The demand for old crop Australian wheat from Southeast Asian millers is sluggish due to the more sufficient Black Sea wheat supply & competitive prices that keeps Australian exporters out of game. In SEA, APW quoted at U$280/MT & ASW9 trading below U$265/MT to CFR SEA major ports in containers.

In China, this week Australian red sorghum (SOR1) has been trading to CFR Tianjin in containers at U$275/MT (S/O) & also hearing that in local market demand for sorghum is rising as the Mid-Autumn Day festival approaches. Additionally, USA sorghum has reportedly traded below at U$270/MT in containers, with Argentina’s sorghum buying bids at U$250/MT. This week hearing no indicative offers for Australian barley & RU barley offered below U$230/MT to CFR China main ports. Australian Kaspa peas demand is bearish against RU/Canadian peas offers as buyer bids are below U$350/MT. We heard some unconfirmed reports of Importers being asked to withdraw from import purchases of barley and sorghum to support domestic pricing amidst slower consumer offtake and abundant stocks in the country.

India’s domestic market for Desi Chickpeas continues to be robust at INR 80/kg. This week has seen considerable trading activity as resellers engage in liquidating their positions, with business reported at U$825-835/MT – (N/D) to CFR NS in containers. Hearing trade offers for CHK1(23/24) at U$920/MT – (S); CHK1(24/25) at U$865-870/MT – (O/N); U$845-850/MT – (N/D) in container; & also bulk offered at U$865/MT (O/N); U$825/MT – (N/D) to CNF India. Sluggish demand for Australian red lentils, heard this week limited qty trade reported NIP1/HAL1 at U$645/MT to CNF India in containers & also heard that Canadian crimson is trading in bulk at U$595-599/MT (S/O) to CFR Mundra.

Chickpeas crop in Australia is coming along in great shape with excellent growing conditions. This has increased grower/trader confidence in the crop leading to increased liquidity in forward selling. Although, focus is now on logistics of moving this crop into export markets. It has started to warm up in all key chickpeas growing areas and we expect Central Queensland to start harvesting in early October. Chickpeas in CQ will likely go onto bulk vessels. Moderate weather is required during Sep/early Oct for SE Qld and NNSW chickpea crop, a quick warm up in weather may impact yield potential. BOM latest temperature outlook forecasts an Increased chance of unusually warm days and nights, particularly across the north Australia and Tasmania from September to November.

Pakistan has not seen significant trade movements in Australian DCP this week, as buyers are focusing on Tanzanian and Russian DCP cargoes and waiting for Australian DCP crop harvest. Trade offers quoted for CHKM at U$865/MT – (S); CHK1(24/25) at U$840/MT – (N/D) to CFR Karachi in containers. There is a sluggish demand for Australian red lentils, quoted at U$675/MT to CFR Karachi in container.

In Bangladesh, last we heard Australian DCP new crop indicating bulk offers at U$855-860/MT to CFR Chittagong. As we heard BD local market is trending upwards in DCP at U$840-845/MT & down in red lentil at U$695/MT.

Nepal’s demand for new crop Australian DCP and red lentils has diminished, as buyers showing interest for Canadian lentils priced at U$650/MT & no interest in DCP due the high price.

Egypt’s buyer showing interest in the new crop of Faba beans for early shipments, offer quoted at U$450-460/MT to CFR Damietta in containers.

Disclaimer: Prices mentioned are for indication purpose only

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