venedor0 commentsJanuary 26, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (26/01/2024)

Australian wheat market prices remain unchanged last week due to slow demand from offshore destinations. Markets mostly trading sideways with now new upside factors yet. Weather impacts to northern hemisphere wheat Feb onwards would be the next drivers of volatility – remains to be seen. SEA millers are also generating very limited demand in the region, with APW1 being quoted at U$300/mt levels for major SEA ports in containers. Heard bulk APW offers at U$295 CNF SEA ports; ASW high U$270’s CNF SEA ports.

Australian barley facing fierce competition from Black Sea & Argentina in China market. Hearing Russian barley being quoted between U$230-245/mt levels to CNF major China ports & Australian barley quoted at U$275/mt levels in containers. Bulk Australian barley flows continue into China is at regular pace with appx. 3 mmt exported since restrictions were lifted.

Negligible demand for Kaspa peas in China with their YP stock at ports in excess of 300k mt and slow local markets. Any new price direction now to be post Chinese New Year holidays(09Feb24 to 18Feb24). Australian red sorghum trade offers at U$310-315/mt in containers against cheaper USA sorghum offers at U$295/mt to CNF major China ports with limited buying interest. New crop Australian mungbeans have also continued to trade at around U$950/mt levels CNF Qingdao. Australian summer crop Sorghum & mungbeans are currently expected to be doing well on back of ample moisture due to recent rain events in eastern Australia. Sorghum harvest expected by trade at this stage to be closer/over 2mmt – ABARE numbers yet awaited). Harvest will be well spread out with Central Queensland planting the crop in Jan, harvest likely May/June/July, early southern crops starting to harvest now. Mungbeans with weather permitting may be a 100kmt crop although numbers not yet out and traders keeping fingers crossed.

Demand for Australian red lentils in India is pretty much flat, with no major trading activity reported last week. We heard trade offers of NIP1/HAL1 at U$710-715/mt levels & also heard from the market sources that NIP1/HAL1 traded at U$705/mt in containers (April/May) shipment. As India’s Rabi crop starts to mature Feb onwards, we may see some direction with hopes YP/lentils will continue to be imported to fill in any Rabi crop shortfalls.

In Nepal, no major trade activity in Australian red lentils & Desi chickpeas, while limited quantity of Australian canola min.44% traded at U$585-590/mt levels to CFR Birgunj in containers. Heard small demand for Australian Lentils at $730 – $740/mt and Desi’s at $640/mt CNF Birgunj – not viable basis Australia replacement cost.

The current market in Pakistan is bearish on the pulses complex; CHKM is being quoted at U$615/mt and NIP1/HAL1 lentils at U$715/mt levels in containers. As heard from market sources that limited CHKM trades were reported between at U$590-595/mt levels in containers.

Australian red lentils are not gaining significant attention in Bangladesh. Enquiries for Canola and Kaspa peas at U$560-565/mt and U$460-470/mt levels respectively CNF Chittagong. CHK1 trade reported below U$695/mt levels to CNF Chittagong in container. 5 Chickpeas vessels(150kmt) on track ex Australia for Bangladesh arrival in Q1, 2024.

In Egypt, we are observing limited trade activity in Faba beans, which is trading over $485/mt (fiesta type)& Warda type over U$465/mt to CFR Damietta in containers last week. Red Sea surcharges affecting trade flows to Egypt although demand remains consistent.

On 2024 cropping, Australia should be on track to produce a major crop in winter 2024 thanks to the summer rains across all eastern Australia cropping areas filling up the deficits on soil moisture profiles. According to some analysts 2024 winter crop could be on track to produce in excess of 31mmt wheat; 13mmt barley; 6mt canola weather permitting.

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venedor0 commentsJanuary 12, 2024Weekly Market Update

Grains, Pulses & Oilseeds Market Update (12/01/2024)

Global wheat markets experienced a seasonal slowdown during the festive season break, while Australian wheat markets remained quiet as well. In SE Asia region, APW being quoted at U$305/mt levels & AH2 being quoted at U$385/mt levels to CFR major SEA ports.

