According to GIWA of Western Australia has raised its forecast for the harvested WA crop to 19.88MMT up from 18.61MMT in its November report.
Millers in Southeast Asia are procuring Australian wheat in small parcels for April/May demands in containers, with business reported at U$280/MT for APW1 (A/M) & hearing offers are quoted at U$ 275/MT for ASW (F/M) to CFR SEA major ports in containers. Australian wheat exports in containerized business in Oct,24 down by 10.5% & bulk exports in Oct,24 up by 26.6% compared to Sep,24 as per ABS.
Chinese buyers in this week have booked Australian red sorghum new crop at U$270/MT to CFR Tianjin (F/M) in containers. Buyers are willing to wait for a while before moving to cover up upcoming months demand. Exports of sorghum in Oct,24 declined by 41% compared to Sep,24 as per ABS.
Australian feed barley offers are quoted at U$260/MT to CFR Tianjin (F/M), compared to buyer bidding at U$247/MT in containers & bulk offers at U$258/MT levels for Q1. Exports of feed barley in Oct,24 down by 61.6% & Malt barley exports also declined by 63.36% compared to Sep,24 as per ABS.
No offers were for Australian GMB this week, as buyers are placing bids at U$1000/930/MT – P/M grade seller options to CFR Qingdao (M/M) in containers. At origination, growers are expecting a good GMB crop size this time.
There was no significant trading activity Kaspa peas this week, with the container offer to CFR Tianjin (J/F) quoted at U$465/MT, while the buyer’s bid at U$430/MT. This year due to low crop numbers Kaspa pea price is high at origination.
Faba bean at the origin have shown consistent stability over the past four weeks. This week, there is a demand for faba beans (fiesta type) from Egyptians, with offers quoted at U$560/MT to CFR Damietta (J/F) in containers.
India’s demand for Australian desi chickpeas remains flat due to a lack of buyer engagement at CFR levels, with CHK1 offers at U$715-20/MT (D) & U$685-90/MT (J) to CNF India via containers. However, sellers & buyers are more engaged in desi chickpeas INR transactions within the domestic market. There was a minimal trade movement in Australian red lentils, as business reported at U$705/MT levels to CFR Kolkata (J/F) via containers.
Pakistani buyers actively engaging this week to cover up the demand for Australian Desi chickpeas for Ramadan. This week, container business reported at U$690/MT (D/J) & U$720/MT for full Dec. Minimal trade movement in Australian red lentils, business reported at U$715/MT to CFR Karachi (D/J) in containers.
Bangladeshi market demand is steady for Australian desi chickpeas &, with CHK1 offers at quoted at U$710/MT for full Jan & Nothing much trade movement in Australian red lentils, with offers quoted at U$740/MT to CFR Chittagong full Jan in containers.
Exports of canola in Oct,24 down by 52.5% compared to Sep,24; main importers are France, Belgium, & Pakistan as per ABS.
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