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.
๐๐ ๐๐ ๐ณ๐ผ๐ฟ ๐๐ต๐ฒ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐ถ๐ป๐ฑ๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป๐ & ๐ณ๐ถ๐ฟ๐บ ๐ผ๐ณ๐ณ๐ฒ๐ฟ๐ ๐ณ๐ผ๐ฟ ๐๐๐๐๐ฟ๐ฎ๐น๐ถ๐ฎ๐ป ๐๐ฟ๐ฎ๐ถ๐ป๐, ๐ฃ๐๐น๐๐ฒ๐ & ๐ข๐ถ๐น๐๐ฒ๐ฒ๐ฑ๐