In desi chickpeas, experiencing slow demand in new crop from any destination. Nepal is completely absent from participation. No price parity in Pakistan & Bangladesh market.

Australian lentil demand is bearish in India, we heard trade offers for NIP1/HAL1 at U$735-740/mt levels to Kolkata with no firm buying interest. Limited trades reported last week between at U$710-715/mt levels in containers.

We are seeing some trade activities in Pakistan around desi chickpeas as Ramadan is near buyers are trying to secure coverage in Jan shipments. We heard trade offers for CHKM quoted at U$625-630/mt levels to CFR Karachi for Jan shipments in containers & also we are hearing trade offers for NIP1/HAL1 at U$730/mt levels to CFR Karachi in containers.

In Nepal, no major developments are observed in Australian lentils, desi chickpeas & Canola seeds. As we are hearing buying idea for GM Canola min.44% at U$580/mt levels to CFR Birgunj in containers.

The Chinese market is silent as no firm demand coming for Australian barley & KASPA PEAS. Buyers are receiving trade offers of Russian barley at U$230/mt as the feed market searches for low-cost barley. For Australian sorghum, we are hearing buying idea at U$320-330/mt levels for new crop to CNF China major ports in containers.

In Egypt, we are observing some activity in Faba beans, as we heard trade offers for Faba beans quoted at U$485/mt levels to CFR Damietta in containers.

The Bangladeshi market is silent, no participation from buyers.

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venedor0 commentsDecember 22, 2023Weekly Market Update

Grains, Pulses & Oilseeds Market Update (22/12/2023)

The Red Sea has been hit by multiple attacks, posing significant risks to global trade and shipping, increasing the cost of insuring and shipping goods through the region.

Despite China’s purchases of US wheat, Russian wheat remains a key competitor in global wheat markets. Australian wheat markets have experienced a decline in the past week, largely due to a stronger Australian currency and a lack of activity.

Australian wheat faces fierce competition with Black Seas wheat in the SEA region, with large millers already covered till February 2024 and pocket-sized demand emerging with limited buying interest. SEA trade offers are being quoted for APW at U$310-312/mt and APH2 at U$380-385/mt levels in containers.

In desi chickpeas, market activity is minimal as growers and trade slow down for the festive season, and overseas interest remains low.

Pakistani buyers seek Ramadhan coverage as we are observing desi chickpeas demand & sluggishness in Australian lentil demand. We heard CHKM trade offers quoted at U$620/mt for Jan/Feb shipments & NIP1/HAL1 trade offers at U$735/mt levels to CFR Karachi in containers.

Yellow Peas have found a new home in India, indicating no significant demand for Australian red lentils, and heard trade offers for NIP1/HAL1 at U$735 levels have not been met with firm interest.

China’s KASPA PEA and Australian sorghum new crop are experiencing minimal trade demand, with possible buying ideas of U$425/mt levels and U$330/mt levels respectively to CFR Tianjin port & as we heard that US sorghum traded at U$320/mt levels to CFR Tianjin.

In Bangladesh, we are seeing some interest for Australian desi chickpeas, as importers are searching for supplies in mid-January to cover Ramadan. Heard of a few trades to CFR Chittagong for January and February shipments in December, at a price of US$700/mt levels to CFR Chittagong in containers.

In Nepal, there have been no significant developments in Australian desi chickpea, lentils, and GM canola due to buyers’ willingness to wait because of premium prices.

October Export Report Summary as per ABS :-

  • Canola export increased by 5%, with major destinations being France, Japan, Mexico, and Pakistan.
  • Feed barley export increased by 108%, with malt barley down by 29%.
  • Sorghum export declined by 82%, mainly bought by China.
  • Lentil export decreased by 42.5%, with top buyers being India, Sri Lanka, and Pakistan.
  • Chickpea export increased by 49%, with volume buyers being Pakistan, Bangladesh, and UAE.
  • Bulk wheat export decreased by 6%, with containerized business up by 2%.

