,200 tons of US Corn.Chart Analysis: Trends in Corn are mixed. Support is at 487, 482, and 479 December, and resistance is at 507, 527, and 533 December. Trends in Oats are mixed. Support is at 378, 369, and 367 December, and resistance is at 395, 401, and 410 December. SoybeansGeneral Comments: Soybean Meal was higher last week, but Soybeans and Soybean Oil were lower. New buying was noted as Brazil remains hot and dry in northern areas and too wet in southern areas. Argentina is also dry. Initial yield results for the US new crop show that production and yields are above and below APH data with no real trend showing just yet. The data has been called disappointing to traders as production appears to be less than expected so far this crop year. Midwest weather forecasts call for dry conditions and above normal temperatures for the Midwest for the first part of the week, then showers and cooler temperatures are expected. Ideas are that the top end of the yield potential is gone and severe damage is becoming possible in some areas. Brazil basis levels are still low, and the US is being shut out of the market for most importers, but the US is price competitive now. Brazil is still selling a lot of Soybeans to China and other countries and reports indicate that the availability of Brazil Soybeans might be ramping down. The US sales to China have ramped up in the last month.Overnight News:Chart Analysis: Trends in Soybeans are mixed. Support is at 1270, 1251, and 1246 November, and resistance is at 1301, 1318, and 1332 November. Trends in Soybean Meal are mixed to up with no objectives. Support is at 415.00, 408.00, and 402.00 December, and resistance is at 429.00, 432.00, and 438.00 December. Trends in Soybean Oil are down with no objectives. Support is at 5140, 4990, and 4900 December, with resistance at 5430, 5510, and 5610 December. Canola and Palm OilGeneral Comments: Palm Oil was lower today on weakness in Chicago and despite stronger demand indications from India and China. Some say the market still needs to see less production coming. Traders still think that El Nino will cause big production problems down the road and are holding out hopes for rallies in the future, but supplies appear to be very strong for now. Canola closed lower yesterday along with the price action in Chicago and trends are turning down in this market. Futures appear to have failed at strong resistance levels on the daily charts yesterday. Drier weather is generally forecast for the Prairies and the crops have been stressed, but some rain is falling now to maintain crop condition. Harvest has been active and speculators were selling.Overnight News:Chart Analysis: Trends in Canola are down with objectives of 671.00 November. Support is at 678.00, 672.00, and 666.00 November, with resistance at 701.00, 710.00, and 719.00 November. Trends in Palm Oil are mixed. Support is at 3700, 3640, and 3570 January, with resistance at 3820, 3880, and 3900 January.Midwest Weather Forecast Mostly dry, but a few showers near the Great Lakes. Temperatures should average below normal.US Gulf Cash BasisCorn HRW SRW Soybeans Soybean Meal Soybean Oil
October 87 Dec 140 Dec
115 Dec
87 NovNovember
87 Dec 140 Dec
115 Dec 87 NovDecember
82 Dec
140 Dec 115 Dec 73 JanDJ Malaysian PM Cash Market Prices for Palm Oil – Oct 24
The following are prices for Malaysian palm oil in the cash market at 1000 GMT Tuesday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 792.50 -20.00 Unquoted – –
Dec 797.50 -20.00 Unquoted – –
Jan/Feb/Mar 807.50 -17.50 Unquoted – –
Apr/May/Jun 810.00 -20.00 Unquoted – –
RBD palm olein, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 800.00 -20.00 Unquoted – –
