Australian wheat exports in containers fell by 9.43% in Jun,24 compared to May,24, with major buyers being Malaysia, Thailand, and Taiwan, & bulk exports dipped by 21.96%, main importer are Philippines, South Korea, and China as per ABS. In SEA regions, millers signaling some interest in new crop for Australian wheat – OND shipments.  We are hearing APW quoted at U$272/MT; ASW at U$267/MT to CFR SEA (Sep/Oct) in containers.

China’s economy continues to show slacking growth amidst weak consumer demand with economists predicting trend to continue for some time. Australian red sorghum is offered at U$279/MT in containers at CFR Tianjin (Aug/Sep) – with target buying at U$270/MT.  No demand in Kaspa peas & Mung beans at the moment & also we heard that new crop of Russian YP & Canadian YP priced at U$370/MT & U$375/MT to CFR China in containers, buying targeting at U$350-355/MT levels. Australian feed barley offers at high U$265/MT to CFR China in containers with buyers target price at U$255/MT levels.

The crop conditions for chickpea are generally good to excellent in all major desi-growing regions in Australia’s Queensland and New South Wales. Crop planting was spread out over almost 2 months with some crop plated late July as well so we expect harvest of chickpeas to also be stretched out with CQ harvesting early to mid Oct and SE Qld /NNSW only to get going mid to late Nov. Sub-soil moisture is good which will take crop through to production. On the cropping risk side – we are on La Niña watch as per BOM which lead to an increased tendency of above average wet for northern and central Australia in winter to spring period hence increasing disease risks for chickpeas crops. We also don’t want to see 35-40 degree heat in Oct which will shut plant growth for later sown crops quickly and lead to a drop in yield tally. Next 8 day total rainfall forecast on BOM shows 10-15 mm is expected across all cropping regions in WA and all eastern states which should be beneficial for all crops.

This week, desi chickpeas markets in Indian sub-continent for both old and new crop remained active and prices stable. Some decent container sales were reported into India, signalling a growing interest among buyers as festival season approaches, as we heard that some business reported on CHK1(24/25) at U$840/MT levels to CFR NS (Nov/Dec) in containers & bulk in vessel of CHK1(24/25) trading under U$830/MT levels to CFR Kolkata (Nov/Dec). Also heard the Tanzania desi chickpeas quoted at U$860/MT levels to CNF India. Limited demand for Australian red lentils, with NIP1/HAL1(23/24) quoted at U$685/MT levels to CNF India (Aug/Sep) in containers. 

Pakistan’s trade demand for Australian lentils is slow & desi chickpeas is relatively stable, with CHK1(23/24) & NIP1/HAL1(23/24) quoted at U$885/MT & U$685/MT to CFR Karachi (Aug/Sep). Limited forward new crop trade offers for CHK1(24/25) at U$850/MT; NIP1/HAL1 at U$675/MT to CFR Karachi (Nov/Dec) – containers.  Also heard that Russian desi chickpeas at U$890/MT & Tanzania desi chickpeas at U$860/MT.

Currently, there is no buying interest for Australian canola, desi chickpeas, or red lentils in Nepal. Trade offers are being heard for Canola min.44% at U$670-675/MT & Ukrainian rapeseed at U$630/MT to ICD Birgunj (Aug/Sep) in containers.

Disclaimer: Prices mentioned are for indication purpose only !

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