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venedor0 commentsNovember 10, 2023Weekly Market Update

Grains, Pulses & Oilseeds Market Update (10/11/2023)

The market expects wheat world ending stocks to be somewhat lower for the 2023/24 season due to dry seasonal circumstances in Australia and Argentina. Russian production is likely to climb from 85 million mt to 93 million mt, as the Russian government has revised its projection as per USDA.

In Wheat, Australian wheat markets this week have been experiencing lower bids ranging from A$5 to A$10 per tonne on soft wheats compared to last week due to harvest progress. Exporters are actively chasing APH where spreads have increased to more than A$120 pmt to APW and A$100 pmt to AH2 in some procurement arcs. QLD harvest is nearly complete and NNSW should finish in 1-2weeks, central and southern NSW harvest deliveries will continue to maintain pressure on pricing and we expect pricing to fall away another A$10-A$15 on account of harvest pressure in southern NSW and VIC. China supposedly continues its purchasing of APW wheat at/sub U$300 CFR in bulk. SEA containers offered indicatively APW – U$300-U$305+/- main ports; APH2 – U$380+/- main ports.

In Chickpeas, harvest seems complete in QLD/NNSW, demand remains weak for Australian desi chickpeas, only Bangladesh is a limited volume buyer as UAE, Pakistan & Nepal buyers are not participating due to premium prices . New crop CHK1 (23/24) indications CFR Karachi/Chittagong – USD 670 pmt.

In Pakistan, demand for Australian red lentils was firmer this week due to anticipated lack of availability of stock for Ramadan & buyers were actively participating. We heard Nipper/Hallmark#1 traded at U$720/mt levels to CFR Karachi in containers for Dec/Jan shipments. As local market is upside & also USD/PKR is supporting.

In India, minimal demand & buyers showing limited interest for Australian red lentils at the moment as we learned govt. bodies continue to tender and purchase is doing procurements to commerce domestic market due low production & election year on cards. We heard trade offers yesterday for Nipper/Hallmark#1 at U$725/mt levels to Kolkata in containers, some limited trades also reported U$700/mt for last week.

In Bangladesh, no major movements at the movement since last week trade of desi chickpeas no.1 at U$650/mt levels & also Kyabra is offering at U$690/mt levels to CFR Chittagong in containers. We see no major upside or significant demand levels and market continues to trade sideways on limited volumes.

In Nepal, no such major movement in Australian desi chickpeas & red lentils as buyers are willing to wait due to premium rates. CHK1(23/24) bid/offer spread at U$45 pmt CFR Birgunj; Australia canola seed still no demand as still at +U$50 pmt disparity to cheaper origins.

In Egypt, market has slowed down a bit on lentils, fabas and lupins as we heard trade offers that FABA Beans are offering below at U$420/mt & Nipper/Hallmark#1 at below U$720/mt in containers.

In China, lackluster demand for Australian pulses in containers. KASPA Peas no demand. We heard Russian yellow peas offering at U$330/mt at CFR China ports with lack of buying interest. In Barley, buyers getting offers at U$270/mt levels to CFR China major port. Sorghum sees limited demand.

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venedor0 commentsNovember 3, 2023Weekly Market Update

Grains, Pulses & Oilseed Market Update (03/11/2023)

Over the last week, the global market wheat market remains unchanged.

Australian wheat local market prices remain unchanged, however in some regions where harvest is near about to finish, selling pressure is visible. In QLD prices are about A$5/mt less than week ago; WA harvest has picked up with reduction in price about A$10/mt, while Northern NSW harvest on full swing experienced lower price about A$15/mt; SA, Victoria & Southern NSW will be in peak harvest in 2-3 weeks. With harvest in Victoria commencing, wheat is now generally looking workable in containers to SE Asia although buyers also keeping a watch on harvest pressure to engage in coverage for 1st quarter of 2024.

On Barley, prices remain sluggish. China is allegedly purchasing more feed barley, and quality for this harvest is generally good with more Malt grade. This is causing feed/malt premiums to reduce.