Dec 805.00 -20.00 Unquoted – –
Jan/Feb/Mar 815.00 -17.50 Unquoted – –
Apr/May/Jun 817.50 -20.00 Unquoted – –
RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Nov 755.00 -15.00 Unquoted – –
Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Nov 740.00 -15.00 Unquoted – –
Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 3,660.00 -60.00 Unquoted – –
Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Nov 226.00 -02.00 Unquoted – –
($1=MYR4.776)DJ China Dalian Grain Futures Closing Prices, Volume – Oct 24
Soybean No. 1
Turnover: 164,824 lots, or 8.00 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 4,953 4,953 4,888 4,894 4,960 4,911 -49 12,749 20,645
Jan-24 4,885 4,886 4,832 4,853 4,899 4,854 -45 120,771 173,888
Mar-24 4,824 4,850 4,804 4,822 4,866 4,821 -45 27,254 21,717
May-24 4,890 4,890 4,846 4,865 4,902 4,863 -39 2,923 9,411
Jul-24 4,850 4,853 4,822 4,840 4,868 4,836 -32 590 4,011
Sep-24 4,830 4,833 4,801 4,812 4,847 4,812 -35 537 1,891
Corn
Turnover: 513,055 lots, or 12.96 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 2,521 2,542 2,521 2,536 2,521 2,532 11 23,363 66,855
Jan-24 2,511 2,523 2,508 2,519 2,510 2,516 6 328,290 803,461
Mar-24 2,511 2,526 2,511 2,523 2,511 2,519 8 75,263 229,508
May-24 2,549 2,563 2,548 2,557 2,549 2,556 7 25,376 213,769
Jul-24 2,559 2,573 2,559 2,567 2,560 2,567 7 48,071 117,746
Sep-24 2,570 2,583 2,569 2,578 2,570 2,576 6 12,692 11,090
Soymeal
Turnover: 1,646,286 lots, or 62.08 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 4,086 4,086 3,966 3,978 4,117 4,014 -103 77,411 80,444
Dec-23 3,957 3,957 3,890 3,909 3,969 3,913 -56 28,066 57,440
Jan-24 3,875 3,883 3,834 3,859 3,903 3,855 -48 1,204,862 1,355,426
Mar-24 3,656 3,668 3,635 3,665 3,675 3,649 -26 14,784 64,444
May-24 3,381 3,401 3,372 3,400 3,402 3,384 -18 230,178 730,938
Jul-24 3,379 3,393 3,365 3,390 3,392 3,377 -15 53,933 471,647
Aug-24 3,447 3,463 3,438 3,458 3,466 3,449 -17 11,868 65,627
Sep-24 3,420 3,434 3,412 3,431 3,437 3,420 -17 25,184 147,586
Palm Oil
Turnover: 660,651 lots, or 46.96 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 7,150 7,150 6,978 7,018 7,150 7,052 -98 2,739 8,612
Dec-23 7,144 7,162 7,016 7,054 7,176 7,078 -98 13,349 31,171
Jan-24 7,184 7,188 7,032 7,080 7,198 7,106 -92 576,017 448,970
Feb-24 7,206 7,206 7,046 7,094 7,206 7,122 -84 8,649 24,546
Mar-24 7,210 7,220 7,066 7,112 7,238 7,148 -90 4,753 18,374
Apr-24 7,218 7,226 7,066 7,114 7,244 7,150 -94 3,486 8,608
May-24 7,204 7,216 7,056 7,108 7,234 7,134 -100 49,140 95,766
Jun-24 7,184 7,184 7,034 7,092 7,210 7,110 -100 270 772
Jul-24 7,142 7,142 7,002 7,040 7,168 7,042 -126 807 1,353
Aug-24 7,112 7,112 6,982 7,020 7,116 7,028 -88 156 1,678
Sep-24 7,068 7,080 6,950 6,996 7,066 7,000 -66 1,271 2,512
Oct-24 7,036 7,036 6,950 6,958 7,060 6,974 -86 14 15
Soybean Oil
Turnover: 789,637 lots, or 61.60 billion yuan
Open High Low Close Prev. Settle Ch. Vol Open
Settle Interest
Nov-23 8,108 8,108 7,888 7,910 8,114 8,004 -110 13,588 18,067
Dec-23 7,972 8,000 7,832 7,866 8,004 7,914 -90 8,326 38,709
Jan-24 7,888 7,924 7,754 7,806 7,932 7,834 -98 686,254 530,248
Mar-24 7,750 7,764 7,606 7,652 7,762 7,674 -88 2,876 30,467
May-24 7,556 7,556 7,390 7,440 7,558 7,468 -90 69,430 160,398
Jul-24 7,478 7,488 7,338 7,380 7,504 7,406 -98 5,155 120,242
Aug-24 7,462 7,462 7,344 7,382 7,464 7,396 -68 1,831 27,406
Sep-24 7,388 7,390 7,288 7,324 7,390 7,326 -64 2,177 7,033
Notes:
1) Unit is Chinese yuan a metric ton;
2) Ch. is day’s settlement minus previous settlement;
3) Volume and open interest are in lots;
4) One lot is equivalent to 10 metric tons.More By This Author:Softs Report – Tuesday, October 24Grains Report – Monday, October 23Softs Report – Monday, October 23
