Minimal trade demand for Australian Lentils from India. I have been advised by brokers that there are trade offers of USD 690 CFR Kolkata bulk in containers with limited buyer interest. Export parity from Australia at USD 710 CFR Kolkata – June/July.
Currently no demand for Australian Faba Beans in India’s market. Indication CFR Kolkata – USD 440 pmt FAB1 less USD 10 FAB2
Nepal, UAE & Bangladesh continue to be very quiet – no pulses demand forthcoming.
Pakistan market gone quiet this week after seeing strong demand of Australian desi chickpeas for last two weeks. Been advised of trade offers at USD 570 levels CFR Karachi in containers – no bids are forthcoming at these levels. Australian Kabulis no demand.
Seeing some demand for Australian canola seed in Nepal. However, still no parity with buyers expecting USD 655 CFR Birgunj levels; trade offer USD 675 CFR Birgunj. Competition from Ukraine-origin rapeseed keeping bids in check.
Heavy funds selling on the bourses for the full food, feed and oilseed complex.
Wheat continues to be hammered on the back of good crop conditions in the US, lower priced offers on new crop wheat from CIS and generally low demand from SEA millers who have covered their requirements up to July,23. Australian wheat in containers into main SEA ports quoted ASW – Low USD 330’s; APW – mid USD 330’s; AH2 – high USD340’s
Weak demand for Australian Sorghum in China due to a crash in the feed complex prices. Corn sales to China continue to be cancelled by exporters. Upto 800,000 tons purchased by China have been cancelled in recent weeks.
Trade offers for Australian Sorghum to China USD 355 levels CFR Tianjin for bulk in containers, however limited demand at low USD 340 levels.
Improving prospects of large grain supplies in the northern hemisphere growing regions is continuing to put a heavy lid on demand and pricing expectations of consumers continue to be heavily discounted to replacement values.
Australian growers continue to plant the winter crop which contributes to low sales and hence stagnant prices on Australian-origin grain. They continue to hold on to warehoused grain although export demand has dropped significantly with very little new business reported in the last few weeks.
About 50-60% crop has been planted in the eastern states of Vic/NSW/Qld and about 40% crop planted in WA.