Desi chickpeas harvest in NSW is on in full swing with bids from buyers remaining strong to upcountry packing sites. Destinations such as Pakistan, Nepal & UAE remain out for new crop due to significant spreads on old crop 1’s & CHKM vs new crop CHK1. At the moment only Bangladesh remains serious buyer for new crop CHK1 but with limited opportunities to trade them given the currency payment issues.

Lentils demand remains constant although pricing has been impacted by sluggish demand in India and harvest selling pressure in SA. Quality is generally anticipated to be good for this harvest in contrast to last year’s crop with significant quality issues. Victoria will harvest in 2-3 weeks with most packing sites now committed for Dec period and shipping window now spreading to Jan/Feb. Bulk shippers also gearing up with expected 5-6 vessels to be loaded 1st qtr 2024.

In Bangladesh, we are noticing trade some movements for desi chickpeas & buyers are actively participating in cover the stock before Ramadan 2024. We heard for CHK1 traded at U$650 to U$670/mt levels CFR Chittagong in containers (Nov/Dec) & also we heard trade offers for Nipper/Hallmark#1 at U$710-U$720/mt levels CFR Chittagong; for Kyabra desi we heard trade offers at U$690/mt levels CFR Chittagong for Nov/Dec in containers.

In China, no major demand for Kaspa peas against cheaper Russian yellow peas trade offers at U$330/mt levels CFR major China ports in containers. Australian sorghum demand losing ground at U$360/mt levels against cheaper US Sorghum trade offers at U$320/mt levels (all prices CFR major China ports). As we learned that domestic sorghum prices are more competitive & that hits imported sorghum very hard his year; For Australian barley, we heard trade offers at U$270/mt levels (CFR major China ports) with limited buying interest. Container demand in China generally remains sluggish.

In India, minimal trade demand for Australian red lentils since last week. We heard the trade offers for Nipper/Hallmark#1 – U$705-U$710/mt CFR Kolkata in containers with no buying interest.

In Pakistan, lack of trade demand for desi chickpeas & nipper/hallmark#1. We heard trade offers CHKM old crop at U$545/mt levels CFR Karachi & Also we heard Nipper/Hallamark#1 trade offers at U$710/mt CFR Karachi. Local domestic Karachi market price for CHKM at U$505/mt levels & CHK1 at U$525/mt levels; For Australian red lentils, we heard trade offers at 690/mt levels in bulk in vessel CFR Karachi.

In Nepal, no major movement in the market for desi chickpeas, Canola & Nipper/hallmark#1. Lack of demand at current values.

Export of lentils increased by 37% & India remains top destination followed by UAE, Egypt & Bangladesh in September as per ABS.

Exports of Desi Chickpeas fell by 19.5% & Pakistan remains major sales destination followed by UAE & Nepal in September as per ABS.

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venedor0 commentsOctober 27, 2023Weekly Market Update

Grains, Pulses & Oilseeds Market Update (27/10/2023)

The global wheat crop estimates for 2023–24 was reduced by 2 MMT to 785 MMT as per International Grains Council (IGC) which is 18 MMT lower than crop produced in the previous season.

The global wheat market has been bearish over the last week because to Black Sea competition. Russia agreed to export 70 million tons of grains, legumes, and oilseeds to China over a 12-year period. SEA wheat buyers now looking for coverage for Jan 24 to Mar 24 period with price expectations on APW at below U$300/mt CFR major SEA ports in containers. With harvest currently ongoing we are observing limited high protein wheat with majority of crop expected to fall in ASW/APW category.

In desi chickpeas, harvest deliveries in full swing in QLD/NSW but we don’t see any firm demand at the moment for new crop of Australian desi chickpeas as we learned Pakistan already had sufficient stock as of now, Nepal & UAE not keen to buy at premium price. Bangladesh slowly covering container demand for Ramadan 2024 requirements, with ongoing shipments allowing pricing to hold up for now. Market indications are U$640 to 650/mt levels CFR Chittagong.

In China, market is sluggish at the moment for Australian sorghum & as we heard trade offers at U$360/mt levels in containers with limited interest from buyer. In Australian barley, we heard trade offers at around U$270’s levels with lack of bids from buyer as Russian barley has been traded U$238/mt levels in containers. Lastly, we are observing that no China trade demand for Australian Kaspa Peas at the moment.

In India, we are observing no major trade activities for Australian red lentils since last week due to ongoing festival season & also we learned that buyers are willing to wait to get prices to soften up. We heard trade offer for Nipper/Hallmark#1 at U$730/mt levels for Kolkata in containers.

In Pakistan, after emerging as top volume buyer for Australian CHKM, demand has slowed down due to sufficient stock availability. We heard trade offers for old crop CHKM at U$525-535/mt levels & local market prices for CHKM at U$500/mt levels.

In Nepal, no trade activities due to going on festival season. As we head trade offers for CHK1 at U$670/mt levels to Birgunj in containers & also heard the Ukraine rapeseed traded at U$535/mt levels in Nov/Dec shipment in containers

In Egypt, we are noticing consistent enquiries for Faba beans. We heard trade offers at CFR Damietta at U$440/mt. With Victoria harvest delayed, earlier shipment requirements are being filled from QLD/NSW.

AUD/USD in range of 0.63/0.64 which is assisting export business.

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venedor0 commentsAugust 31, 2023Weekly Market Update

Grain, Pulses & Oilseed Market Update (31/08/2023)

Global wheat market remains unchanged over last week. Northern hemisphere harvest coming to a close and ample stock availability and shipment from CIS makes buyers comfortable on current supplies. Australian local wheat prices are bit higher than last week as outlook is getting drier. Grower’s bids are increasing gradually as result.

In SEA region, Australian wheat prices are still unable to find export parity against cheaper Black Sea & EU wheat. As we heard trade offers for Black Sea & EU wheat at around U$290 pmt levels for 11.5% SEA destinations whilst Australian wheat is north of U$300 pmt.

China purchased in 600,000 MT of Australian BARLEY since tariffs has been removed. There is a strong demand for BARLEY but due to high local rates containerized business is not workable at the moment. We heard trade offers at U$280 levels in containers.

In China, we are observing very limited trade demand for SORGHUM. We heard trade offers at
U$340 levels in container

In India, the current scenario as we’re observing that El-Nino factor (below average Aug monsoon rains) already created upswings in pricing of various Pulses, rice, sugar, Wheat & vegetables in the domestic market. Supply fears are creeping in as a result of lower-than-average monsoons going into Rabi crop planting starting next month.

In India, firm trade demand for Australian red lentils since last week. We heard Australian red lentils (Nipper/Hallmark#1) old crop 22/23 traded to CFR Kolkata at U$765 pmt levels & also Canadian Crimson new crop 23/24 traded at U$780 pmt levels to CFR Nhava Sheva in containers. Australian local prices for both old and new crop remain strongly bid in both Victoria and South Australia with some good selling interest from growers at these numbers. With Canadian crop numbers seemingly coming in lower, we could possibly see further pricing upside should crop planting on Tur and lentils falter as a result of lower-than-average monsoons and resultant lower planting soil moisture.

In Pakistan, we heard CHKM quoted/traded to CFR Karachi at U$550 -545 pmt levels in containers for Oct/Nov Shipment period & heard trade offer for Australian red lentils (Nipper/Hallmark#1) at U$750 pmt levels.

In Bangladesh, we are observing significant demand for desi chickpeas since last week, we heard trade offers for CHKM for old crop 22/23 at U$610 pmt levels.

In China, minimal trade demand for KASPA PEAS due to cheaper availability of Russian yellow peas at U$350 pmt levels in containers.

As per BOM Australia, El Niño Alert continues, with El Niño development likely during spring. Cropping areas across Australia increasingly loosing sub-soil moisture and most areas require between 15-25 mm of rain in the next 2 weeks to sustain currently anticipated production numbers. Harvest setting in early in Central Queensland where harvest should start in the next week; south Queensland should start harvesting early Oct. We are generally expecting this year to be an early harvest on account of warmer than usual climate in Aug.

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venedor0 commentsAugust 24, 2023Weekly Market Update

Grains, Pulses & Oilseeds Market Update (24/08/2023)

Global wheat production for 23/24 remained unchanged at 784MMT, over a 19MMT drop compared to 22/23 production due to decreasing Russian production as per IGC.

In Australia, before the arrival of the new crop, growers are concentrating on selling their old crop and clearing up their warehouse stock. Local wheat market trade demand remains strong for SFW & H2. New crop wheat port pricing has seen a jump last 2 weeks of between A$10-A$20 pmt, however grower selling subdued due to limited rain and increasing concerns on crop yields as a result.

As per PIRSA, South Australian crop production is estimated for wheat 5.08Mt, barley 2.17Mt, & canola 472K. Overall grain production 23/24 crop projected 8.8 MT compared to last year 12.8MT. Growers in the state remain concerned about the forecasted rainfall for late winter and early spring.

In Australia, in local market the price of lentil old & new crop was significantly higher last week due to seemingly tight global snd due to dryness concerns in Canada and India, with destination interest now significant. Demand continues with old crop price up by A$70 pmt & new crop price up by A$80 pmt.

In India, there is significant demand for Australia’s red lentils, we heard new crop 23/24 trade offers for Nipper/Hallmark#1 at high U$755 pmt levels to CFR Kolkata (bulk in containers) for Oct/Nov shipments period & good number of enquiries from all the locations. As Indian market for lentil is up by U$80 pmt over past two weeks & as we heard old stocks are getting liquidated at U$720 pmt levels. Bangladesh demand is limited at this stage for red lentils although they will need to participate for Oct/Nov/Dec shipments when their available stocks start running low.

In Bangladesh, we are observing strong demand for Australian desi chickpeas, as we heard new crop 23/24 trade offers for CHK1 at U$545-550 pmt levels, however limited trades heard as not many traders willing to sell at these levels without selling support from origin. Local Australian markets have increased grower bids however with limited selling interest in both old and new crop. Desi chickpeas demand in Pakistan remains subdued, last trades heard CFR Karachi at U$535 pmt (bulk in containers).

In China, trade demand for sorghum & barley is still very slow at the moment. We heard trade offers for Barley U$ 280 pmt levels & Sorghum at U$340 pmt levels.

On crop progress in Australia – Queensland remains dry with no forecast rain for next week. Low soil moisture levels may now start to impact grain production. Early harvest expected this year with Central Queensland expected to start harvesting mid Sep onwards with South Queensland expected to commence harvesting mid- Oct onwards. Northern NSW remains dry with now concerns of low production on planted crops, South NSW looks in good shape with recent rains and growers have applied fertilizer to crops to boost yields. Victoria is another state where all crops are in good to excellent state with continuing in crop rainfall boosting crop prospects. South Australian crops have been holding up well with some concerns on recent frost damage. In WA, GIWA has expressed concerns on dryness now impacting crop yields to the tune of 1mmt.

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venedor0 commentsAugust 10, 2023Weekly Market Update

Grain, Pulses and Oilseed Market Update (10/08/2023)

China lifted the trade tariff on Australia’s barley last week. In Australia’s local market barley prices increased by A$30 pmt, however, limited demand as traders works towards sales and more details. We heard trade offers for feed barley at high U$ 270 levels in China last week.

In Australia, local wheat prices increased by A$ 20 pmt, resulting in an uplift in futures.

Export of Australian wheat declined by 44% in containerized business – China, Taiwan & Vietnam were the top buyers; In bulk, export declined by 22% – Indonesia, Thailand & Vietnam are volume buyers in June 2023 as per ABS.

India might abolish the 40% import tax on wheat to control local pricing in the country. As per government there was no proposal to import wheat from India via a government-to-government deal. As per MOA&FW wheat production recorded 112.74 MMT in 2023 compared to 107.7 MMT in 2022. All eyes are on India at this moment as imports in excess of 9 MMT will be a big number to be built into the global trade balance sheet.

Export of Australian Chickpeas increased by 135% & Pakistan remains the top volume buyer followed by Bangladesh & UAE in June 2023 as per ABS.

In Pakistan, we heard a trade offer for CHKM to CFR Karachi at U$ 525 pmt to the final buyer.

Export of Lentils dropped by 39% & India, Srilanka, and Nepal are top buyers in June 2023 as per ABS.

In India, demand for Australian red lentils spiked briefly on Canadian crop concerns, however, expected to trade sideways on the back of consistent demand for the upcoming festive season and increased supply from Australia & Canada. We heard Nipper/Hallmark #1 traded at U$ 670 pmt to CFR Kolkata.

In Bangladesh, the market is not supportive of CHK1 & Nipper/Hallmark #1 no export price parity at the moment.

Global oilseed market price fluctuations are driven by a couple of key factors, with EU crop cuts & US weather & ongoing Ukraine rapeseed export concerns & renewed dryness concerns in Canadian prairies. In Australia local market canola old crop prices following European futures with an upswing of A$25 pmt after a similar drop last week, grower selling is limited for old crop canola and new crop canola due to ongoing concerns of dry spring and limited crop rain last few weeks in the east coast cropping regions.

In Nepal, Australian canola seeds still struggling to find export price parity against cheap Ukraine’s rapeseed.

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venedor0 commentsAugust 3, 2023Weekly Market Update

Grains, Pulses & Oilseed Market Update (03/08/2023)

Once again global wheat market is driven by North America weather. As Black Sea tension has subsided, price of wheat has corrected but still Russian wheat remains cheap.

In Australia, local bids for APW1 wheat for old & new crop were down for a week due to the softer global market & lower demand.

According to the China Ag Ministry category 5 Typhoon Doksuri is likely to do significate damage to corn field & grain facilities. China is 2nd biggest producer of corn.

As per USDA crop progress report indicates that dry & hot weather impacted on US corn crop condition, which has continued to be declined.

Barley market remains idle with poor demand & buying interest. Australian growers are optimistic about China’s mkt. Waiting for outcome review of China on tariff by 11th August.

RBA hold interest rate 4.1% for 2nd straight month. Australian dollar on correction mode largely due to other global factors.

In China, minimal trade demand for kaspa peas against cheaper Russian yellow peas. We heard trade offers for Australian kaspa Peas at U$ 380 levels & Russian yellow chickpeas traded at U$ 345 levels this week.

In China, we heard trade offers for Australian sorghum at U$ 335 levels in containers.

In Nepal, we heard that Australian red lentils (Nipper/Hallmark #1) traded at U$ 700 pmt to CFR Birgunj in containers.

In India, no major demand arise for Australian red lentils. We heard Australian red lentils (Nipper/Hallmark #1) traded to CFR Kolkata at U$ 675 in containers & as heard from market experts that desi lentils are been sold in premium price than imported lentils.

In Bangladesh, demand is flat for Australian red lentils (Nipper/Hallmark #1). We heard trade offer at U$ 650-660 levels.

In India, no demand for Faba Beans. We heard FAB#1 traded in U$ 380 levels & less U$10 pmt FAB#2 to Kolkata’s local mkt.

In Pakistan, We heard trade offer at for CHKM to CFR Karachi at U$ 530 levels to final buyer.

In Bangladesh, we heard trader offer in local market for desi chickpeas at U$ 485 levels.

𝗗𝗠 𝘂𝘀 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗽𝗿𝗶𝗰𝗲 𝗶𝗻𝗱𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 & 𝗳𝗶𝗿𝗺 𝗼𝗳𝗳𝗲𝗿𝘀 𝗳𝗼𝗿 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮𝗻 𝗚𝗿𝗮𝗶𝗻𝘀, 𝗣𝘂𝗹𝘀𝗲𝘀 & 𝗢𝗶𝗹𝘀𝗲𝗲𝗱𝘀

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